Correlation Analysis
Coherent Corp. vs JPMorgan Chase & Co.
COHR vs JPM
+0.012
Near-zero 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
JPMorgan Chase & Co.
↗JPM
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with more than $4.4 trillion in assets. It is organized into four major segments: consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates and is subject to regulation in multiple countries.
Market cap 792.5B
Time Series
Relative Performance
Who Moves First
JPM leads COHR by 6 days
JPM tends to move before COHR.
After testing 13 timing shifts, the strongest relationship was +0.032 (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
+0.227
12 periods · Return correlation when both series rose
Both Falling
+0.975
5 periods · Return correlation when both series fell
Diverging
-0.169
18 periods · Return correlation when series moved apart
R-Squared
0.0%
Share of variance in one series explained by the other.
Trend Agreement
61.5%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,207
Deep shared window — 1,207 usable pairs.
Significance
n.s.
95% CI: [-0.044, 0.069]
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
JPMorgan Chase & Co.
JPM
Market cap 792.5B
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
2
Estimated crossover points between normalized spreads.
Slope
0.0084
Linear regression slope.
Intercept
192.6359
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-cohr-vs-stock-jpm-daily