Most relationships are modest
Tone and earnings usually do not move in tight lockstep.
This project tests whether the tone of management's MD&A moves with changes in financial performance across 9,697 S&P 500 10-K and 10-Q filings.
The analysis measures a same-filing relationship, not a forecast.
From the filing text to the comparison with reported results.
Across the S&P 500, most companies showed weak-to-moderate relationships between management tone and quarterly earnings. A smaller group showed stronger and more consistent patterns.
Tone and earnings usually do not move in tight lockstep.
After adjusting for hundreds of company tests, a minority remain statistically notable. That is not the same as proof. Why that matters
Positive, negative, high-agreement, and near-zero examples all appear in the data.
A few educational examples: stronger relationships, results that do not survive the multiple-testing adjustment, and near-zero cases.
Management tone tended to become more positive when quarterly earnings improved.
One of the stronger positive relationships in the published set.
Showed a moderate negative relationship, but the result did not survive the multiple-testing adjustment.
Tone and earnings moved in the same direction in all 13 comparable quarters.
Showed little relationship between MD&A tone and quarterly net income.
Default board: quarterly MD&A tone vs net income, at least 8 observations, relationship strength first.
Quarterly tone vs net income · at least 8 observations · relationship strength first.
| Company | Relationship | Sample |
|---|---|---|
| MCO Moody's Corporation When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR | Strong positive Strength 0.91 | 15 quarterly observations |
| MS Morgan Stanley When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR | Strong positive Strength 0.91 | 15 quarterly observations |
| JBHT J.B. Hunt When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR | Strong positive Strength 0.90 | 15 quarterly observations |
| SHW Sherwin-Williams When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR | Strong positive Strength 0.90 | 15 quarterly observations |
| MTD Mettler Toledo When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR | Strong positive Strength 0.88 | 15 quarterly observations |
| URI United Rentals When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR | Strong positive Strength 0.87 | 14 quarterly observations |
Quarterly tone vs net income · at least 8 observations · relationship strength first.
| Company | Relationship | Sample |
|---|---|---|
| CRM Salesforce | Strong negative Strength -0.79 | 15 quarterly observations |
| CMG Chipotle Mexican Grill | Strong negative Strength -0.72 | 15 quarterly observations |
| NOW ServiceNow | Moderate negative Strength -0.67 | 15 quarterly observations |
| FITB Fifth Third Bancorp | Moderate negative Strength -0.62 | 13 quarterly observations |
| BIIB Biogen | Moderate negative Strength -0.56 | 14 quarterly observations |
| KIM Kimco Realty | Moderate negative Strength -0.54 | 15 quarterly observations |
A few contrasts between stronger and flatter industry patterns.
Period-matched filings, rank-based relationship measures, direction agreement, sample-size rules, and a multiple-testing adjustment, with limitations stated plainly.
Does quarterly management tone tend to move with quarterly net income? Why sample size matters
440 companies shown
| Company | Industry | Relationship | Sample | Status |
|---|---|---|---|---|
| MCO Moody's Corporation | Financials | Strong positive Strength 0.91 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| MS Morgan Stanley | Financials | Strong positive Strength 0.91 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| JBHT J.B. Hunt | Industrials | Strong positive Strength 0.90 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| SHW Sherwin-Williams | Materials | Strong positive Strength 0.90 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| MTD Mettler Toledo | Health Care | Strong positive Strength 0.88 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| URI United Rentals | Industrials | Strong positive Strength 0.87 | 14 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| BBY Best Buy | Consumer Discretionary | Strong positive Strength 0.87 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| NVR NVR, Inc. | Consumer Discretionary | Strong positive Strength 0.86 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| NXPI NXP Semiconductors | Information Technology | Strong positive Strength 0.86 | 14 quarterly observations | n/a |
| ODFL Old Dominion | Industrials | Strong positive Strength 0.86 | 14 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| STLD Steel Dynamics | Materials | Strong positive Strength 0.85 | 10 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| AAPL Apple Inc. | Information Technology | Strong positive Strength 0.85 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| DE Deere & Company | Industrials | Strong positive Strength 0.85 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| NUE Nucor | Materials | Strong positive Strength 0.85 | 15 quarterly observations | n/a |
| FAST Fastenal | Industrials | Strong positive Strength 0.84 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| TXN Texas Instruments | Information Technology | Strong positive Strength 0.83 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| CVX Chevron Corporation | Energy | Strong positive Strength 0.83 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| ETN Eaton Corporation | Industrials | Strong positive Strength 0.83 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| IQV IQVIA | Health Care | Strong positive Strength 0.82 | 14 quarterly observations | n/a |
| MU Micron Technology | Information Technology | Strong positive Strength 0.82 | 15 quarterly observations | n/a |
| VLO Valero Energy | Energy | Strong positive Strength 0.82 | 15 quarterly observations | n/a |
| SCHW Charles Schwab Corporation | Financials | Strong positive Strength 0.81 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| SNA Snap-on | Industrials | Strong positive Strength 0.80 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| AMCR Amcor | Materials | Strong positive Strength 0.80 | 15 quarterly observations | n/a |
