Correlation Analysis
JPMorgan Chase & Co. vs Loews Corporation
JPM vs L
+0.953
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
Loews Corporation
↗L
Loews Corp is a holding company along with its subsidiary engaged in commercial property and casualty insurance, transportation and storage of natural gas and natural gas liquids, operation of a chain of hotels, and also in the manufacture of rigid plastic packaging solutions. It has four reportable segments comprised of three individual consolidated operating subsidiaries, CNA Financial Corporation, Boardwalk Pipeline Partners, LP and Loews Hotels Holding Corporation; and the Corporate segment.
Market cap 22.2B · 13,100 employees
Time Series
Relative Performance
Who Moves First
in sync
JPM and L tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was +0.953 (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
+0.176
19 periods · Return correlation when both series rose
Both Falling
-0.358
6 periods · Return correlation when both series fell
Diverging
-0.617
10 periods · Return correlation when series moved apart
R-Squared
90.7%
Share of variance in one series explained by the other.
Trend Agreement
71.9%
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: [0.947, 0.957]
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
Loews Corporation
L
Market cap 22.2B · 13,100 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
7
Estimated crossover points between normalized spreads.
Slope
0.2501
Linear regression slope.
Intercept
24.3195
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 6 hours ago · ID: stock-jpm-vs-stock-l-daily