Correlation Analysis
Johnson & Johnson vs Nextpower Inc. Class A Common Stock
JNJ vs NXT
+0.879
Very strong 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
Nextpower Inc. Class A Common Stock
↗NXT
Nextpower (and its subsidiaries) is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Nextpower's products enable solar panels in utility-scale power plants to follow the sun's movement across the sky and optimize plant performance. Nextpower has operations in the United States, Mexico, Spain and other countries in Europe, India, Australia, the Middle East, Africa, and Brazil.
Market cap 16B · 1,300 employees
Time Series
Relative Performance
Who Moves First
NXT leads JNJ by 6 days
NXT tends to move before JNJ.
After testing 13 timing shifts, the strongest relationship was +0.886 (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
+0.622
12 periods · Return correlation when both series rose
Both Falling
+0.218
5 periods · Return correlation when both series fell
Diverging
-0.742
18 periods · Return correlation when series moved apart
R-Squared
77.2%
Share of variance in one series explained by the other.
Trend Agreement
50.9%
How often both series moved in the same direction period-to-period.
Overlap Quality
791
Deep shared window — 791 usable pairs.
Significance
p < 0.001
95% CI: [0.862, 0.894]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
791 paired data points survived the daily window.
Raw input
1,254
791
Normalized
1,254
791
Prepared
1,254
791
Aligned
791
791
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
463
A: 463 / B: 0
Series A
Johnson & Johnson
JNJ
Market cap 580.4B
Stock · 1,254 raw → 1,254 prepared
Series B
Nextpower Inc. Class A Common Stock
NXT
Market cap 16B · 1,300 employees
Stock · 791 raw → 791 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
50
Estimated crossover points between normalized spreads.
Slope
0.8517
Linear regression slope.
Intercept
-88.6978
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
JNJ
Johnson & Johnson
Highest
+0.943
Sandisk Corporation Common Stock
SNDK · 281 data points
Lowest
-0.621
Kimberly-Clark Corp.
KMB · 1,254 data points
NXT
Nextpower Inc. Class A Common Stock
Highest
+0.932
Micron Technology, Inc.
MU · 791 data points
Lowest
+0.504
Costco Wholesale Corp
COST · 791 data points
Saved 7 hours ago · ID: stock-jnj-vs-stock-nxt-daily