| ON ON Semiconductor | Information Technology | Strong positive Strength 0.80 | 15 quarterly observations | n/a |
| AZO AutoZone | Consumer Discretionary | Strong positive Strength 0.79 | 15 quarterly observations | n/a |
| BAC Bank of America | Financials | Strong positive Strength 0.79 | 15 quarterly observations | n/a |
| CSX CSX Corporation | Industrials | Strong positive Strength 0.79 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| WDC Western Digital | Information Technology | Strong positive Strength 0.78 | 15 quarterly observations | n/a |
| AVY Avery Dennison | Materials | Strong positive Strength 0.78 | 15 quarterly observations | n/a |
| NEE NextEra Energy | Utilities | Strong positive Strength 0.78 | 14 quarterly observations | n/a |
| ADI Analog Devices | Information Technology | Strong positive Strength 0.78 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| CIEN Ciena | Information Technology | Strong positive Strength 0.77 | 15 quarterly observations | n/a |
| PSX Phillips 66 | Energy | Strong positive Strength 0.76 | 15 quarterly observations | n/a |
| DHI D. R. Horton | Consumer Discretionary | Strong positive Strength 0.76 | 15 quarterly observations | n/a |
| EXPD Expeditors International | Industrials | Strong positive Strength 0.76 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| SBUX Starbucks | Consumer Discretionary | Strong positive Strength 0.76 | 15 quarterly observations | n/a |
| SYY Sysco | Consumer Staples | Strong positive Strength 0.76 | 15 quarterly observations | n/a |
| HCA HCA Healthcare | Health Care | Strong positive Strength 0.75 | 14 quarterly observations | n/a |
| BLDR Builders FirstSource | Industrials | Strong positive Strength 0.75 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| PKG Packaging Corporation of America | Materials | Strong positive Strength 0.75 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| NKE Nike, Inc. | Consumer Discretionary | Strong positive Strength 0.75 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| WST West Pharmaceutical Services | Health Care | Strong positive Strength 0.75 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| HD Home Depot (The) | Consumer Discretionary | Strong positive Strength 0.74 | 15 quarterly observations | n/a |
| LITE Lumentum | Information Technology | Strong positive Strength 0.74 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| DOW Dow Inc. | Materials | Strong positive Strength 0.74 | 14 quarterly observations | n/a |
| GRMN Garmin | Consumer Discretionary | Strong positive Strength 0.74 | 14 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| FTNT Fortinet | Information Technology | Strong positive Strength 0.74 | 15 quarterly observations | n/a |
| ADM Archer Daniels Midland | Consumer Staples | Strong positive Strength 0.73 | 15 quarterly observations | n/a |
| GPC Genuine Parts Company | Consumer Discretionary | Strong positive Strength 0.73 | 15 quarterly observations | n/a |
| STX Seagate Technology | Information Technology | Strong positive Strength 0.73 | 15 quarterly observations | n/a |
| ULTA Ulta Beauty | Consumer Discretionary | Strong positive Strength 0.73 | 15 quarterly observations | n/a |
| FIS Fidelity National Information Services | Financials | Strong positive Strength 0.73 | 15 quarterly observations | n/a |
| GNRC Generac | Industrials | Strong positive Strength 0.73 | 15 quarterly observations | n/a |
| DHR Danaher Corporation | Health Care | Strong positive Strength 0.72 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| HAL Halliburton | Energy | Strong positive Strength 0.72 | 15 quarterly observations | n/a |
| COP ConocoPhillips | Energy | Strong positive Strength 0.71 | 15 quarterly observations | n/a |
| MPC Marathon Petroleum | Energy | Strong positive Strength 0.71 | 15 quarterly observations | n/a |
| CASY Casey's | Consumer Staples | Strong positive Strength 0.71 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| LEN Lennar | Consumer Discretionary | Strong positive Strength 0.71 | 15 quarterly observations | n/a |
| GS Goldman Sachs | Financials | Strong positive Strength 0.70 | 15 quarterly observations | n/a |
| IBM IBM | Information Technology | Moderate positive Strength 0.69 | 15 quarterly observations | n/a |
| TER Teradyne | Information Technology | Moderate positive Strength 0.69 | 15 quarterly observations | n/a |
| WFC Wells Fargo | Financials | Moderate positive Strength 0.69 | 15 quarterly observations | n/a |
| YUM Yum! Brands | Consumer Discretionary | Moderate positive Strength 0.68 | 15 quarterly observations | n/a |
| CHRW C.H. Robinson | Industrials | Moderate positive Strength 0.68 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| CLX Clorox | Consumer Staples | Moderate positive Strength 0.68 | 15 quarterly observations | n/a |
| HII Huntington Ingalls Industries | Industrials | Moderate positive Strength 0.68 | 15 quarterly observations | n/a |
| LULU Lululemon Athletica | Consumer Discretionary | Moderate positive Strength 0.68 | 15 quarterly observations | n/a |
| TSCO Tractor Supply | Consumer Discretionary | Moderate positive Strength 0.68 | 15 quarterly observations | n/a |
| NDAQ Nasdaq, Inc. | Financials | Moderate positive Strength 0.67 | 15 quarterly observations | n/a |
| MCD McDonald's | Consumer Discretionary | Moderate positive Strength 0.66 | 15 quarterly observations | n/a |
| DUK Duke Energy | Utilities | Moderate positive Strength 0.66 | 14 quarterly observations | n/a |
| OMC Omnicom Group | Communication Services | Moderate positive Strength 0.66 | 14 quarterly observations | n/a |
| WY Weyerhaeuser | Real Estate | Moderate positive Strength 0.65 | 15 quarterly observations | n/a |
| XEL Xcel Energy | Utilities | Moderate positive Strength 0.65 | 15 quarterly observations | n/a |
| D Dominion Energy | Utilities | Moderate positive Strength 0.65 | 14 quarterly observations | n/a |
| SOLV Solventum | Health Care | Moderate positive Strength 0.64 | 8 quarterly observations | n/a |
