Correlation Analysis
Eli Lilly & Co. vs M&T Bank Corp.
LLY vs MTB
+0.463
Moderate positive
When one moves up, the other tends to follow.
Eli Lilly & Co.
↗LLY
Eli Lilly is a drug firm with a focus on neuroscience, cardiometabolic, cancer, and immunology. Lilly's key products include Verzenio for cancer; Mounjaro, Zepbound, Jardiance, Trulicity, Humalog, and Humulin for cardiometabolic; and Taltz and Olumiant for immunology.
Market cap 828.2B · 50,000 employees
M&T Bank Corp.
↗MTB
M&T Bank is a US regional bank with around $213 billion in assets as of Dec. 30, 2025. Headquartered in Buffalo, New York, the bank's footprint is mostly concentrated in New England and the US Mid-Atlantic. M&T Bank boasts a community banking approach, and boasts over 900 branches in 13 states and Washington, D.C. Apart from retail and commercial banking, M&T Bank also has wealth management operations through Wilmington Trust and a partnership with LPL Financial, and a corporate trust business.
Market cap 31.5B · 22,278 employees
Time Series
Relative Performance
Who Moves First
LLY leads MTB by 6 days
LLY tends to move before MTB.
After testing 13 timing shifts, the strongest relationship was +0.475 (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
+0.274
14 periods · Return correlation when both series rose
Both Falling
N/A
4 periods · Return correlation when both series fell
Diverging
-0.438
17 periods · Return correlation when series moved apart
R-Squared
21.4%
Share of variance in one series explained by the other.
Trend Agreement
51.6%
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: [0.418, 0.505]
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
Eli Lilly & Co.
LLY
Market cap 828.2B · 50,000 employees
Stock · 1,254 raw → 1,254 prepared
Series B
M&T Bank Corp.
MTB
Market cap 31.5B · 22,278 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
3
Estimated crossover points between normalized spreads.
Slope
0.0466
Linear regression slope.
Intercept
137.3461
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-lly-vs-stock-mtb-daily