Correlation Analysis
Albemarle Corporation vs Johnson & Johnson
ALB vs JNJ
+0.166
Weak positive
When one moves up, the other tends to follow.
Albemarle Corporation
↗ALB
Albemarle is one of the world's largest lithium producers. In the lithium industry, the majority of demand comes from batteries, where lithium is used as the energy storage material, particularly in electric vehicles. Albemarle is a fully integrated lithium producer. Its upstream resources include salt brine deposits in Chile and the US and two hard rock mines in Australia, both of which are joint ventures. The company operates lithium refining plants in Chile, the US, Australia, and China. Albemarle is a global leader in the production of bromine, used in flame retardants.
Market cap 20.4B · 7,800 employees
Johnson & Johnson
↗JNJ
Johnson & Johnson is the world's largest and most diverse healthcare firm. It has two divisions: innovative medicine and medtech. These now represent all of the company's sales following the divestment of the consumer business, Kenvue, in 2023. After restructurings in 2023-24, the drug division focuses on three main therapeutic areas: immunology, oncology, and neurology. Geographically, just over half of total revenue is generated in the United States.
Market cap 580.4B
Time Series
Relative Performance
Who Moves First
JNJ leads ALB by 6 days
JNJ tends to move before ALB.
After testing 13 timing shifts, the strongest relationship was +0.191 (they moved in the same direction).
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
-0.101
8 periods · Return correlation when both series rose
Both Falling
+0.411
6 periods · Return correlation when both series fell
Diverging
-0.563
21 periods · Return correlation when series moved apart
R-Squared
2.8%
Share of variance in one series explained by the other.
Trend Agreement
52.8%
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: [0.112, 0.220]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,254 paired data points 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
Albemarle Corporation
ALB
Market cap 20.4B · 7,800 employees
Stock · 1,254 raw → 1,254 prepared
Series B
Johnson & Johnson
JNJ
Market cap 580.4B
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
8
Estimated crossover points between normalized spreads.
Slope
0.0479
Linear regression slope.
Intercept
160.5968
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 4 hours ago · ID: stock-alb-vs-stock-jnj-daily