| EVRG Evergy | Utilities | Moderate positive Strength 0.64 | 14 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| EBAY eBay Inc. | Consumer Discretionary | Moderate positive Strength 0.64 | 15 quarterly observations | n/a |
| NVDA Nvidia | Information Technology | Moderate positive Strength 0.64 | 15 quarterly observations | n/a |
| CFG Citizens Financial Group | Financials | Moderate positive Strength 0.63 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| ORLY O'Reilly Automotive | Consumer Discretionary | Moderate positive Strength 0.63 | 15 quarterly observations | n/a |
| TPL Texas Pacific Land Corporation | Energy | Moderate positive Strength 0.63 | 15 quarterly observations | n/a |
| WMT Walmart | Consumer Staples | Moderate positive Strength 0.63 | 15 quarterly observations | n/a |
| LHX L3Harris | Industrials | Moderate positive Strength 0.63 | 15 quarterly observations | n/a |
| SLB Schlumberger | Energy | Moderate positive Strength 0.62 | 15 quarterly observations | n/a |
| ROK Rockwell Automation | Industrials | Moderate positive Strength 0.62 | 15 quarterly observations | n/a |
| GWW W. W. Grainger | Industrials | Moderate positive Strength 0.61 | 15 quarterly observations | n/a |
| PANW Palo Alto Networks | Information Technology | Moderate positive Strength 0.61 | 15 quarterly observations | n/a |
| IEX IDEX Corporation | Industrials | Moderate positive Strength 0.60 | 15 quarterly observations | n/a |
| MCHP Microchip Technology | Information Technology | Moderate positive Strength 0.60 | 15 quarterly observations | n/a |
| CHD Church & Dwight | Consumer Staples | Moderate positive Strength 0.59 | 15 quarterly observations | n/a |
| DECK Deckers Brands | Consumer Discretionary | Moderate positive Strength 0.59 | 15 quarterly observations | n/a |
| NSC Norfolk Southern | Industrials | Moderate positive Strength 0.59 | 15 quarterly observations | n/a |
| PEP PepsiCo | Consumer Staples | Moderate positive Strength 0.59 | 15 quarterly observations | n/a |
| ELV Elevance Health | Health Care | Moderate positive Strength 0.58 | 15 quarterly observations | n/a |
| PGR Progressive Corporation | Financials | Moderate positive Strength 0.58 | 15 quarterly observations | n/a |
| AOS A. O. Smith | Industrials | Moderate positive Strength 0.57 | 15 quarterly observations | n/a |
| ERIE Erie Indemnity | Financials | Moderate positive Strength 0.57 | 15 quarterly observations | n/a |
| PHM PulteGroup | Consumer Discretionary | Moderate positive Strength 0.56 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| GL Globe Life | Financials | Moderate positive Strength 0.56 | 15 quarterly observations | n/a |
| ED Consolidated Edison | Utilities | Moderate positive Strength 0.56 | 14 quarterly observations | n/a |
| GOOGL Alphabet Inc. (Class A) | Communication Services | Moderate positive Strength 0.55 | 15 quarterly observations | n/a |
| PCAR Paccar | Industrials | Moderate positive Strength 0.55 | 15 quarterly observations | n/a |
| MDLZ Mondelez International | Consumer Staples | Moderate positive Strength 0.55 | 14 quarterly observations | n/a |
| KDP Keurig Dr Pepper | Consumer Staples | Moderate positive Strength 0.55 | 15 quarterly observations | n/a |
| CBOE Cboe Global Markets | Financials | Moderate positive Strength 0.55 | 8 quarterly observations | n/a |
| CRH CRH plc | Materials | Moderate positive Strength 0.55 | 8 quarterly observations | n/a |
| KEYS Keysight Technologies | Information Technology | Moderate positive Strength 0.55 | 8 quarterly observations | n/a |
| RDDT Reddit | Communication Services | Moderate positive Strength 0.55 | 8 quarterly observations | n/a |
| HUBB Hubbell Incorporated | Industrials | Moderate positive Strength 0.55 | 14 quarterly observations | n/a |
| COIN Coinbase | Financials | Moderate positive Strength 0.55 | 15 quarterly observations | n/a |
| FISV Fiserv | Financials | Moderate positive Strength 0.55 | 15 quarterly observations | n/a |
| CSCO Cisco | Information Technology | Moderate positive Strength 0.54 | 15 quarterly observations | n/a |
| DOV Dover Corporation | Industrials | Moderate positive Strength 0.54 | 15 quarterly observations | n/a |
| CPT Camden Property Trust | Real Estate | Moderate positive Strength 0.53 | 15 quarterly observations | n/a |
| CTAS Cintas | Industrials | Moderate positive Strength 0.53 | 15 quarterly observations | n/a |
| HSY Hershey Company (The) | Consumer Staples | Moderate positive Strength 0.53 | 15 quarterly observations | n/a |
| VZ Verizon | Communication Services | Moderate positive Strength 0.53 | 15 quarterly observations | n/a |
| RL Ralph Lauren Corporation | Consumer Discretionary | Moderate positive Strength 0.53 | 15 quarterly observations | n/a |
| UPS United Parcel Service | Industrials | Moderate positive Strength 0.52 | 13 quarterly observations | n/a |
| INTC Intel | Information Technology | Moderate positive Strength 0.51 | 15 quarterly observations | n/a |
| ROST Ross Stores | Consumer Discretionary | Moderate positive Strength 0.51 | 15 quarterly observations | n/a |
| TROW T. Rowe Price | Financials | Moderate positive Strength 0.51 | 15 quarterly observations | n/a |
| ABT Abbott Laboratories | Health Care | Moderate positive Strength 0.51 | 14 quarterly observations | n/a |
| SPGI S&P Global | Financials | Moderate positive Strength 0.51 | 13 quarterly observations | n/a |
| AKAM Akamai Technologies | Information Technology | Moderate positive Strength 0.51 | 15 quarterly observations | n/a |
| KLAC KLA Corporation | Information Technology | Moderate positive Strength 0.51 | 15 quarterly observations | n/a |
| TRV Travelers Companies (The) | Financials | Moderate positive Strength 0.51 | 15 quarterly observations | n/a |
| UNH UnitedHealth Group | Health Care | Moderate positive Strength 0.51 | 15 quarterly observations | n/a |
| NDSN Nordson Corporation | Industrials | Moderate positive Strength 0.51 | 15 quarterly observations | n/a |
| EOG EOG Resources | Energy | Moderate positive Strength 0.50 | 15 quarterly observations | n/a |
| JCI Johnson Controls | Industrials | Moderate positive Strength 0.50 | 14 quarterly observations | n/a |
