Correlation Analysis
Extra Space Storage, Inc. vs Johnson & Johnson
EXR vs JNJ
-0.056
Weak inverse
When one moves up, the other tends to move down.
Extra Space Storage, Inc.
↗EXR
Extra Space Storage is a fully integrated real estate investment trust that owns, operates, and manages more than 4,200 self-storage properties in 43 states, with over 330 million net rentable square feet of storage space. Of these properties, approximately one half is wholly owned, while some facilities are owned through joint ventures and others are owned by third parties and managed by Extra Space Storage in exchange for a management fee.
Market cap 28.3B · 8,393 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
JNJ leads EXR by 6 days
JNJ tends to move before EXR.
After testing 13 timing shifts, the strongest relationship was -0.060 (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
-0.258
10 periods · Return correlation when both series rose
Both Falling
-0.132
11 periods · Return correlation when both series fell
Diverging
-0.601
14 periods · Return correlation when series moved apart
R-Squared
0.3%
Share of variance in one series explained by the other.
Trend Agreement
61.8%
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, -0.000]
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
Extra Space Storage, Inc.
EXR
Market cap 28.3B · 8,393 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
44
Estimated crossover points between normalized spreads.
Slope
-0.0471
Linear regression slope.
Intercept
175.9623
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 4 hours ago · ID: stock-exr-vs-stock-jnj-daily