Correlation Analysis
Broadcom Inc. Common Stock vs Coherent Corp.
AVGO vs COHR
-0.065
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
Coherent Corp.
↗COHR
Coherent Corp is a vertically integrated manufacturing company that develops, manufactures, and markets lasers, transceivers, and other optical and optoelectronic devices, modules, and systems, as well as engineered materials, for use in the communications, industrial, instrumentation, and electronics markets. Its reporting segments are Datacenter Communications and Industrial. Its geographic areas are North America, Europe, China, Japan, and the rest of the world.
Market cap 47.5B · 30,000 employees
Time Series
Relative Performance
Who Moves First
COHR leads AVGO by 6 days
COHR tends to move before AVGO.
After testing 13 timing shifts, the strongest relationship was -0.089 (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
+0.354
13 periods · Return correlation when both series rose
Both Falling
-0.063
9 periods · Return correlation when both series fell
Diverging
-0.347
13 periods · Return correlation when series moved apart
R-Squared
0.4%
Share of variance in one series explained by the other.
Trend Agreement
69.9%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,207
Deep shared window — 1,207 usable pairs.
Significance
p < 0.05
95% CI: [-0.121, -0.008]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,207 paired data points survived the daily window.
Raw input
1,254
1,207
Normalized
1,254
1,207
Prepared
1,254
1,207
Aligned
1,207
1,207
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
47
A: 47 / B: 0
Series A
Broadcom Inc. Common Stock
AVGO
Market cap 1.5T
Stock · 1,254 raw → 1,254 prepared
Series B
Coherent Corp.
COHR
Market cap 47.5B · 30,000 employees
Stock · 1,207 raw → 1,207 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
7
Estimated crossover points between normalized spreads.
Slope
-0.0590
Linear regression slope.
Intercept
134.0908
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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