Correlation Analysis
Elevance Health, Inc. vs Micron Technology, Inc.
ELV vs MU
-0.599
Moderate inverse
When one moves up, the other tends to move down.
Elevance Health, Inc.
↗ELV
Elevance Health remains one of the leading health insurers in the US, providing medical benefits to 45 million medical members at the end of 2025. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states in government-sponsored programs, such as Medicaid and Medicare Advantage plans, too. It is also an emerging player in pharmacy benefit management and other healthcare services.
Market cap 66.5B · 97,100 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
in sync
ELV and MU tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was -0.599 (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
+0.469
12 periods · Return correlation when both series rose
Both Falling
-0.666
6 periods · Return correlation when both series fell
Diverging
-0.692
17 periods · Return correlation when series moved apart
R-Squared
35.8%
Share of variance in one series explained by the other.
Trend Agreement
53.1%
How often both series moved in the same direction period-to-period.
Overlap Quality
947
Deep shared window — 947 usable pairs.
Significance
p < 0.001
95% CI: [-0.638, -0.556]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
947 paired data points survived the daily window.
Raw input
947
1,254
Normalized
947
1,254
Prepared
947
1,254
Aligned
947
947
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
307
A: 0 / B: 307
Series A
Elevance Health, Inc.
ELV
Market cap 66.5B · 97,100 employees
Stock · 947 raw → 947 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
7
Estimated crossover points between normalized spreads.
Slope
-0.7183
Linear regression slope.
Intercept
432.2658
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-elv-vs-stock-mu-daily