Correlation Analysis
Apple Inc. vs Marsh
AAPL vs MRSH
+0.421
Moderate positive
When one moves up, the other tends to follow.
Apple Inc.
↗AAPL
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.
Market cap 3.8T
Marsh
↗MRSH
Marsh McLennan is a professional services firm that provides advice and solutions in the areas of risk, strategy, and human capital. The company operates through two main segments: risk and insurance services and consulting. In risk and insurance services, the firm offers services via Marsh (an insurance broker) and Guy Carpenter (a risk and reinsurance specialist). The consulting division comprises Mercer (a provider of human resource services) and Oliver Wyman (a management and economic consultancy). About half of its revenue is generated outside the US.
Market cap 84.5B · 55,700 employees
Time Series
Rebased to 100
Who Moves First
MRSH leads AAPL by 3 days
MRSH tends to move before AAPL.
Best correlation after shifting: +0.537 (13 shifts scanned)
Do They Crash Together?
Correlation by Market Regime
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
-0.512
9 periods · Return correlation when both series rose
Both Falling
+0.033
10 periods · Return correlation when both series fell
Diverging
-0.486
16 periods · Return correlation when series moved apart
R-Squared
17.7%
Share of variance in one series explained by the other.
Trend Agreement
50.0%
How often both series moved in the same direction period-to-period.
Overlap Quality
57
Thin shared window — 57 usable pairs.
Significance
p < 0.01
95% CI: [0.180, 0.614]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
57 paired observations survived the daily window.
Raw input
1,254
57
Normalized
1,254
57
Prepared
1,254
57
Aligned
57
57
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,197
A: 1197 / B: 0
Series A
Apple Inc.
AAPL
Market cap 3.8T
Stock · 1,254 raw → 1,254 prepared
Series B
Marsh
MRSH
Market cap 84.5B · 55,700 employees
Stock · 57 raw → 57 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
10
Estimated crossover points between normalized spreads.
Slope
0.2771
Linear regression slope.
Intercept
106.6732
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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