Correlation Analysis
Johnson & Johnson vs PPG Industries, Inc.
JNJ vs PPG
-0.254
Light inverse
When one moves up, the other tends to move down.
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
PPG Industries, Inc.
↗PPG
PPG is a global producer of coatings. The company is the world's largest producer of coatings after the purchase of selected Akzo Nobel assets. PPG's products are sold to a wide variety of end users, including the automotive, aerospace, construction, and industrial markets. The company has a footprint in many regions around the globe, with less than half of sales coming from North America in recent years. PPG is focused on its coatings and specialty products and expansion into emerging regions, as exemplified by the Comex acquisition.
Market cap 23.2B · 43,500 employees
Time Series
Relative Performance
Who Moves First
PPG leads JNJ by 6 days
PPG tends to move before JNJ.
After testing 13 timing shifts, the strongest relationship was -0.258 (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
+0.268
10 periods · Return correlation when both series rose
Both Falling
-0.254
11 periods · Return correlation when both series fell
Diverging
-0.618
14 periods · Return correlation when series moved apart
R-Squared
6.5%
Share of variance in one series explained by the other.
Trend Agreement
58.3%
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: [-0.305, -0.202]
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
PPG Industries, Inc.
PPG
Market cap 23.2B · 43,500 employees
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
-0.2545
Linear regression slope.
Intercept
174.1401
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 4 hours ago · ID: stock-jnj-vs-stock-ppg-daily