Correlation Analysis
JPMorgan Chase & Co. vs Workday, Inc. Class A Common Stock
JPM vs WDAY
+0.200
Light 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
Workday, Inc. Class A Common Stock
↗WDAY
Workday is a software company that offers human capital management, financial management, and business planning solutions for enterprises. Known for being a cloud-only software provider, Workday was founded in 2005 and is headquartered in Pleasanton, California.
Market cap 33.3B · 21,000 employees
Time Series
Relative Performance
Who Moves First
WDAY leads JPM by 6 days
WDAY tends to move before JPM.
After testing 13 timing shifts, the strongest relationship was +0.225 (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
+0.279
14 periods · Return correlation when both series rose
Both Falling
-0.031
9 periods · Return correlation when both series fell
Diverging
-0.381
12 periods · Return correlation when series moved apart
R-Squared
4.0%
Share of variance in one series explained by the other.
Trend Agreement
58.4%
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: [0.147, 0.253]
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
Workday, Inc. Class A Common Stock
WDAY
Market cap 33.3B · 21,000 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
37
Estimated crossover points between normalized spreads.
Slope
0.1314
Linear regression slope.
Intercept
198.7241
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
WDAY
Workday, Inc. Class A Common Stock
Highest
+0.447
Amazon.Com Inc
AMZN · 1,254 data points
Lowest
-0.474
Johnson & Johnson
JNJ · 1,254 data points
Saved 7 hours ago · ID: stock-jpm-vs-stock-wday-daily