Correlation Analysis
Johnson & Johnson vs AT&T Inc.
JNJ vs T
+0.350
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
AT&T Inc.
↗T
The wireless business contributes nearly 70% of AT&T's revenue. The company is the third-largest US wireless carrier, connecting 74 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 14% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential services, about 11% of revenue, primarily consist of in-home broadband internet access, serving 15 million customers. AT&T also has a sizable presence in Mexico, with 25 million wireless customers, but this business only accounts for 3% of revenue. The company recently sold its 70% equity stake in satellite television provider DirecTV to its partner, private equity firm TPG.
Market cap 197.7B · 133,030 employees
Time Series
Relative Performance
Who Moves First
in sync
JNJ and T tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was +0.350 (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
+0.941
9 periods · Return correlation when both series rose
Both Falling
+0.247
10 periods · Return correlation when both series fell
Diverging
-0.582
16 periods · Return correlation when series moved apart
R-Squared
12.3%
Share of variance in one series explained by the other.
Trend Agreement
62.6%
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: [0.301, 0.398]
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
AT&T Inc.
T
Market cap 197.7B · 133,030 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
45
Estimated crossover points between normalized spreads.
Slope
0.0863
Linear regression slope.
Intercept
7.4681
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 6 hours ago · ID: stock-jnj-vs-stock-t-daily