Correlation Analysis
Johnson & Johnson vs Permian Resources Corporation
JNJ vs PR
+0.262
Light 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
Permian Resources Corporation
↗PR
Permian Resources Corp is an independent oil and natural gas company focused on generating outsized returns to stakeholders through the responsible acquisition, optimization, and development of oil and liquids-rich natural gas assets. The Company's assets and operations are concentrated in the core of the Permian Basin, and its properties consist of large, contiguous acreage blocks located in West Texas and New Mexico.
Market cap 17.2B · 515 employees
Time Series
Relative Performance
Who Moves First
JNJ leads PR by 6 days
JNJ tends to move before PR.
After testing 13 timing shifts, the strongest relationship was +0.266 (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
+0.534
9 periods · Return correlation when both series rose
Both Falling
+0.334
6 periods · Return correlation when both series fell
Diverging
-0.632
20 periods · Return correlation when series moved apart
R-Squared
6.8%
Share of variance in one series explained by the other.
Trend Agreement
51.1%
How often both series moved in the same direction period-to-period.
Overlap Quality
900
Deep shared window — 900 usable pairs.
Significance
p < 0.001
95% CI: [0.200, 0.322]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
900 paired data points survived the daily window.
Raw input
1,254
900
Normalized
1,254
900
Prepared
1,254
900
Aligned
900
900
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
354
A: 354 / B: 0
Series A
Johnson & Johnson
JNJ
Market cap 580.4B
Stock · 1,254 raw → 1,254 prepared
Series B
Permian Resources Corporation
PR
Market cap 17.2B · 515 employees
Stock · 900 raw → 900 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
22
Estimated crossover points between normalized spreads.
Slope
0.0302
Linear regression slope.
Intercept
8.2716
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 4 hours ago · ID: stock-jnj-vs-stock-pr-daily