| ZTS Zoetis | Health Care | Moderate positive Strength 0.50 | 15 quarterly observations | n/a |
| NWS News Corp (Class B) | Communication Services | Moderate positive Strength 0.49 | 15 quarterly observations | n/a |
| NOC Northrop Grumman | Industrials | Moderate positive Strength 0.49 | 15 quarterly observations | n/a |
| SMCI Supermicro | Information Technology | Moderate positive Strength 0.49 | 15 quarterly observations | n/a |
| MSI Motorola Solutions | Information Technology | Moderate positive Strength 0.49 | 15 quarterly observations | n/a |
| UNP Union Pacific Corporation | Industrials | Moderate positive Strength 0.48 | 15 quarterly observations | n/a |
| T AT&T | Communication Services | Moderate positive Strength 0.48 | 15 quarterly observations | n/a |
| VLTO Veralto | Industrials | Moderate positive Strength 0.48 | 8 quarterly observations | n/a |
| CDW CDW Corporation | Information Technology | Moderate positive Strength 0.47 | 15 quarterly observations | n/a |
| CRWD CrowdStrike | Information Technology | Moderate positive Strength 0.47 | 15 quarterly observations | n/a |
| EFX Equifax | Industrials | Moderate positive Strength 0.47 | 15 quarterly observations | n/a |
| WMB Williams Companies | Energy | Moderate positive Strength 0.47 | 15 quarterly observations | n/a |
| HPE Hewlett Packard Enterprise | Information Technology | Moderate positive Strength 0.46 | 15 quarterly observations | n/a |
| J Jacobs Solutions | Industrials | Moderate positive Strength 0.46 | 15 quarterly observations | n/a |
| LLY Lilly (Eli) | Health Care | Moderate positive Strength 0.46 | 15 quarterly observations | n/a |
| PRU Prudential Financial | Financials | Moderate positive Strength 0.46 | 15 quarterly observations | n/a |
| AES AES Corporation | Utilities | Moderate positive Strength 0.46 | 15 quarterly observations | n/a |
| CNC Centene Corporation | Health Care | Moderate positive Strength 0.46 | 15 quarterly observations | n/a |
| RSG Republic Services | Industrials | Moderate positive Strength 0.46 | 15 quarterly observations | n/a |
| C Citigroup | Financials | Moderate positive Strength 0.46 | 13 quarterly observations | n/a |
| MAA Mid-America Apartment Communities | Real Estate | Moderate positive Strength 0.45 | 14 quarterly observations | n/a |
| WYNN Wynn Resorts | Consumer Discretionary | Moderate positive Strength 0.45 | 15 quarterly observations | n/a |
| ALGN Align Technology | Health Care | Moderate positive Strength 0.45 | 15 quarterly observations | n/a |
| DG Dollar General | Consumer Staples | Moderate positive Strength 0.45 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| CRL Charles River Laboratories | Health Care | Moderate positive Strength 0.44 | 15 quarterly observations | n/a |
| ROL Rollins, Inc. | Industrials | Moderate positive Strength 0.44 | 15 quarterly observations | n/a |
| CTSH Cognizant | Information Technology | Moderate positive Strength 0.44 | 14 quarterly observations | n/a |
| LRCX Lam Research | Information Technology | Moderate positive Strength 0.44 | 15 quarterly observations | n/a |
| MSFT Microsoft | Information Technology | Moderate positive Strength 0.44 | 15 quarterly observations | n/a |
| DGX Quest Diagnostics | Health Care | Moderate positive Strength 0.43 | 15 quarterly observations | n/a |
| BKR Baker Hughes | Energy | Moderate positive Strength 0.43 | 15 quarterly observations | n/a |
| CSGP CoStar Group | Real Estate | Moderate positive Strength 0.43 | 15 quarterly observations | n/a |
| PWR Quanta Services | Industrials | Moderate positive Strength 0.43 | 15 quarterly observations | n/a |
| FANG Diamondback Energy | Energy | Moderate positive Strength 0.42 | 15 quarterly observations | n/a |
| XYL Xylem Inc. | Industrials | Moderate positive Strength 0.42 | 15 quarterly observations | n/a |
| CNP CenterPoint Energy | Utilities | Moderate positive Strength 0.42 | 14 quarterly observations | n/a |
| ALL Allstate | Financials | Moderate positive Strength 0.42 | 15 quarterly observations | n/a |
| DASH DoorDash | Consumer Discretionary | Moderate positive Strength 0.42 | 15 quarterly observations | n/a |
| EQT EQT Corporation | Energy | Moderate positive Strength 0.42 | 15 quarterly observations | n/a |
| LII Lennox International | Industrials | Moderate positive Strength 0.42 | 14 quarterly observations | n/a |
| PODD Insulet Corporation | Health Care | Moderate positive Strength 0.42 | 14 quarterly observations | n/a |
| CVS CVS Health | Health Care | Moderate positive Strength 0.42 | 15 quarterly observations | n/a |
| NFLX Netflix | Communication Services | Moderate positive Strength 0.41 | 15 quarterly observations | n/a |
| COST Costco | Consumer Staples | Moderate positive Strength 0.41 | 15 quarterly observations | n/a |
| FSLR First Solar | Information Technology | Moderate positive Strength 0.41 | 15 quarterly observations | n/a |
| EXE Expand Energy | Energy | Moderate positive Strength 0.41 | 13 quarterly observations | n/a |
| MPWR Monolithic Power Systems | Information Technology | Moderate positive Strength 0.41 | 13 quarterly observations | n/a |
| PG Procter & Gamble | Consumer Staples | Moderate positive Strength 0.40 | 15 quarterly observations | n/a |
| WDAY Workday, Inc. | Information Technology | Moderate positive Strength 0.40 | 15 quarterly observations | n/a |
| PLTR Palantir Technologies | Information Technology | Moderate positive Strength 0.40 | 15 quarterly observations | n/a |
| MOS Mosaic Company (The) | Materials | Weak positive Strength 0.39 | 15 quarterly observations | n/a |
| OTIS Otis Worldwide | Industrials | Weak positive Strength 0.39 | 15 quarterly observations | n/a |
| GLW Corning Inc. | Information Technology | Weak positive Strength 0.39 | 14 quarterly observations | n/a |
| AXON Axon Enterprise | Industrials | Weak positive Strength 0.39 | 15 quarterly observations | n/a |
| MO Altria | Consumer Staples | Weak positive Strength 0.38 | 15 quarterly observations | n/a |
| VMRK Vivmark Residential | Real Estate | Weak positive Strength 0.38 | 15 quarterly observations | n/a |
| VRSK Verisk Analytics | Industrials | Weak positive Strength 0.38 | 14 quarterly observations | n/a |
