Correlation Analysis
Tesla, Inc. Common Stock vs Zimmer Biomet Holdings, Inc.
TSLA vs ZBH
-0.475
Moderate inverse
When one moves up, the other tends to move down.
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
Zimmer Biomet Holdings, Inc.
↗ZBH
Zimmer Biomet designs, manufactures, and markets orthopedic reconstructive implants as well as supplies and surgical equipment for orthopedic surgery. With the acquisitions of Centerpulse in 2003 and Biomet in 2015, Zimmer holds the leading share of the reconstructive market in the United States, Europe, and Japan. Roughly two-thirds of total revenue is derived from sales of large joints; another fourth comes from extremities, trauma, sports medicine, and related surgical products. The firm spun out its dental and spine businesses in 2022.
Market cap 17.6B · 17,000 employees
Time Series
Relative Performance
Who Moves First
TSLA leads ZBH by 6 days
TSLA tends to move before ZBH.
After testing 13 timing shifts, the strongest relationship was -0.496 (they moved in opposite directions).
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
-0.487
8 periods · Return correlation when both series rose
Both Falling
+0.180
9 periods · Return correlation when both series fell
Diverging
-0.670
18 periods · Return correlation when series moved apart
R-Squared
22.5%
Share of variance in one series explained by the other.
Trend Agreement
56.8%
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: [-0.517, -0.431]
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
Zimmer Biomet Holdings, Inc.
ZBH
Market cap 17.6B · 17,000 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
31
Estimated crossover points between normalized spreads.
Slope
-0.1099
Linear regression slope.
Intercept
148.3107
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
TSLA
Tesla, Inc. Common Stock
Highest
+0.870
Reddit, Inc.
RDDT · 512 data points
Lowest
-0.817
Elevance Health, Inc.
ELV · 947 data points
ZBH
Zimmer Biomet Holdings, Inc.
Highest
-0.272
Johnson & Johnson
JNJ · 1,254 data points
Lowest
-0.753
Costco Wholesale Corp
COST · 1,254 data points
Saved 7 hours ago · ID: stock-tsla-vs-stock-zbh-daily