Correlation Analysis
EQT CORP vs Johnson & Johnson
EQT vs JNJ
+0.367
Light positive
When one moves up, the other tends to follow.
EQT CORP
↗EQT
EQT is an independent natural gas production company. It focuses its operations in the cores of the Marcellus and Utica shales, located in the Appalachian Basin in the Eastern United States. Its main customers include marketers, utilities, and industrial operators in the Appalachian Basin. The company has three reportable segments in production, gathering, and its transmission segment, which is now an operated joint venture with Blackstone. All the firm's operating revenue is generated in the US, with most revenue flowing from the Marcellus Shale field and through the sale of natural gas.
Market cap 37.7B · 1,523 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
EQT and JNJ tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was +0.367 (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
+0.114
9 periods · Return correlation when both series rose
Both Falling
-0.087
5 periods · Return correlation when both series fell
Diverging
-0.725
21 periods · Return correlation when series moved apart
R-Squared
13.5%
Share of variance in one series explained by the other.
Trend Agreement
52.7%
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: [0.318, 0.414]
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
EQT CORP
EQT
Market cap 37.7B · 1,523 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
40
Estimated crossover points between normalized spreads.
Slope
0.6021
Linear regression slope.
Intercept
144.9008
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 5 hours ago · ID: stock-eqt-vs-stock-jnj-daily