Correlation Analysis
JPMorgan Chase & Co. vs Nextpower Inc. Class A Common Stock
JPM vs NXT
+0.737
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
Nextpower Inc. Class A Common Stock
↗NXT
Nextpower (and its subsidiaries) is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Nextpower's products enable solar panels in utility-scale power plants to follow the sun's movement across the sky and optimize plant performance. Nextpower has operations in the United States, Mexico, Spain and other countries in Europe, India, Australia, the Middle East, Africa, and Brazil.
Market cap 16B · 1,300 employees
Time Series
Relative Performance
Who Moves First
JPM leads NXT by 6 days
JPM tends to move before NXT.
After testing 13 timing shifts, the strongest relationship was +0.740 (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
+0.192
13 periods · Return correlation when both series rose
Both Falling
+0.193
7 periods · Return correlation when both series fell
Diverging
-0.761
15 periods · Return correlation when series moved apart
R-Squared
54.3%
Share of variance in one series explained by the other.
Trend Agreement
58.3%
How often both series moved in the same direction period-to-period.
Overlap Quality
791
Deep shared window — 791 usable pairs.
Significance
p < 0.001
95% CI: [0.704, 0.767]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
791 paired data points survived the daily window.
Raw input
1,254
791
Normalized
1,254
791
Prepared
1,254
791
Aligned
791
791
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
463
A: 463 / B: 0
Series A
JPMorgan Chase & Co.
JPM
Market cap 792.5B
Stock · 1,254 raw → 1,254 prepared
Series B
Nextpower Inc. Class A Common Stock
NXT
Market cap 16B · 1,300 employees
Stock · 791 raw → 791 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
13
Estimated crossover points between normalized spreads.
Slope
0.2783
Linear regression slope.
Intercept
-7.1113
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
NXT
Nextpower Inc. Class A Common Stock
Highest
+0.932
Micron Technology, Inc.
MU · 791 data points
Lowest
+0.504
Costco Wholesale Corp
COST · 791 data points
Saved 7 hours ago · ID: stock-jpm-vs-stock-nxt-daily