| AMAT Applied Materials | Information Technology | Weak positive Strength 0.37 | 15 quarterly observations | n/a |
| BR Broadridge Financial Solutions | Industrials | Weak positive Strength 0.37 | 15 quarterly observations | n/a |
| LYV Live Nation Entertainment | Communication Services | Weak positive Strength 0.37 | 15 quarterly observations | n/a |
| HON Honeywell Technologies | Industrials | Weak positive Strength 0.37 | 15 quarterly observations | n/a |
| AMP Ameriprise Financial | Financials | Weak positive Strength 0.37 | 9 quarterly observations | n/a |
| MDT Medtronic | Health Care | Weak positive Strength 0.36 | 15 quarterly observations | n/a |
| DD DuPont | Industrials | Weak positive Strength 0.36 | 15 quarterly observations | n/a |
| PTC PTC Inc. | Information Technology | Weak positive Strength 0.36 | 15 quarterly observations | n/a |
| TXT Textron | Industrials | Weak positive Strength 0.36 | 15 quarterly observations | n/a |
| AIZ Assurant | Financials | Weak positive Strength 0.35 | 15 quarterly observations | n/a |
| TAP Molson Coors Beverage Company | Consumer Staples | Weak positive Strength 0.35 | 14 quarterly observations | n/a |
| HRL Hormel Foods | Consumer Staples | Weak positive Strength 0.35 | 15 quarterly observations | n/a |
| CAH Cardinal Health | Health Care | Weak positive Strength 0.35 | 14 quarterly observations | n/a |
| LVS Las Vegas Sands | Consumer Discretionary | Weak positive Strength 0.34 | 15 quarterly observations | n/a |
| MGM MGM Resorts | Consumer Discretionary | Weak positive Strength 0.34 | 15 quarterly observations | n/a |
| UHS Universal Health Services | Health Care | Weak positive Strength 0.34 | 15 quarterly observations | n/a |
| WSM Williams-Sonoma, Inc. | Consumer Discretionary | Weak positive Strength 0.34 | 15 quarterly observations | n/a |
| GIS General Mills | Consumer Staples | Weak positive Strength 0.34 | 15 quarterly observations | n/a |
| MKC McCormick & Company | Consumer Staples | Weak positive Strength 0.34 | 15 quarterly observations | n/a |
| TGT Target Corporation | Consumer Staples | Weak positive Strength 0.34 | 15 quarterly observations | n/a |
| BX Blackstone Inc. | Financials | Weak positive Strength 0.34 | 15 quarterly observations | n/a |
| COR Cencora | Health Care | Weak positive Strength 0.33 | 15 quarterly observations | n/a |
| DPZ Domino's | Consumer Discretionary | Weak positive Strength 0.33 | 15 quarterly observations | n/a |
| XOM ExxonMobil | Energy | Weak positive Strength 0.32 | 15 quarterly observations | n/a |
| IFF International Flavors & Fragrances | Materials | Weak positive Strength 0.32 | 15 quarterly observations | n/a |
| GDDY GoDaddy | Information Technology | Weak positive Strength 0.32 | 14 quarterly observations | n/a |
| BEN Franklin Resources | Financials | Weak positive Strength 0.32 | 15 quarterly observations | n/a |
| NRG NRG Energy | Utilities | Weak positive Strength 0.31 | 15 quarterly observations | n/a |
| SNPS Synopsys | Information Technology | Weak positive Strength 0.31 | 15 quarterly observations | n/a |
| LH Labcorp | Health Care | Weak positive Strength 0.31 | 15 quarterly observations | n/a |
| ALB Albemarle Corporation | Materials | Weak positive Strength 0.30 | 15 quarterly observations | n/a |
| CINF Cincinnati Financial | Financials | Weak positive Strength 0.30 | 15 quarterly observations | n/a |
| ORCL Oracle Corporation | Information Technology | Weak positive Strength 0.30 | 15 quarterly observations | n/a |
| XYZ Block, Inc. | Financials | Weak positive Strength 0.30 | 15 quarterly observations | n/a |
| CCL Carnival Corporation | Consumer Discretionary | Weak positive Strength 0.30 | 15 quarterly observations | n/a |
| CTVA Corteva | Materials | Weak positive Strength 0.30 | 15 quarterly observations | n/a |
| FDX FedEx | Industrials | Weak positive Strength 0.29 | 15 quarterly observations | n/a |
| TTWO Take-Two Interactive | Communication Services | Weak positive Strength 0.29 | 15 quarterly observations | n/a |
| MRSH Marsh McLennan | Financials | Weak positive Strength 0.29 | 15 quarterly observations | n/a |
| SWKS Skyworks Solutions | Information Technology | Weak positive Strength 0.29 | 15 quarterly observations | n/a |
| KR Kroger | Consumer Staples | Weak positive Strength 0.28 | 10 quarterly observations | n/a |
| BDX Becton Dickinson | Health Care | Weak positive Strength 0.28 | 15 quarterly observations | n/a |
| PSA Public Storage | Real Estate | Weak positive Strength 0.28 | 15 quarterly observations | n/a |
| KO Coca-Cola Company (The) | Consumer Staples | Weak positive Strength 0.28 | 14 quarterly observations | n/a |
| IR Ingersoll Rand | Industrials | Weak positive Strength 0.28 | 15 quarterly observations | n/a |
| MRK Merck & Co. | Health Care | Weak positive Strength 0.28 | 15 quarterly observations | n/a |
| QCOM Qualcomm | Information Technology | Weak positive Strength 0.28 | 15 quarterly observations | n/a |
| STZ Constellation Brands | Consumer Staples | Weak positive Strength 0.28 | 15 quarterly observations | n/a |
| DXCM Dexcom | Health Care | Weak positive Strength 0.27 | 15 quarterly observations | n/a |
| LMT Lockheed Martin | Industrials | Weak positive Strength 0.27 | 15 quarterly observations | n/a |
| RTX RTX Corporation | Industrials | Weak positive Strength 0.27 | 15 quarterly observations | n/a |
| DLR Digital Realty | Real Estate | Weak positive Strength 0.27 | 14 quarterly observations | n/a |
| REG Regency Centers | Real Estate | Weak positive Strength 0.27 | 14 quarterly observations | n/a |
| BAX Baxter International | Health Care | Weak positive Strength 0.26 | 15 quarterly observations | n/a |
| EG Everest Group | Financials | Weak positive Strength 0.26 | 11 quarterly observations | n/a |
| ECL Ecolab | Materials | Weak positive Strength 0.26 | 14 quarterly observations | n/a |
| A Agilent Technologies | Health Care | Weak positive Strength 0.26 | 15 quarterly observations | n/a |
| CBRE CBRE Group | Real Estate | Weak positive Strength 0.26 | 15 quarterly observations | n/a |
| MET MetLife | Financials | Weak positive Strength 0.26 | 15 quarterly observations | n/a |
