Correlation Analysis
Johnson & Johnson vs Waste Connections, Inc.
JNJ vs WCN
+0.001
Near-zero 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
Waste Connections, Inc.
↗WCN
Waste Connections is a North American waste management company focused on integrated waste collection services. The firm primarily focuses on residential, commercial, municipal, and industrial waste collection, with a secondary market focus on rural areas. With 113 landfills and 222 transfer stations as of 2024, it is the third-largest waste management company by revenue. Revenue is split among six operating segments: Western, Southern, Eastern, Central, Canada, and Midsouth.
Market cap 42.2B · 24,214 employees
Time Series
Relative Performance
Who Moves First
JNJ leads WCN by 6 days
JNJ tends to move before WCN.
After testing 13 timing shifts, the strongest relationship was -0.028 (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
+0.386
12 periods · Return correlation when both series rose
Both Falling
-0.167
9 periods · Return correlation when both series fell
Diverging
-0.719
14 periods · Return correlation when series moved apart
R-Squared
0.0%
Share of variance in one series explained by the other.
Trend Agreement
61.7%
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: [-0.054, 0.057]
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
Waste Connections, Inc.
WCN
Market cap 42.2B · 24,214 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
18
Estimated crossover points between normalized spreads.
Slope
0.0014
Linear regression slope.
Intercept
152.3218
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 4 hours ago · ID: stock-jnj-vs-stock-wcn-daily