Correlation Analysis
Johnson & Johnson vs Woodward, Inc.
JNJ vs WWD
+0.633
Moderate 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
Woodward, Inc.
↗WWD
Woodward Inc is an independent designer, manufacturer, and service provider of control solutions for the aerospace and industrial markets. It designs, produces, and services reliable, efficient, low-emission, and high-performance energy control products for diverse applications in challenging environments. The company operates in two segments, Aerospace and Industrial. The Aerospace segment provides fuel pumps, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, and flight deck controls, actuators, servo controls, motors, and sensors for aircraft. The Industrial segment offers actuators, valves, pumps, fuel injection systems, solenoids, ignition systems, speed controls, electronics and software, and sensors.
Market cap 22.6B · 10,200 employees
Time Series
Relative Performance
Who Moves First
WWD leads JNJ by 6 days
WWD tends to move before JNJ.
After testing 13 timing shifts, the strongest relationship was +0.633 (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
+0.864
11 periods · Return correlation when both series rose
Both Falling
-0.330
7 periods · Return correlation when both series fell
Diverging
-0.481
17 periods · Return correlation when series moved apart
R-Squared
40.0%
Share of variance in one series explained by the other.
Trend Agreement
52.0%
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: [0.598, 0.665]
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
Woodward, Inc.
WWD
Market cap 22.6B · 10,200 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
5
Estimated crossover points between normalized spreads.
Slope
2.2600
Linear regression slope.
Intercept
-222.8368
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-jnj-vs-stock-wwd-daily