Correlation Analysis
Energy Transfer LP Common Units representing limited partner interests vs Johnson & Johnson
ET vs JNJ
+0.126
Weak positive
When one moves up, the other tends to follow.
Energy Transfer LP Common Units representing limited partner interests
↗ET
Energy Transfer is a diversified midstream firm, operating from wellhead to consuming demand. It handles natural gas, natural gas liquids, or NGLs, crude oil, and refined products. Commodities are moved through its network of field level gathering and processing to refineries and demand centers. Operations are concentrated in Texas and the Midcontinent United States. It also controls Sunoco and USA Compression through its general partner relationship.
Market cap 65.2B · 22,311 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
ET and JNJ tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was +0.126 (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
+0.385
10 periods · Return correlation when both series rose
Both Falling
-0.518
6 periods · Return correlation when both series fell
Diverging
-0.711
19 periods · Return correlation when series moved apart
R-Squared
1.6%
Share of variance in one series explained by the other.
Trend Agreement
51.6%
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: [0.071, 0.180]
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
Energy Transfer LP Common Units representing limited partner interests
ET
Market cap 65.2B · 22,311 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
0.7547
Linear regression slope.
Intercept
157.9821
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
ET
Energy Transfer LP Common Units representing limited partner interests
Highest
+0.906
Eli Lilly & Co.
LLY · 1,254 data points
Lowest
+0.513
Micron Technology, Inc.
MU · 1,254 data points
Saved 4 hours ago · ID: stock-et-vs-stock-jnj-daily