Correlation Analysis
Coherent Corp. vs Johnson & Johnson
COHR vs JNJ
+0.446
Moderate positive
When one moves up, the other tends to follow.
Coherent Corp.
↗COHR
Coherent Corp is a vertically integrated manufacturing company that develops, manufactures, and markets lasers, transceivers, and other optical and optoelectronic devices, modules, and systems, as well as engineered materials, for use in the communications, industrial, instrumentation, and electronics markets. Its reporting segments are Datacenter Communications and Industrial. Its geographic areas are North America, Europe, China, Japan, and the rest of the world.
Market cap 47.5B · 30,000 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 COHR by 6 days
JNJ tends to move before COHR.
After testing 13 timing shifts, the strongest relationship was +0.448 (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
+0.662
12 periods · Return correlation when both series rose
Both Falling
+0.322
8 periods · Return correlation when both series fell
Diverging
-0.675
15 periods · Return correlation when series moved apart
R-Squared
19.9%
Share of variance in one series explained by the other.
Trend Agreement
49.2%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,207
Deep shared window — 1,207 usable pairs.
Significance
p < 0.001
95% CI: [0.399, 0.490]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,207 paired data points survived the daily window.
Raw input
1,207
1,254
Normalized
1,207
1,254
Prepared
1,207
1,254
Aligned
1,207
1,207
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
47
A: 0 / B: 47
Series A
Coherent Corp.
COHR
Market cap 47.5B · 30,000 employees
Stock · 1,207 raw → 1,207 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
12
Estimated crossover points between normalized spreads.
Slope
0.0963
Linear regression slope.
Intercept
156.2985
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 4 hours ago · ID: stock-cohr-vs-stock-jnj-daily