Correlation Analysis
JPMorgan Chase & Co. vs Palo Alto Networks, Inc. Common Stock
JPM vs PANW
+0.851
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
Palo Alto Networks, Inc. Common Stock
↗PANW
Palo Alto Networks is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, and security operations. The California-based firm has more than 80,000 enterprise customers across the world, including more than three-fourths of the Global 2000.
Market cap 131.3B · 17,027 employees
Time Series
Relative Performance
Who Moves First
PANW leads JPM by 6 days
PANW tends to move before JPM.
After testing 13 timing shifts, the strongest relationship was +0.856 (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
+0.442
18 periods · Return correlation when both series rose
Both Falling
+0.930
5 periods · Return correlation when both series fell
Diverging
-0.875
12 periods · Return correlation when series moved apart
R-Squared
72.4%
Share of variance in one series explained by the other.
Trend Agreement
56.6%
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: [0.835, 0.865]
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
Palo Alto Networks, Inc. Common Stock
PANW
Market cap 131.3B · 17,027 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
20
Estimated crossover points between normalized spreads.
Slope
0.6433
Linear regression slope.
Intercept
7.5102
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
PANW
Palo Alto Networks, Inc. Common Stock
Highest
+0.953
Meta Platforms, Inc. Class A Common Stock
META · 1,107 data points
Lowest
+0.069
Johnson & Johnson
JNJ · 1,254 data points
Saved 7 hours ago · ID: stock-jpm-vs-stock-panw-daily