| AIG American International Group | Financials | Weak positive Strength 0.25 | 13 quarterly observations | n/a |
| CB Chubb Limited | Financials | Weak positive Strength 0.25 | 14 quarterly observations | n/a |
| MAS Masco | Industrials | Weak positive Strength 0.25 | 14 quarterly observations | n/a |
| HIG Hartford (The) | Financials | Weak positive Strength 0.25 | 15 quarterly observations | n/a |
| KMI Kinder Morgan | Energy | Weak positive Strength 0.24 | 15 quarterly observations | n/a |
| LUV Southwest Airlines | Industrials | Weak positive Strength 0.24 | 15 quarterly observations | n/a |
| BA Boeing | Industrials | Weak positive Strength 0.23 | 15 quarterly observations | n/a |
| ACN Accenture | Information Technology | Weak positive Strength 0.23 | 15 quarterly observations | n/a |
| NEM Newmont | Materials | Weak positive Strength 0.23 | 15 quarterly observations | n/a |
| TT Trane Technologies | Industrials | Weak positive Strength 0.23 | 15 quarterly observations | n/a |
| NCLH Norwegian Cruise Line Holdings | Consumer Discretionary | Weak positive Strength 0.22 | 15 quarterly observations | n/a |
| INVH Invitation Homes | Real Estate | Weak positive Strength 0.22 | 15 quarterly observations | n/a |
| META Meta Platforms | Communication Services | Weak positive Strength 0.22 | 15 quarterly observations | n/a |
| PM Philip Morris International | Consumer Staples | Weak positive Strength 0.22 | 15 quarterly observations | n/a |
| COO Cooper Companies (The) | Health Care | Weak positive Strength 0.21 | 15 quarterly observations | n/a |
| KHC Kraft Heinz | Consumer Staples | Weak positive Strength 0.21 | 15 quarterly observations | n/a |
| LOW Lowe's | Consumer Discretionary | Weak positive Strength 0.21 | 15 quarterly observations | n/a |
| ADBE Adobe Inc. | Information Technology | Weak positive Strength 0.21 | 15 quarterly observations | n/a |
| JBL Jabil | Information Technology | Weak positive Strength 0.21 | 15 quarterly observations | n/a |
| TECH Bio-Techne | Health Care | Weak positive Strength 0.21 | 15 quarterly observations | n/a |
| DDOG Datadog | Information Technology | Weak positive Strength 0.20 | 15 quarterly observations | n/a |
| ALLE Allegion | Industrials | Weak positive Strength 0.20 | 9 quarterly observations | n/a |
| EMR Emerson Electric | Industrials | Weak positive Strength 0.20 | 15 quarterly observations | n/a |
| IT Gartner | Information Technology | Weak positive Strength 0.20 | 15 quarterly observations | n/a |
| UDR UDR, Inc. | Real Estate | Weak positive Strength 0.20 | 14 quarterly observations | n/a |
| DVN Devon Energy | Energy | Little or no relationship Strength 0.20 | 15 quarterly observations | n/a |
| GD General Dynamics | Industrials | Little or no relationship Strength 0.20 | 14 quarterly observations | n/a |
| UAL United Airlines Holdings | Industrials | Little or no relationship Strength 0.19 | 15 quarterly observations | n/a |
| CDNS Cadence Design Systems | Information Technology | Little or no relationship Strength 0.19 | 14 quarterly observations | n/a |
| BRO Brown & Brown | Financials | Little or no relationship Strength 0.18 | 15 quarterly observations | n/a |
| BF.B Brown–Forman | Consumer Staples | Little or no relationship Strength 0.18 | 15 quarterly observations | n/a |
| HSIC Henry Schein | Health Care | Little or no relationship Strength 0.18 | 15 quarterly observations | n/a |
| COHR Coherent Corp. | Information Technology | Little or no relationship Strength 0.17 | 15 quarterly observations | n/a |
| HAS Hasbro | Consumer Discretionary | Little or no relationship Strength 0.17 | 15 quarterly observations | n/a |
| LDOS Leidos | Industrials | Little or no relationship Strength 0.17 | 15 quarterly observations | n/a |
| FIX Comfort Systems USA | Industrials | Little or no relationship Strength 0.17 | 15 quarterly observations | n/a |
| TSN Tyson Foods | Consumer Staples | Little or no relationship Strength 0.17 | 15 quarterly observations | n/a |
| LNT Alliant Energy | Utilities | Little or no relationship Strength 0.17 | 8 quarterly observations | n/a |
| GEN Gen Digital | Information Technology | Little or no relationship Strength 0.16 | 15 quarterly observations | n/a |
| FRT Federal Realty Investment Trust | Real Estate | Little or no relationship Strength 0.16 | 14 quarterly observations | n/a |
| INCY Incyte | Health Care | Little or no relationship Strength 0.16 | 14 quarterly observations | n/a |
| MRVL Marvell Technology | Information Technology | Little or no relationship Strength 0.16 | 15 quarterly observations | n/a |
| ROP Roper Technologies | Information Technology | Little or no relationship Strength 0.16 | 15 quarterly observations | n/a |
| TRMB Trimble Inc. | Information Technology | Little or no relationship Strength 0.16 | 15 quarterly observations | n/a |
| PPL PPL Corporation | Utilities | Little or no relationship Strength 0.16 | 14 quarterly observations | n/a |
| GPN Global Payments | Financials | Little or no relationship Strength 0.15 | 15 quarterly observations | n/a |
| ISRG Intuitive Surgical | Health Care | Little or no relationship Strength 0.15 | 15 quarterly observations | n/a |
| VMC Vulcan Materials Company | Materials | Little or no relationship Strength 0.15 | 14 quarterly observations | n/a |
| HOOD Robinhood Markets | Financials | Little or no relationship Strength 0.15 | 15 quarterly observations | n/a |
| ICE Intercontinental Exchange | Financials | Little or no relationship Strength 0.15 | 15 quarterly observations | n/a |
| TEL TE Connectivity | Information Technology | Little or no relationship Strength 0.15 | 15 quarterly observations | n/a |
| STE Steris | Health Care | Little or no relationship Strength 0.15 | 15 quarterly observations | n/a |
| CVNA Carvana | Consumer Discretionary | Little or no relationship Strength 0.14 | 15 quarterly observations | n/a |
| ADP Automatic Data Processing | Industrials | Little or no relationship Strength 0.14 | 15 quarterly observations | n/a |
| KKR KKR & Co. | Financials | Little or no relationship Strength 0.14 | 15 quarterly observations | n/a |
