Correlation Analysis
HEICO Corporation vs Johnson & Johnson
HEI vs JNJ
+0.365
Light positive
When one moves up, the other tends to follow.
HEICO Corporation
↗HEI
Heico is an aerospace and defense supplier that focuses on creating replacement parts for commercial aircraft and components for defense products. In commercial aerospace, Heico is the largest independent producer of replacement aircraft parts. In the defense market, the company produces niche subcomponents used in targeting technology as well as simulation equipment, among other categories. It operates as two segments: the flight support group and the electronic technologies group. Both supply the aerospace and defense sectors to different degrees. Heico is persistently acquisitive, focusing on companies in similar or adjacent markets that offer strong cash flow and profitable growth potential.
Market cap 38.6B · 11,100 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
HEI leads JNJ by 6 days
HEI tends to move before JNJ.
After testing 13 timing shifts, the strongest relationship was +0.385 (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
-0.229
12 periods · Return correlation when both series rose
Both Falling
-0.115
9 periods · Return correlation when both series fell
Diverging
-0.538
14 periods · Return correlation when series moved apart
R-Squared
13.3%
Share of variance in one series explained by the other.
Trend Agreement
52.3%
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: [0.316, 0.412]
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
HEICO Corporation
HEI
Market cap 38.6B · 11,100 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
7
Estimated crossover points between normalized spreads.
Slope
0.1089
Linear regression slope.
Intercept
146.3819
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 4 hours ago · ID: stock-hei-vs-stock-jnj-daily