Correlation Analysis
Broadcom Inc. Common Stock vs Alcoa Corporation
AVGO vs AA
-0.135
Weak inverse
When one moves up, the other tends to move down.
Broadcom Inc. Common Stock
↗AVGO
Broadcom is one of the largest semiconductor companies in the world and has also expanded into infrastructure software. Its semiconductors primarily serve computing and networking, with custom AI accelerators now accounting for the bulk of the business. It is primarily a fabless designer, but holds some manufacturing in-house, such as for its best-of-breed film bulk acoustic resonator filters that sell into the Apple iPhone. In software, it sells virtualization, infrastructure, and security software to large enterprises, financial institutions, and governments. Broadcom is the product of consolidation. Its businesses are an amalgamation of former companies like legacy Broadcom and Avago Technologies in chips, as well as VMware, Brocade, CA Technologies, and Symantec in software.
Market cap 1.5T
Alcoa Corporation
↗AA
Alcoa is a vertically integrated aluminum company whose operations include bauxite mining, alumina refining, and manufacturing primary aluminum. It is one of the world's largest bauxite miners and alumina refiners by production volume, but sits outside the top-10 aluminum producers, a list dominated by Chinese companies. Profits are closely tied to prevailing commodity prices along the aluminum supply chain.Alcoa was the first mass producer of aluminum, launching the world-changing Hall-Heroult smelting process in the 1880s, making aluminum affordable. It listed as a public company in 1925. In 2016, Alcoa spun off its automotive and aerospace metal parts segment to focus on mining, smelting, and refining. It bought the 40% unowned balance of AWAC in mid-2024.
Market cap 18.7B · 14,900 employees
Time Series
Relative Performance
Who Moves First
AA leads AVGO by 6 days
AA tends to move before AVGO.
After testing 13 timing shifts, the strongest relationship was -0.171 (they moved in opposite directions).
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
-0.453
14 periods · Return correlation when both series rose
Both Falling
-0.031
7 periods · Return correlation when both series fell
Diverging
-0.497
14 periods · Return correlation when series moved apart
R-Squared
1.8%
Share of variance in one series explained by the other.
Trend Agreement
60.1%
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: [-0.189, -0.080]
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
Broadcom Inc. Common Stock
AVGO
Market cap 1.5T
Stock · 1,254 raw → 1,254 prepared
Series B
Alcoa Corporation
AA
Market cap 18.7B · 14,900 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
17
Estimated crossover points between normalized spreads.
Slope
-0.0180
Linear regression slope.
Intercept
44.4726
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-avgo-vs-stock-aa-daily-20260408-3g347r