Correlation Analysis
BERKSHIRE HATHAWAY Class B vs Expand Energy Corporation Common Stock
BRK.B vs EXE
+0.520
Moderate positive
When one moves up, the other tends to follow.
BERKSHIRE HATHAWAY Class B
↗BRK.B
Berkshire Hathaway is a holding company with a wide array of subsidiaries engaged in diverse activities. The firm's core business segment is insurance, run primarily through Geico, Berkshire Hathaway Reinsurance Group, and Berkshire Hathaway Primary Group. Berkshire has used the excess cash thrown off from its operations to acquire Burlington Northern Santa Fe (railroad), Berkshire Hathaway Energy (utilities and energy distributors), and the companies that make up its manufacturing, service, and retailing operations (which include Precision Castparts, Lubrizol, Clayton Homes, Marmon, and IMC/ISCAR). The conglomerate is unique in that it is run on a completely decentralized basis. Berkshire is expected to generate close to $375 billion in revenue in 2025.
Market cap 1T
Expand Energy Corporation Common Stock
↗EXE
Expand Energy is a North American natural gas producer in the Haynesville and Appalachian basins, formed by the combination of Chesapeake and Southwestern. Its largest operation by volume is the Haynesville basin in Louisiana, which is heavily exposed to nearby LNG production. Appalachia benefits from its proximity to population centers in the Northeast and mid-Atlantic regions.
Market cap 24.9B · 1,600 employees
Time Series
Relative Performance
Who Moves First
in sync
BRK.B and EXE tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was +0.520 (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
+0.430
13 periods · Return correlation when both series rose
Both Falling
-0.102
12 periods · Return correlation when both series fell
Diverging
-0.567
10 periods · Return correlation when series moved apart
R-Squared
27.0%
Share of variance in one series explained by the other.
Trend Agreement
57.8%
How often both series moved in the same direction period-to-period.
Overlap Quality
378
Robust shared window — 378 usable pairs.
Significance
p < 0.001
95% CI: [0.442, 0.590]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
378 paired data points survived the daily window.
Raw input
1,254
378
Normalized
1,254
378
Prepared
1,254
378
Aligned
378
378
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
876
A: 876 / B: 0
Series A
BERKSHIRE HATHAWAY Class B
BRK.B
Market cap 1T
Stock · 1,254 raw → 1,254 prepared
Series B
Expand Energy Corporation Common Stock
EXE
Market cap 24.9B · 1,600 employees
Stock · 378 raw → 378 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
24
Estimated crossover points between normalized spreads.
Slope
0.2136
Linear regression slope.
Intercept
0.0794
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
BRK.B
BERKSHIRE HATHAWAY Class B
Highest
+0.968
Republic Services Inc.
RSG · 1,254 data points
Lowest
-0.918
United Parcel Service, Inc. Class B
UPS · 1,254 data points
EXE
Expand Energy Corporation Common Stock
Highest
+0.532
VISA Inc.
V · 378 data points
Lowest
+0.058
Exxon Mobil Corporation
XOM · 378 data points
Saved 7 hours ago · ID: stock-brk-b-vs-stock-exe-daily