Correlation Analysis
FirstEnergy Corp. vs Johnson & Johnson
FE vs JNJ
+0.719
Strong positive
When one moves up, the other tends to follow.
FirstEnergy Corp.
↗FE
FirstEnergy is an investor-owned holding company with operations across five mid-Atlantic and Midwestern states. FirstEnergy also owns and operates one of the nation's largest electric transmission systems.
Market cap 29.5B · 11,186 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
FE and JNJ tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was +0.719 (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
+0.473
15 periods · Return correlation when both series rose
Both Falling
-0.113
10 periods · Return correlation when both series fell
Diverging
-0.721
10 periods · Return correlation when series moved apart
R-Squared
51.7%
Share of variance in one series explained by the other.
Trend Agreement
65.7%
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: [0.691, 0.745]
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
FirstEnergy Corp.
FE
Market cap 29.5B · 11,186 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
39
Estimated crossover points between normalized spreads.
Slope
4.1040
Linear regression slope.
Intercept
2.3603
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 4 hours ago · ID: stock-fe-vs-stock-jnj-daily