Correlation Analysis
Cummins Inc. vs Micron Technology, Inc.
CMI vs MU
+0.899
Very strong positive
When one moves up, the other tends to follow.
Cummins Inc.
↗CMI
Cummins is a leading manufacturer of diesel and other engines used in heavy- and medium-duty commercial trucks, off-highway equipment, and locomotives, in addition to prime power and standby generators. The company also sells powertrain components, which include filtration products, transmissions, turbochargers, aftertreatment systems, and fuel systems. Sales are approximately 60% US and Canada and 40% rest of the world. Much of Cummins' foreign sales (China, India, and so forth) are through joint ventures. The company operates 650 distributors and over 19,000 dealer locations across 190 countries. Cummins' business model is unique as it competes with many of its heavy-duty truck manufacturer customers, which also make their own engines.
Market cap 76.3B · 67,400 employees
Micron Technology, Inc.
↗MU
Micron is one of the largest semiconductor companies in the world, specializing in memory and storage chips. Its primary revenue stream comes from dynamic random access memory, or DRAM, and it also has minority exposure to not-and or NAND, flash chips. Micron serves a global customer base, selling chips into data centers, mobile phones, consumer electronics, and industrial and automotive applications. The firm is vertically integrated.
Market cap 426B · 53,000 employees
Time Series
Relative Performance
Who Moves First
CMI leads MU by 6 days
CMI tends to move before MU.
After testing 13 timing shifts, the strongest relationship was +0.900 (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
+0.715
12 periods · Return correlation when both series rose
Both Falling
+0.460
9 periods · Return correlation when both series fell
Diverging
-0.735
14 periods · Return correlation when series moved apart
R-Squared
80.9%
Share of variance in one series explained by the other.
Trend Agreement
63.0%
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: [0.888, 0.909]
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
Cummins Inc.
CMI
Market cap 76.3B · 67,400 employees
Stock · 1,254 raw → 1,254 prepared
Series B
Micron Technology, Inc.
MU
Market cap 426B · 53,000 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
38
Estimated crossover points between normalized spreads.
Slope
0.7410
Linear regression slope.
Intercept
-108.1141
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-cmi-vs-stock-mu-daily