Correlation Analysis
JPMorgan Chase & Co. vs Western Digital Corp.
JPM vs WDC
+0.665
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
Western Digital Corp.
↗WDC
Western Digital is a leading vertically integrated supplier of hard disk drives. The HDD market is a practical duopoly, with Western Digital and Seagate being the two largest players. Western Digital designs and manufactures its HDDs, with much of the manufacturing and workforce located in Asia. The primary consumers of HDDs are data centers.
Market cap 103.1B · 40,000 employees
Time Series
Relative Performance
Who Moves First
JPM leads WDC by 6 days
JPM tends to move before WDC.
After testing 13 timing shifts, the strongest relationship was +0.675 (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
-0.006
14 periods · Return correlation when both series rose
Both Falling
+0.941
7 periods · Return correlation when both series fell
Diverging
-0.631
14 periods · Return correlation when series moved apart
R-Squared
44.3%
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: [0.633, 0.695]
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
Western Digital Corp.
WDC
Market cap 103.1B · 40,000 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
12
Estimated crossover points between normalized spreads.
Slope
0.5542
Linear regression slope.
Intercept
-34.8604
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-jpm-vs-stock-wdc-daily