Correlation Analysis
Johnson & Johnson vs Medline Inc. Class A common stock
JNJ vs MDLN
+0.529
Moderate positive
When one moves up, the other tends to follow.
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
Medline Inc. Class A common stock
↗MDLN
Medline is the largest medical-surgical products and supply chain solutions provider in the US. The company generates over 90% of its revenue domestically and serves some of the largest US health systems. Medline offers approximately 190,000 Medline-branded products across more than 250 product families—including front line care, surgical solutions, and laboratory and diagnostics—as well as roughly 150,000 third-party products sourced from over 1,250 vendors. The company maintains prime vendor relationships with many customers, acting as the primary consolidated logistics partner for their medical-surgical needs. Medline has significant scale, supported by more than 30 manufacturing facilities and a fleet of over 2,000 owned delivery trucks. Medline went public in December 2025.
Market cap 35.6B · 45,000 employees
Time Series
Relative Performance
Who Moves First
MDLN leads JNJ by 4 days
MDLN tends to move before JNJ.
After testing 13 timing shifts, the strongest relationship was +0.576 (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
+0.537
9 periods · Return correlation when both series rose
Both Falling
+0.061
8 periods · Return correlation when both series fell
Diverging
-0.588
18 periods · Return correlation when series moved apart
R-Squared
28.0%
Share of variance in one series explained by the other.
Trend Agreement
58.1%
How often both series moved in the same direction period-to-period.
Overlap Quality
75
Thin shared window — 75 usable pairs.
Significance
p < 0.001
95% CI: [0.343, 0.675]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
75 paired data points survived the daily window.
Raw input
1,254
75
Normalized
1,254
75
Prepared
1,254
75
Aligned
75
75
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
1,179
A: 1179 / B: 0
Series A
Johnson & Johnson
JNJ
Market cap 580.4B
Stock · 1,254 raw → 1,254 prepared
Series B
Medline Inc. Class A common stock
MDLN
Market cap 35.6B · 45,000 employees
Stock · 75 raw → 75 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.0850
Linear regression slope.
Intercept
24.3310
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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