Correlation Analysis
GlobalFoundries Inc. Ordinary Shares vs Johnson & Johnson
GFS vs JNJ
-0.197
Weak inverse
When one moves up, the other tends to move down.
GlobalFoundries Inc. Ordinary Shares
↗GFS
GlobalFoundries is a top-five contract semiconductor manufacturer globally. It was originally the manufacturing arm of Advanced Micro Devices before it was spun out in 2009. The foundry sells chips into a range of end markets including smartphones, PCs, Internet of Things, data centers, automotive, industrial, and so on, but primarily focuses on more mature process technologies. Until 2021, the firm was privately held by Mubadala Investment, the sovereign wealth fund of the United Arab Emirates, which remains its controlling shareholder today. GlobalFoundries merged with Chartered Semiconductor Manufacturing in 2009 and acquired IBM's chipmaking business in 2015. GF is headquartered in Malta, New York, and has about 13,000 staff.
Market cap 23.9B · 14,000 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
GFS leads JNJ by 5 days
GFS tends to move before JNJ.
After testing 13 timing shifts, the strongest relationship was -0.200 (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
+0.048
11 periods · Return correlation when both series rose
Both Falling
+0.093
7 periods · Return correlation when both series fell
Diverging
-0.600
17 periods · Return correlation when series moved apart
R-Squared
3.9%
Share of variance in one series explained by the other.
Trend Agreement
51.2%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,113
Deep shared window — 1,113 usable pairs.
Significance
p < 0.001
95% CI: [-0.253, -0.140]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,113 paired data points survived the daily window.
Raw input
1,113
1,254
Normalized
1,113
1,254
Prepared
1,113
1,254
Aligned
1,113
1,113
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
141
A: 0 / B: 141
Series A
GlobalFoundries Inc. Ordinary Shares
GFS
Market cap 23.9B · 14,000 employees
Stock · 1,113 raw → 1,113 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
29
Estimated crossover points between normalized spreads.
Slope
-0.3979
Linear regression slope.
Intercept
188.6594
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
GFS
GlobalFoundries Inc. Ordinary Shares
Highest
-0.382
Exxon Mobil Corporation
XOM · 1,113 data points
Lowest
-0.807
Mastercard Incorporated
MA · 1,113 data points
Saved 4 hours ago · ID: stock-gfs-vs-stock-jnj-daily