Correlation Analysis
Broadcom Inc. Common Stock vs Marsh
AVGO vs MRSH
+0.070
Weak 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
Marsh
↗MRSH
Marsh McLennan is a professional services firm that provides advice and solutions in the areas of risk, strategy, and human capital. The company operates through two main segments: risk and insurance services and consulting. In risk and insurance services, the firm offers services via Marsh (an insurance broker) and Guy Carpenter (a risk and reinsurance specialist). The consulting division comprises Mercer (a provider of human resource services) and Oliver Wyman (a management and economic consultancy). About half of its revenue is generated outside the US.
Market cap 84.5B · 55,700 employees
Time Series
Rebased to 100
Who Moves First
MRSH leads AVGO by 6 days
MRSH tends to move before AVGO.
Best correlation after shifting: +0.560 (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
-0.410
5 periods · Return correlation when both series rose
Both Falling
+0.536
10 periods · Return correlation when both series fell
Diverging
-0.610
20 periods · Return correlation when series moved apart
R-Squared
0.5%
Share of variance in one series explained by the other.
Trend Agreement
46.4%
How often both series moved in the same direction period-to-period.
Overlap Quality
57
Thin shared window — 57 usable pairs.
Significance
n.s.
95% CI: [-0.194, 0.324]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
57 paired observations survived the daily window.
Raw input
1,254
57
Normalized
1,254
57
Prepared
1,254
57
Aligned
57
57
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,197
A: 1197 / B: 0
Series A
Broadcom Inc. Common Stock
AVGO
Market cap 1.5T
Stock · 1,254 raw → 1,254 prepared
Series B
Marsh
MRSH
Market cap 84.5B · 55,700 employees
Stock · 57 raw → 57 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
16
Estimated crossover points between normalized spreads.
Slope
0.0339
Linear regression slope.
Intercept
167.5557
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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