Correlation Analysis
JPMorgan Chase & Co. vs Xcel Energy, Inc.
JPM vs XEL
+0.357
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
Xcel Energy, Inc.
↗XEL
Xcel Energy manages utilities serving 3.9 million electric customers and 2.2 million natural gas customers in eight states. Its utilities are Northern States Power, which serves customers in Minnesota, North Dakota, South Dakota, Wisconsin, and Michigan; Public Service Company of Colorado; and Southwestern Public Service Company, which serves customers in Texas and New Mexico. It is one of the largest renewable energy suppliers in the US, with more than half of its electricity sales coming from carbon-free energy.
Market cap 50.2B · 11,534 employees
Time Series
Relative Performance
Who Moves First
JPM leads XEL by 6 days
JPM tends to move before XEL.
After testing 13 timing shifts, the strongest relationship was +0.369 (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
-0.338
15 periods · Return correlation when both series rose
Both Falling
-0.184
6 periods · Return correlation when both series fell
Diverging
-0.781
14 periods · Return correlation when series moved apart
R-Squared
12.7%
Share of variance in one series explained by the other.
Trend Agreement
55.9%
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: [0.308, 0.404]
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
Xcel Energy, Inc.
XEL
Market cap 50.2B · 11,534 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
0.0393
Linear regression slope.
Intercept
59.6624
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 6 hours ago · ID: stock-jpm-vs-stock-xel-daily