Correlation Analysis
Johnson & Johnson vs Workday, Inc. Class A Common Stock
JNJ vs WDAY
-0.474
Moderate 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
Workday, Inc. Class A Common Stock
↗WDAY
Workday is a software company that offers human capital management, financial management, and business planning solutions for enterprises. Known for being a cloud-only software provider, Workday was founded in 2005 and is headquartered in Pleasanton, California.
Market cap 33.3B · 21,000 employees
Time Series
Relative Performance
Who Moves First
JNJ leads WDAY by 6 days
JNJ tends to move before WDAY.
After testing 13 timing shifts, the strongest relationship was -0.491 (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
-0.248
9 periods · Return correlation when both series rose
Both Falling
-0.095
9 periods · Return correlation when both series fell
Diverging
-0.863
17 periods · Return correlation when series moved apart
R-Squared
22.5%
Share of variance in one series explained by the other.
Trend Agreement
52.4%
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: [-0.516, -0.430]
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
Workday, Inc. Class A Common Stock
WDAY
Market cap 33.3B · 21,000 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
47
Estimated crossover points between normalized spreads.
Slope
-1.0050
Linear regression slope.
Intercept
393.1296
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
JNJ
Johnson & Johnson
Highest
+0.943
Sandisk Corporation Common Stock
SNDK · 281 data points
Lowest
-0.621
Kimberly-Clark Corp.
KMB · 1,254 data points
WDAY
Workday, Inc. Class A Common Stock
Highest
+0.447
Amazon.Com Inc
AMZN · 1,254 data points
Lowest
-0.324
Exxon Mobil Corporation
XOM · 1,254 data points
Saved 4 hours ago · ID: stock-jnj-vs-stock-wday-daily