Correlation Analysis
Johnson & Johnson vs SLB Limited
JNJ vs SLB
-0.021
Near-zero 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
SLB Limited
↗SLB
SLB is the world's premier oilfield-services company as measured by market share. While the industry is largely fragmented, SLB holds the first or second competitive position in many of the differentiated oligopolies in which it operates. Also known as Schlumberger, the company was founded in 1926 by two brothers bearing the same last name. Today, it's most known as a global industry leader in innovation, while it focuses its strategy on its three growth engines: core, digital, and new energy businesses. Over three-fourths of its revenue base is tied to international markets, while the company boasts nearly $3 billion in digital-related revenue.
Market cap 74.7B · 109,000 employees
Time Series
Relative Performance
Who Moves First
SLB leads JNJ by 6 days
SLB tends to move before JNJ.
After testing 13 timing shifts, the strongest relationship was -0.054 (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
+0.363
11 periods · Return correlation when both series rose
Both Falling
+0.217
9 periods · Return correlation when both series fell
Diverging
-0.670
15 periods · Return correlation when series moved apart
R-Squared
0.0%
Share of variance in one series explained by the other.
Trend Agreement
51.9%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,254
Deep shared window — 1,254 usable pairs.
Significance
n.s.
95% CI: [-0.076, 0.035]
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
SLB Limited
SLB
Market cap 74.7B · 109,000 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
46
Estimated crossover points between normalized spreads.
Slope
-0.0093
Linear regression slope.
Intercept
44.1597
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-jnj-vs-stock-slb-daily