Correlation Analysis
JPMorgan Chase & Co. vs Thermo Fisher Scientific, Inc.
JPM vs TMO
-0.184
Weak 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
Thermo Fisher Scientific, Inc.
↗TMO
Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. The firm operates through four segments as of year-end 2024 (revenue figures include some cross-segment revenue): analytical technologies (17% of sales); specialty diagnostic products (11%); life science solutions (23%); and lab products and services, which includes CRO services (the remainder).
Market cap 181.4B
Time Series
Relative Performance
Who Moves First
TMO leads JPM by 6 days
TMO tends to move before JPM.
After testing 13 timing shifts, the strongest relationship was -0.193 (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
-0.196
15 periods · Return correlation when both series rose
Both Falling
+0.391
8 periods · Return correlation when both series fell
Diverging
-0.605
12 periods · Return correlation when series moved apart
R-Squared
3.4%
Share of variance in one series explained by the other.
Trend Agreement
61.4%
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: [-0.237, -0.130]
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
Thermo Fisher Scientific, Inc.
TMO
Market cap 181.4B
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
6
Estimated crossover points between normalized spreads.
Slope
-0.1557
Linear regression slope.
Intercept
569.3722
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-jpm-vs-stock-tmo-daily