Correlation Analysis
Tesla, Inc. Common Stock vs Waste Management, Inc.
TSLA vs WM
+0.443
Moderate positive
When one moves up, the other tends to follow.
Tesla, Inc. Common Stock
↗TSLA
Tesla is a vertically integrated battery electric vehicle automaker and developer of real world artificial intelligence software, which includes autonomous driving and humanoid robots. The company has multiple vehicles in its fleet, which include luxury and midsize sedans, crossover SUVs, a light truck, and a semi truck. Tesla also plans to begin selling a sports car and offer a robotaxi service. Global deliveries in 2025 were nearly 1.64 million vehicles. The company sells batteries for stationary storage for residential and commercial properties including utilities and solar panels and solar roofs for energy generation. Tesla also owns a fast-charging network and an auto insurance business.
Market cap 1.3T
Waste Management, Inc.
↗WM
WM, previously known as Waste Management, ranks as the largest integrated provider of traditional solid waste services in the United States, operating 257 active landfill sites and about 342 transfer stations that help with transporting waste efficiently and economically. The company serves residential, commercial, industrial, and medical end markets for waste collection, transfer, and disposal. The company also has an energy business emanating from the beneficial use of landfill gas and is a leading recycler in North America.
Market cap 94.2B · 60,500 employees
Time Series
Relative Performance
Who Moves First
WM leads TSLA by 6 days
WM tends to move before TSLA.
After testing 13 timing shifts, the strongest relationship was +0.445 (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
-0.176
11 periods · Return correlation when both series rose
Both Falling
-0.828
6 periods · Return correlation when both series fell
Diverging
-0.721
18 periods · Return correlation when series moved apart
R-Squared
19.6%
Share of variance in one series explained by the other.
Trend Agreement
51.8%
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: [0.397, 0.486]
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
Tesla, Inc. Common Stock
TSLA
Market cap 1.3T
Stock · 1,254 raw → 1,254 prepared
Series B
Waste Management, Inc.
WM
Market cap 94.2B · 60,500 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
64
Estimated crossover points between normalized spreads.
Slope
0.1679
Linear regression slope.
Intercept
138.2944
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 5 hours ago · ID: stock-tsla-vs-stock-wm-daily-20260408-ydsvll