Correlation Analysis
Essex Property Trust, Inc vs JPMorgan Chase & Co.
ESS vs JPM
+0.069
Weak positive
When one moves up, the other tends to follow.
Essex Property Trust, Inc
↗ESS
Essex Property Trust owns a portfolio of 259 apartment communities with over 63,000 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.
Market cap 16B · 1,689 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
JPM leads ESS by 6 days
JPM tends to move before ESS.
After testing 13 timing shifts, the strongest relationship was +0.077 (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
-0.121
15 periods · Return correlation when both series rose
Both Falling
-0.164
9 periods · Return correlation when both series fell
Diverging
-0.816
11 periods · Return correlation when series moved apart
R-Squared
0.5%
Share of variance in one series explained by the other.
Trend Agreement
61.2%
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 < 0.05
95% CI: [0.014, 0.124]
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
Essex Property Trust, Inc
ESS
Market cap 16B · 1,689 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
53
Estimated crossover points between normalized spreads.
Slope
0.1096
Linear regression slope.
Intercept
161.0954
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-ess-vs-stock-jpm-daily