Correlation Analysis
Liberty Media Corporation Series C Liberty Formula One Common Stock vs Johnson & Johnson
FWONK vs JNJ
+0.184
Weak positive
When one moves up, the other tends to follow.
Liberty Media Corporation Series C Liberty Formula One Common Stock
↗FWONK
Liberty Media Corp along with its subsidiaries is engaged in the media and entertainment industries in North America and the United Kingdom. The company owns interests in a high-quality portfolio of assets across the media, entertainment and sports industries. It operates in two reportable segment Formula 1 and MotoGP. It generates majority of its revenue from the Formula 1 segment. The company derives its maximum revenue from United Kingdom.
Market cap 21.6B · 1,674 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
FWONK leads JNJ by 6 days
FWONK tends to move before JNJ.
After testing 13 timing shifts, the strongest relationship was +0.201 (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
+0.630
10 periods · Return correlation when both series rose
Both Falling
-0.641
5 periods · Return correlation when both series fell
Diverging
-0.789
20 periods · Return correlation when series moved apart
R-Squared
3.4%
Share of variance in one series explained by the other.
Trend Agreement
52.2%
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: [0.130, 0.237]
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
Liberty Media Corporation Series C Liberty Formula One Common Stock
FWONK
Market cap 21.6B · 1,674 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
26
Estimated crossover points between normalized spreads.
Slope
0.2263
Linear regression slope.
Intercept
152.0528
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
FWONK
Liberty Media Corporation Series C Liberty Formula One Common Stock
Highest
+0.875
Mastercard Incorporated
MA · 1,254 data points
Lowest
+0.477
Micron Technology, Inc.
MU · 1,254 data points
Saved 6 hours ago · ID: stock-fwonk-vs-stock-jnj-daily