Correlation Analysis
Essex Property Trust, Inc vs Micron Technology, Inc.
ESS vs MU
-0.056
Weak inverse
When one moves up, the other tends to move down.
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
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
ESS leads MU by 3 days
ESS tends to move before MU.
After testing 13 timing shifts, the strongest relationship was -0.057 (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
-0.430
10 periods · Return correlation when both series rose
Both Falling
-0.355
11 periods · Return correlation when both series fell
Diverging
-0.524
14 periods · Return correlation when series moved apart
R-Squared
0.3%
Share of variance in one series explained by the other.
Trend Agreement
57.4%
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: [-0.111, -0.001]
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
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
43
Estimated crossover points between normalized spreads.
Slope
-0.1098
Linear regression slope.
Intercept
136.8296
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-ess-vs-stock-mu-daily