Correlation Analysis
Eversource Energy vs Micron Technology, Inc.
ES vs MU
-0.192
Weak inverse
When one moves up, the other tends to move down.
Eversource Energy
↗ES
Eversource Energy is a diversified holding company with subsidiaries that provide rate-regulated electric, gas, and water distribution service to more than 4 million customers in the Northeast US. Eversource expanded its service territories with acquisitions of NStar (2012), Aquarion (2017), and Columbia Gas (2020). In 2024 Eversource exited its 50% partnership with European utility Orsted to develop 2 gigawatts of offshore wind projects in the Northeast US. The company exited most of its unregulated businesses in 2006.
Market cap 26.1B · 10,731 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
ES leads MU by 6 days
ES tends to move before MU.
After testing 13 timing shifts, the strongest relationship was -0.200 (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
-0.048
8 periods · Return correlation when both series rose
Both Falling
-0.374
10 periods · Return correlation when both series fell
Diverging
-0.695
17 periods · Return correlation when series moved apart
R-Squared
3.7%
Share of variance in one series explained by the other.
Trend Agreement
49.1%
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: [-0.244, -0.138]
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
Eversource Energy
ES
Market cap 26.1B · 10,731 employees
Stock · 1,254 raw → 1,254 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
41
Estimated crossover points between normalized spreads.
Slope
-1.2897
Linear regression slope.
Intercept
200.4508
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 5 hours ago · ID: stock-es-vs-stock-mu-daily