Correlation Analysis
Fox Corporation Class B Common Stock vs Johnson & Johnson
FOX vs JNJ
+0.518
Moderate positive
When one moves up, the other tends to follow.
Fox Corporation Class B Common Stock
↗FOX
Fox operates in two segments: cable networks and television. Cable networks primarily includes Fox News, Fox Business, and several pay TV sports stations. Television primarily includes the Fox broadcast network, 29 owned and operated local television stations, of which 18 are affiliated with the Fox network, and streaming platform Tubi, which is not subscription-based and is completely ad-supported. Fox effectively sold most of its entertainment assets to Disney in 2019, so it no longer creates entertainment content and relies heavily on live news and sports, with nearly all tied to the pay TV bundle. The Murdoch family controls Fox.
Market cap 22.8B · 10,400 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
FOX leads JNJ by 6 days
FOX tends to move before JNJ.
After testing 13 timing shifts, the strongest relationship was +0.542 (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
+0.655
9 periods · Return correlation when both series rose
Both Falling
-0.194
7 periods · Return correlation when both series fell
Diverging
-0.871
19 periods · Return correlation when series moved apart
R-Squared
26.8%
Share of variance in one series explained by the other.
Trend Agreement
55.3%
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: [0.476, 0.557]
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
Fox Corporation Class B Common Stock
FOX
Market cap 22.8B · 10,400 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
43
Estimated crossover points between normalized spreads.
Slope
1.0057
Linear regression slope.
Intercept
130.2050
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
FOX
Fox Corporation Class B Common Stock
Highest
+0.898
JPMorgan Chase & Co.
JPM · 1,254 data points
Lowest
+0.338
Exxon Mobil Corporation
XOM · 1,254 data points
Saved 7 hours ago · ID: stock-fox-vs-stock-jnj-daily