Correlation Analysis
JPMorgan Chase & Co. vs Wabtec Inc.
JPM vs WAB
+0.939
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
Wabtec Inc.
↗WAB
Westinghouse Air Brake Technologies Corp provides value-added, technology-based products and services for the freight rail and passenger transit industries and the mining, marine, and industrial markets. It provides its products and services through two main business segments: Freight and Transit. The company generates maximum revenue from the Freight segment, which manufactures new and modernized locomotives, provides aftermarket parts and services to existing locomotives, provides components to new and existing freight cars; builds new commuter locomotives; supplies rail control and infrastructure products, including electronics, positive train control equipment, signal design, and engineering services. Geographically, it generates a majority of its revenue from the United States.
Market cap 43.2B · 31,000 employees
Time Series
Relative Performance
Who Moves First
in sync
JPM and WAB tend to move at the same time.
After testing 13 timing shifts, the strongest relationship was +0.939 (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
+0.478
18 periods · Return correlation when both series rose
Both Falling
+0.977
9 periods · Return correlation when both series fell
Diverging
-0.636
8 periods · Return correlation when series moved apart
R-Squared
88.1%
Share of variance in one series explained by the other.
Trend Agreement
70.3%
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: [0.932, 0.945]
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
Wabtec Inc.
WAB
Market cap 43.2B · 31,000 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
25
Estimated crossover points between normalized spreads.
Slope
0.7558
Linear regression slope.
Intercept
-7.1386
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 6 hours ago · ID: stock-jpm-vs-stock-wab-daily