| SJM J.M. Smucker Company (The) | Consumer Staples | Little or no relationship Strength 0.14 | 15 quarterly observations | n/a |
| TTD Trade Desk (The) | Communication Services | Little or no relationship Strength 0.14 | 15 quarterly observations | n/a |
| NI NiSource | Utilities | Little or no relationship Strength 0.13 | 15 quarterly observations | n/a |
| PPG PPG Industries | Materials | Little or no relationship Strength 0.13 | 14 quarterly observations | n/a |
| WBD Warner Bros. Discovery | Communication Services | Little or no relationship Strength 0.12 | 15 quarterly observations | n/a |
| MAR Marriott International | Consumer Discretionary | Little or no relationship Strength 0.11 | 15 quarterly observations | n/a |
| WM Waste Management | Industrials | Little or no relationship Strength 0.11 | 15 quarterly observations | n/a |
| EQIX Equinix | Real Estate | Little or no relationship Strength 0.09 | 14 quarterly observations | n/a |
| CPRT Copart | Industrials | Little or no relationship Strength 0.09 | 15 quarterly observations | n/a |
| TJX TJX Companies | Consumer Discretionary | Little or no relationship Strength 0.09 | 15 quarterly observations | n/a |
| CEG Constellation Energy | Utilities | Little or no relationship Strength 0.09 | 14 quarterly observations | n/a |
| HST Host Hotels & Resorts | Real Estate | Little or no relationship Strength 0.08 | 15 quarterly observations | n/a |
| NTAP NetApp | Information Technology | Little or no relationship Strength 0.08 | 15 quarterly observations | n/a |
| PNR Pentair | Industrials | Little or no relationship Strength 0.08 | 14 quarterly observations | n/a |
| KMB Kimberly-Clark | Consumer Staples | Little or no relationship Strength 0.07 | 15 quarterly observations | n/a |
| ARE Alexandria Real Estate Equities | Real Estate | Little or no relationship Strength 0.06 | 15 quarterly observations | n/a |
| LIN Linde plc | Materials | Little or no relationship Strength 0.06 | 15 quarterly observations | n/a |
| SBAC SBA Communications | Real Estate | Little or no relationship Strength 0.05 | 15 quarterly observations | n/a |
| VRTX Vertex Pharmaceuticals | Health Care | Little or no relationship Strength 0.05 | 15 quarterly observations | n/a |
| DELL Dell Technologies | Information Technology | Little or no relationship Strength 0.04 | 15 quarterly observations | n/a |
| EXR Extra Space Storage | Real Estate | Little or no relationship Strength 0.04 | 15 quarterly observations | n/a |
| RMD ResMed| | Health Care | Little or no relationship Strength 0.04 | 15 quarterly observations | n/a |
| MMM 3M | Industrials | Little or no relationship Strength 0.04 | 15 quarterly observations | n/a |
| CCI Crown Castle | Real Estate | Little or no relationship Strength 0.04 | 11 quarterly observations | n/a |
| IVZ Invesco | Financials | Little or no relationship Strength 0.04 | 11 quarterly observations | n/a |
| DTE DTE Energy | Utilities | Little or no relationship Strength 0.03 | 14 quarterly observations | n/a |
| WRB W. R. Berkley Corporation | Financials | Little or no relationship Strength 0.03 | 15 quarterly observations | n/a |
| EME Emcor | Industrials | Little or no relationship Strength 0.03 | 15 quarterly observations | n/a |
| GM General Motors | Consumer Discretionary | Little or no relationship Strength 0.03 | 15 quarterly observations | n/a |
| ABBV AbbVie | Health Care | Little or no relationship Strength 0.01 | 15 quarterly observations | n/a |
| APD Air Products | Materials | Little or no relationship Strength 0.01 | 15 quarterly observations | n/a |
| HWM Howmet Aerospace | Industrials | Little or no relationship Strength 0.01 | 15 quarterly observations | n/a |
| EW Edwards Lifesciences | Health Care | Little or no relationship Strength 0.01 | 10 quarterly observations | n/a |
| AWK American Water Works | Utilities | Little or no relationship Strength 0.00 | 15 quarterly observations | n/a |
| SYF Synchrony Financial | Financials | Little or no relationship Strength -0.00 | 15 quarterly observations | n/a |
| V Visa Inc. | Financials | Little or no relationship Strength -0.01 | 14 quarterly observations | n/a |
| ADSK Autodesk | Information Technology | Little or no relationship Strength -0.01 | 15 quarterly observations | n/a |
| ACGL Arch Capital Group | Financials | Little or no relationship Strength -0.01 | 15 quarterly observations | n/a |
| PLD Prologis | Real Estate | Little or no relationship Strength -0.02 | 14 quarterly observations | n/a |
| MRNA Moderna | Health Care | Little or no relationship Strength -0.02 | 15 quarterly observations | n/a |
| DLTR Dollar Tree | Consumer Staples | Little or no relationship Strength -0.02 | 15 quarterly observations | n/a |
| TRGP Targa Resources | Energy | Little or no relationship Strength -0.02 | 15 quarterly observations | n/a |
| CL Colgate-Palmolive | Consumer Staples | Little or no relationship Strength -0.03 | 15 quarterly observations | n/a |
| HLT Hilton Worldwide | Consumer Discretionary | Little or no relationship Strength -0.03 | 15 quarterly observations | n/a |
| TSLA Tesla, Inc. | Consumer Discretionary | Little or no relationship Strength -0.03 | 15 quarterly observations | n/a |
| VST Vistra Corp. | Utilities | Little or no relationship Strength -0.04 | 15 quarterly observations | n/a |
| INTU Intuit | Information Technology | Little or no relationship Strength -0.04 | 15 quarterly observations | n/a |
| O Realty Income | Real Estate | Little or no relationship Strength -0.04 | 13 quarterly observations | n/a |
| FICO Fair Isaac | Information Technology | Little or no relationship Strength -0.05 | 15 quarterly observations | n/a |
| NTRS Northern Trust | Financials | Little or no relationship Strength -0.05 | 15 quarterly observations | n/a |
| RCL Royal Caribbean Group | Consumer Discretionary | Little or no relationship Strength -0.05 | 15 quarterly observations | n/a |
| EXPE Expedia Group | Consumer Discretionary | Little or no relationship Strength -0.06 | 15 quarterly observations | n/a |
| SYK Stryker Corporation | Health Care | Little or no relationship Strength -0.06 | 15 quarterly observations | n/a |
| AON Aon plc | Financials | Little or no relationship Strength -0.06 | 14 quarterly observations | n/a |
