Correlation Analysis
Apple Inc. vs Permian Resources Corporation
AAPL vs PR
+0.577
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
Permian Resources Corporation
↗PR
Permian Resources Corp is an independent oil and natural gas company focused on generating outsized returns to stakeholders through the responsible acquisition, optimization, and development of oil and liquids-rich natural gas assets. The Company's assets and operations are concentrated in the core of the Permian Basin, and its properties consist of large, contiguous acreage blocks located in West Texas and New Mexico.
Market cap 17.2B · 515 employees
Who Moves First
in sync
AAPL and PR tend to move at the same time.
Best correlation after shifting: +0.577 (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
+0.366
10 periods · Return correlation when both series rose
Both Falling
+0.463
5 periods · Return correlation when both series fell
Diverging
-0.613
20 periods · Return correlation when series moved apart
R-Squared
33.3%
Share of variance in one series explained by the other.
Trend Agreement
54.6%
How often both series moved in the same direction period-to-period.
Overlap Quality
900
Deep shared window — 900 usable pairs.
Significance
p < 0.001
95% CI: [0.532, 0.619]
Time Series
Rebased to 100
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
900 paired observations survived the daily window.
Raw input
1,254
900
Normalized
1,254
900
Prepared
1,254
900
Aligned
900
900
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
354
A: 354 / B: 0
Series A
Apple Inc.
AAPL
Market cap 3.8T
Stock · 1,254 raw → 1,254 prepared
Series B
Permian Resources Corporation
PR
Market cap 17.2B · 515 employees
Stock · 900 raw → 900 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
17
Estimated crossover points between normalized spreads.
Slope
0.0388
Linear regression slope.
Intercept
5.4753
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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