Correlation Analysis
Cardinal Health, Inc. vs Johnson & Johnson
CAH vs JNJ
+0.520
Moderate positive
When one moves up, the other tends to follow.
Cardinal Health, Inc.
↗CAH
Cardinal Health is one of three leading pharmaceutical wholesalers in the US, engaged in sourcing and distributing of branded, generic, and specialty pharmaceutical products to pharmacies (retail chains, independent, and mail order), hospital networks, and healthcare providers. Cardinal, Cencora, and McKesson hold well over 90% of the US pharmaceutical wholesale industry. Cardinal Health also supplies medical-surgical products and equipment to healthcare facilities in North America, Europe, and Asia.
Market cap 50B · 57,700 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
CAH leads JNJ by 6 days
CAH tends to move before JNJ.
After testing 13 timing shifts, the strongest relationship was +0.522 (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
+0.270
15 periods · Return correlation when both series rose
Both Falling
-0.236
8 periods · Return correlation when both series fell
Diverging
-0.347
12 periods · Return correlation when series moved apart
R-Squared
27.1%
Share of variance in one series explained by the other.
Trend Agreement
63.2%
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: [0.479, 0.560]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,254 paired data points 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
Cardinal Health, Inc.
CAH
Market cap 50B · 57,700 employees
Stock · 1,254 raw → 1,254 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
5
Estimated crossover points between normalized spreads.
Slope
0.2204
Linear regression slope.
Intercept
146.0927
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-cah-vs-stock-jnj-daily