Correlation Analysis
Dow Inc. vs JPMorgan Chase & Co.
DOW vs JPM
-0.824
Strong inverse
When one moves up, the other tends to move down.
Dow Inc.
↗DOW
Dow Chemical is a diversified global chemicals producer, formed in 2019 as a result of the DowDuPont merger and subsequent separations. The firm is a leading producer of several chemicals, including polyethylene, ethylene oxide, and silicone rubber. Its products have numerous applications in both consumer and industrial end markets.
Market cap 29.2B · 34,600 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
DOW leads JPM by 6 days
DOW tends to move before JPM.
After testing 13 timing shifts, the strongest relationship was -0.831 (they moved in opposite directions).
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
-0.618
8 periods · Return correlation when both series rose
Both Falling
+0.267
6 periods · Return correlation when both series fell
Diverging
-0.489
21 periods · Return correlation when series moved apart
R-Squared
67.9%
Share of variance in one series explained by the other.
Trend Agreement
65.9%
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: [-0.841, -0.805]
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
Dow Inc.
DOW
Market cap 29.2B · 34,600 employees
Stock · 1,254 raw → 1,254 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
11
Estimated crossover points between normalized spreads.
Slope
-4.0388
Linear regression slope.
Intercept
388.6130
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-dow-vs-stock-jpm-daily