Correlation Analysis
Johnson & Johnson vs Palo Alto Networks, Inc. Common Stock
JNJ vs PANW
+0.069
Weak 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
Palo Alto Networks, Inc. Common Stock
↗PANW
Palo Alto Networks is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, and security operations. The California-based firm has more than 80,000 enterprise customers across the world, including more than three-fourths of the Global 2000.
Market cap 131.3B · 17,027 employees
Time Series
Relative Performance
Who Moves First
PANW leads JNJ by 6 days
PANW tends to move before JNJ.
After testing 13 timing shifts, the strongest relationship was +0.088 (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
-0.073
13 periods · Return correlation when both series rose
Both Falling
-0.346
5 periods · Return correlation when both series fell
Diverging
-0.707
17 periods · Return correlation when series moved apart
R-Squared
0.5%
Share of variance in one series explained by the other.
Trend Agreement
49.4%
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 < 0.05
95% CI: [0.013, 0.124]
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
Johnson & Johnson
JNJ
Market cap 580.4B
Stock · 1,254 raw → 1,254 prepared
Series B
Palo Alto Networks, Inc. Common Stock
PANW
Market cap 131.3B · 17,027 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
14
Estimated crossover points between normalized spreads.
Slope
0.1677
Linear regression slope.
Intercept
101.9700
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
PANW
Palo Alto Networks, Inc. Common Stock
Highest
+0.953
Meta Platforms, Inc. Class A Common Stock
META · 1,107 data points
Lowest
+0.478
Micron Technology, Inc.
MU · 1,254 data points
Saved 4 hours ago · ID: stock-jnj-vs-stock-panw-daily