Correlation Analysis
JPMorgan Chase & Co. vs KLA Corporation Common Stock
JPM vs KLAC
+0.900
Very strong positive
When one moves up, the other tends to follow.
JPMorgan Chase & Co.
↗JPM
JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with more than $4.4 trillion in assets. It is organized into four major segments: consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates and is subject to regulation in multiple countries.
Market cap 792.5B
KLA Corporation Common Stock
↗KLAC
KLA is one of the largest semiconductor wafer fabrication equipment, or WFE, manufacturers in the world. It specializes in the market segment of semiconductor process control, wherein machines inspect semiconductor wafers during research and development and manufacturing for defects and verify precise measurements. In this section of the market, KLA holds a majority share. It also has a small exposure to the etch and deposition segments of the WFE market. It counts as top customers the largest chipmakers in the world, including TSMC and Samsung.
Market cap 201.9B · 15,200 employees
Time Series
Relative Performance
Who Moves First
JPM leads KLAC by 6 days
JPM tends to move before KLAC.
After testing 13 timing shifts, the strongest relationship was +0.901 (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
+0.465
16 periods · Return correlation when both series rose
Both Falling
+0.893
6 periods · Return correlation when both series fell
Diverging
-0.663
13 periods · Return correlation when series moved apart
R-Squared
81.1%
Share of variance in one series explained by the other.
Trend Agreement
63.4%
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: [0.889, 0.910]
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
JPMorgan Chase & Co.
JPM
Market cap 792.5B
Stock · 1,254 raw → 1,254 prepared
Series B
KLA Corporation Common Stock
KLAC
Market cap 201.9B · 15,200 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
15
Estimated crossover points between normalized spreads.
Slope
4.4155
Linear regression slope.
Intercept
-232.1073
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
JPM
JPMorgan Chase & Co.
Highest
+0.977
Royal Caribbean Group
RCL · 1,254 data points
Lowest
-0.873
The Kraft Heinz Company Common Stock
KHC · 1,254 data points
KLAC
KLA Corporation Common Stock
Highest
+0.920
Walmart Inc. Common Stock
WMT · 1,254 data points
Lowest
+0.707
Exxon Mobil Corporation
XOM · 1,254 data points
Saved 7 hours ago · ID: stock-jpm-vs-stock-klac-daily