Correlation Analysis
Broadcom Inc. Common Stock vs Carpenter Technology Corp
AVGO vs CRS
+0.963
Very strong positive
When one moves up, the other tends to follow.
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
Carpenter Technology Corp
↗CRS
Carpenter Technology Corp supplies specialty metals to a variety of end markets, including aerospace and defense, industrial machinery and consumer durables, medical, and energy, among others. The company's reportable segments include; Specialty Alloys Operations and Performance Engineered Products. It generates maximum revenue from the Specialty Alloys Operations segment. The SAO segment is comprised of the company's alloy and stainless steel manufacturing operations. This includes operations performed at mills predominantly in Reading and Latrobe, Pennsylvania, and surrounding areas as well as South Carolina and Alabama. Geographically, the company derives its maximum revenue from the United States and the rest from Europe, Asia Pacific, Mexico, Canada, and other regions.
Market cap 19.7B · 4,500 employees
Time Series
Rebased to 100
Who Moves First
AVGO leads CRS by 6 days
AVGO tends to move before CRS.
Best correlation after shifting: +0.964 (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
+0.592
18 periods · Return correlation when both series rose
Both Falling
N/A
4 periods · Return correlation when both series fell
Diverging
-0.737
13 periods · Return correlation when series moved apart
R-Squared
92.7%
Share of variance in one series explained by the other.
Trend Agreement
61.9%
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: [0.958, 0.967]
Scatter
XY Regression
Pipeline
Data quality details
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
Broadcom Inc. Common Stock
AVGO
Market cap 1.5T
Stock · 1,254 raw → 1,254 prepared
Series B
Carpenter Technology Corp
CRS
Market cap 19.7B · 4,500 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
76
Estimated crossover points between normalized spreads.
Slope
0.9759
Linear regression slope.
Intercept
-18.5327
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 3 hours ago · ID: stock-avgo-vs-stock-crs-daily-20260408-lu2s5r