Correlation Analysis
Enterprise Products Partners L.P. vs Johnson & Johnson
EPD vs JNJ
+0.369
Light positive
When one moves up, the other tends to follow.
Enterprise Products Partners L.P.
↗EPD
Enterprise Products Partners is a master limited partnership that transports and processes natural gas, natural gas liquids, crude oil, refined products, and petrochemicals. It is one of the largest midstream companies, with operations servicing most producing regions in the continental US. Enterprise is particularly dominant in the NGL market and is one of the few MLPs that provide midstream services across the full hydrocarbon value chain.
Market cap 81.8B · 7,300 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
in sync
EPD and JNJ tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was +0.369 (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
+0.708
9 periods · Return correlation when both series rose
Both Falling
-0.527
7 periods · Return correlation when both series fell
Diverging
-0.701
19 periods · Return correlation when series moved apart
R-Squared
13.6%
Share of variance in one series explained by the other.
Trend Agreement
54.6%
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: [0.320, 0.416]
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
Enterprise Products Partners L.P.
EPD
Market cap 81.8B · 7,300 employees
Stock · 1,254 raw → 1,254 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
45
Estimated crossover points between normalized spreads.
Slope
1.9580
Linear regression slope.
Intercept
114.1897
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
EPD
Enterprise Products Partners L.P.
Highest
+0.906
Walmart Inc. Common Stock
WMT · 1,254 data points
Lowest
+0.675
Micron Technology, Inc.
MU · 1,254 data points
Saved 4 hours ago · ID: stock-epd-vs-stock-jnj-daily