Correlation Analysis
Ball Corporation vs Johnson & Johnson
BALL vs JNJ
+0.028
Near-zero positive
When one moves up, the other tends to follow.
Ball Corporation
↗BALL
Ball is the world's largest metal can manufacturer with market share over 30% in its three main regions (North America, Europe, and South America). The company is focused on increasing capacity amid a wave of new developed-market demand, while also investing in faster-growing emerging-market economies. Ball spun-off its glass jar business in 1993 and is now owned by Newell. The company reports three segments-beverage packaging, North and Central America (48% of 2025 revenue), beverage packaging, EMEA (30%), beverage packaging, South America (16%)-and it generated $13 billion in revenue in 2025.
Market cap 15.9B · 16,000 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 BALL by 3 days
JNJ tends to move before BALL.
After testing 13 timing shifts, the strongest relationship was +0.031 (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
+0.342
11 periods · Return correlation when both series rose
Both Falling
+0.232
11 periods · Return correlation when both series fell
Diverging
-0.649
13 periods · Return correlation when series moved apart
R-Squared
0.1%
Share of variance in one series explained by the other.
Trend Agreement
57.1%
How often both series moved in the same direction period-to-period.
Overlap Quality
980
Deep shared window — 980 usable pairs.
Significance
n.s.
95% CI: [-0.034, 0.091]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
980 paired data points survived the daily window.
Raw input
980
1,254
Normalized
980
1,254
Prepared
980
1,254
Aligned
980
980
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
274
A: 0 / B: 274
Series A
Ball Corporation
BALL
Market cap 15.9B · 16,000 employees
Stock · 980 raw → 980 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
47
Estimated crossover points between normalized spreads.
Slope
0.0932
Linear regression slope.
Intercept
163.0822
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-ball-vs-stock-jnj-daily