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Correlation Analysis

Apple Inc. vs Waste Management, Inc.

AAPL vs WM

+0.836

Strong positive

When one moves up, the other tends to follow.

AAPL logo

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

WM logo

Waste Management, Inc.

WM

WM, previously known as Waste Management, ranks as the largest integrated provider of traditional solid waste services in the United States, operating 257 active landfill sites and about 342 transfer stations that help with transporting waste efficiently and economically. The company serves residential, commercial, industrial, and medical end markets for waste collection, transfer, and disposal. The company also has an energy business emanating from the beneficial use of landfill gas and is a leading recycler in North America.

Market cap 94.2B · 60,500 employees

Apr 9, 2021 — Apr 7, 2026Daily1,254 observationsStockStockTechnologyIndustrials

Time Series

Rebased to 100

Green: AAPLGray: WM36 of 1,254 points (sampled)

Who Moves First

in sync

AAPL and WM tend to move at the same time.

Best correlation after shifting: +0.836 (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

-0.401

12 periods · Return correlation when both series rose

Both Falling

-0.885

6 periods · Return correlation when both series fell

Diverging

-0.759

17 periods · Return correlation when series moved apart

R-Squared

69.9%

Share of variance in one series explained by the other.

Trend Agreement

57.9%

How often both series moved in the same direction period-to-period.

Overlap Quality

1,254

Deep shared window — 1,254 usable pairs.

Significance

p < 0.001

95% CI: [0.819, 0.852]

Scatter

XY Regression

112.3120140160180200220240260280285.6126.5140160180200220240245.3Apple Inc.Waste Management, Inc.Data pointsFit (r = 0.836)

Pipeline

Data quality details

Pipeline Summary

1,254 paired observations survived the daily window.

Raw input

1,254

1,254

Normalized

1,254

1,254

Prepared

1,254

1,254

Aligned

1,254

1,254

Invalid removed

0

A: 0 / B: 0

Duplicates removed

0

A: 0 / B: 0

Alignment drops

0

A: 0 / B: 0

Series A

AAPL logo

Apple Inc.

AAPL

Market cap 3.8T

Stock · 1,254 raw → 1,254 prepared

Series B

WM logo

Waste Management, Inc.

WM

Market cap 94.2B · 60,500 employees

Stock · 1,254 raw → 1,254 prepared

Sign agreement

100.0%

How often both values share the same sign.

Zero crossings

45

Estimated crossover points between normalized spreads.

Slope

0.6467

Linear regression slope.

Intercept

62.4482

Linear regression intercept.

Related Extremes

Highest and Lowest Correlated

Saved 3 hours ago · ID: stock-aapl-vs-stock-wm-daily-20260408-6xb2ky