Correlation Analysis
JPMorgan Chase & Co. vs PPG Industries, Inc.
JPM vs PPG
-0.549
Moderate inverse
When one moves up, the other tends to move down.
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
PPG Industries, Inc.
↗PPG
PPG is a global producer of coatings. The company is the world's largest producer of coatings after the purchase of selected Akzo Nobel assets. PPG's products are sold to a wide variety of end users, including the automotive, aerospace, construction, and industrial markets. The company has a footprint in many regions around the globe, with less than half of sales coming from North America in recent years. PPG is focused on its coatings and specialty products and expansion into emerging regions, as exemplified by the Comex acquisition.
Market cap 23.2B · 43,500 employees
Time Series
Relative Performance
Who Moves First
JPM leads PPG by 6 days
JPM tends to move before PPG.
After testing 13 timing shifts, the strongest relationship was -0.553 (they moved in opposite directions).
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
+0.153
13 periods · Return correlation when both series rose
Both Falling
+0.122
9 periods · Return correlation when both series fell
Diverging
-0.538
13 periods · Return correlation when series moved apart
R-Squared
30.1%
Share of variance in one series explained by the other.
Trend Agreement
66.8%
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: [-0.587, -0.509]
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
PPG Industries, Inc.
PPG
Market cap 23.2B · 43,500 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
3
Estimated crossover points between normalized spreads.
Slope
-0.1700
Linear regression slope.
Intercept
163.6923
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 6 hours ago · ID: stock-jpm-vs-stock-ppg-daily