SeriesMagCorrOverlapThrough
These move opposite each other about 50% of the time
Light inverse
Weak relationship — not much actionable signal here beyond directional colour.
Johnson & Johnson is the world's largest and most diverse healthcare firm. It has two divisions: innovative medicine and medtech. These now represent all of the company's sales following the divestment of the consumer business, Kenvue, in 2023. After restructurings in 2023-24, the drug division focuses on three main therapeutic areas: immunology, oncology, and neurology. Geographically, just over half of total revenue is generated in the United States.
Market cap 542.4B · 140,800 employees
ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model. The company primarily focuses on the IT function for enterprise customers. ServiceNow began with IT service management, expanded within the IT function, and more recently directed its workflow automation logic to functional areas beyond IT, notably customer service, HR service delivery, and security operations. ServiceNow also offers an application development platform as a service.
What to Watch
Unusual right now
Recent correlation (-87%) is 2.2σ from the long-run average of -25% — pair is behaving differently than usual.
Holds across regimes
Correlation is similar when markets rise (+15%) and fall (+20%) — reliable in both directions.
Regime-dependent
The correlation has flipped sign across time windows — not reliable as a standalone signal.
Time Series
Time-Shifted Correlation
See how correlation changes when one series is offset in time. A taller bar at a non-zero shift means the two move together better when one leads the other — that's a potential lead/lag signal.
Correlation by shift
Click a bar to inspect. Range: -6 to 6 days.
Selected shift
No shift
Correlation at this shift
-25%
No shift — both series at their actual dates.
1,255 overlapping points at this shift
Time series with SERVICENOW, INC. at original dates
Indexed to 100 at start
Deep Dive
Stability
How the correlation evolves over time. A stable line means the relationship is reliable; large swings signal regime-dependent behavior.
Corr
-25%
Pearson correlation
95% CI
-30% → -20%
Likely range
R²
6.3%
Variance explained
Trend agreement
49.9%
Same-direction moves
Significance
p < 0.001
Statistical confidence
Data points
1,255
Deep
Pipeline
Pipeline Summary
1,255 paired data points survived the daily window.
Raw input
1,255
1,255
Normalized
1,255
1,255
Prepared
1,255
1,255
Aligned
1,255
1,255
Invalid removed
Explore
The strongest positive and inverse pairs we’ve saved for each side of this comparison — good jumping-off points if this result raised a question.
Market cap 93.3B · 29,187 employees
Do They Crash Together?
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
+15%
85 periods · Return correlation when both series rose
Both Falling
+20%
77 periods · Return correlation when both series fell
Diverging
-60%
87 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
0
A: 0 / B: 0
Series A
Johnson & Johnson
JNJ
Market cap 542.4B · 140,800 employees
Stock · 1,255 raw → 1,255 prepared
Series B
SERVICENOW, INC.
NOW
Market cap 93.3B · 29,187 employees
Stock · 1,255 raw → 1,255 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
14
Estimated crossover points between normalized spreads.
Slope
-0.4761
Linear regression slope.
Intercept
214.4569
Linear regression intercept.
Saved 2 hours ago · ID: stock-jnj_stock-now_5y