| MCK McKesson Corporation | Health Care | Little or no relationship Strength -0.06 | 15 quarterly observations | n/a |
| VICI Vici Properties | Real Estate | Little or no relationship Strength -0.06 | 15 quarterly observations | n/a |
| TDY Teledyne Technologies | Information Technology | Little or no relationship Strength -0.07 | 15 quarterly observations | n/a |
| USB U.S. Bancorp | Financials | Little or no relationship Strength -0.08 | 14 quarterly observations | n/a |
| DOC Healthpeak Properties | Real Estate | Little or no relationship Strength -0.08 | 15 quarterly observations | n/a |
| SWK Stanley Black & Decker | Industrials | Little or no relationship Strength -0.10 | 15 quarterly observations | n/a |
| BRK.B Berkshire Hathaway | Financials | Little or no relationship Strength -0.10 | 15 quarterly observations | n/a |
| AMD Advanced Micro Devices | Information Technology | Little or no relationship Strength -0.10 | 14 quarterly observations | n/a |
| APTV Aptiv | Consumer Discretionary | Little or no relationship Strength -0.10 | 15 quarterly observations | n/a |
| PEG Public Service Enterprise Group | Utilities | Little or no relationship Strength -0.10 | 15 quarterly observations | n/a |
| DIS Walt Disney Company (The) | Communication Services | Little or no relationship Strength -0.11 | 15 quarterly observations | n/a |
| HBAN Huntington Bancshares | Financials | Little or no relationship Strength -0.11 | 14 quarterly observations | n/a |
| COF Capital One | Financials | Little or no relationship Strength -0.12 | 14 quarterly observations | n/a |
| MSCI MSCI | Financials | Little or no relationship Strength -0.12 | 15 quarterly observations | n/a |
| CMS CMS Energy | Utilities | Little or no relationship Strength -0.12 | 15 quarterly observations | n/a |
| WTW Willis Towers Watson | Financials | Little or no relationship Strength -0.12 | 15 quarterly observations | n/a |
| VRT Vertiv | Industrials | Little or no relationship Strength -0.13 | 15 quarterly observations | n/a |
| GE GE Aerospace | Industrials | Little or no relationship Strength -0.13 | 14 quarterly observations | n/a |
| AFL Aflac | Financials | Little or no relationship Strength -0.13 | 15 quarterly observations | n/a |
| PFE Pfizer | Health Care | Little or no relationship Strength -0.13 | 15 quarterly observations | n/a |
| TMUS T-Mobile US | Communication Services | Little or no relationship Strength -0.14 | 15 quarterly observations | n/a |
| L Loews Corporation | Financials | Little or no relationship Strength -0.14 | 15 quarterly observations | n/a |
| PYPL PayPal | Financials | Little or no relationship Strength -0.15 | 14 quarterly observations | n/a |
| GEHC GE HealthCare | Health Care | Little or no relationship Strength -0.15 | 10 quarterly observations | n/a |
| GILD Gilead Sciences | Health Care | Little or no relationship Strength -0.15 | 15 quarterly observations | n/a |
| CPAY Corpay | Financials | Little or no relationship Strength -0.16 | 15 quarterly observations | n/a |
| MTB M&T Bank | Financials | Little or no relationship Strength -0.17 | 15 quarterly observations | n/a |
| VRSN Verisign | Information Technology | Little or no relationship Strength -0.17 | 15 quarterly observations | n/a |
| AJG Arthur J. Gallagher & Co. | Financials | Little or no relationship Strength -0.17 | 15 quarterly observations | n/a |
| RJF Raymond James Financial | Financials | Little or no relationship Strength -0.17 | 15 quarterly observations | n/a |
| TDG TransDigm Group | Industrials | Little or no relationship Strength -0.17 | 15 quarterly observations | n/a |
| ZBRA Zebra Technologies | Information Technology | Little or no relationship Strength -0.18 | 15 quarterly observations | n/a |
| AMGN Amgen | Health Care | Little or no relationship Strength -0.18 | 15 quarterly observations | n/a |
| CMCSA Comcast | Communication Services | Little or no relationship Strength -0.19 | 15 quarterly observations | n/a |
| RVTY Revvity | Health Care | Little or no relationship Strength -0.19 | 15 quarterly observations | n/a |
| IP International Paper | Materials | Little or no relationship Strength -0.19 | 8 quarterly observations | n/a |
| BNY BNY Mellon | Financials | Weak negative Strength -0.20 | 15 quarterly observations | n/a |
| MLM Martin Marietta Materials | Materials | Weak negative Strength -0.20 | 15 quarterly observations | When hundreds of companies are tested, some can appear statistically notable by chance. This badge means the relationship still stood out after that adjustment. Read about FDR |
| ATO Atmos Energy | Utilities | Weak negative Strength -0.20 | 15 quarterly observations | n/a |
| BMY Bristol Myers Squibb | Health Care | Weak negative Strength -0.20 | 15 quarterly observations | n/a |
| PFG Principal Financial Group | Financials | Weak negative Strength -0.20 | 14 quarterly observations | n/a |
| UBER Uber | Industrials | Weak negative Strength -0.21 | 15 quarterly observations | n/a |
| STT State Street Corporation | Financials | Weak negative Strength -0.21 | 15 quarterly observations | n/a |
| GEV GE Vernova | Industrials | Weak negative Strength -0.21 | 8 quarterly observations | n/a |
| APO Apollo Global Management | Financials | Weak negative Strength -0.22 | 12 quarterly observations | n/a |
| WAB Wabtec | Industrials | Weak negative Strength -0.22 | 15 quarterly observations | n/a |
| IDXX Idexx Laboratories | Health Care | Weak negative Strength -0.24 | 15 quarterly observations | n/a |
| JNJ Johnson & Johnson | Health Care | Weak negative Strength -0.24 | 15 quarterly observations | n/a |
| APP AppLovin | Communication Services | Weak negative Strength -0.24 | 15 quarterly observations | n/a |
| FLEX Flex Ltd. | Information Technology | Weak negative Strength -0.24 | 12 quarterly observations | n/a |
| ANET Arista Networks | Information Technology | Weak negative Strength -0.24 | 15 quarterly observations | n/a |
| ZBH Zimmer Biomet | Health Care | Weak negative Strength -0.25 | 13 quarterly observations | n/a |
| DVA DaVita | Health Care | Weak negative Strength -0.25 | 15 quarterly observations | n/a |
| HPQ HP Inc. | Information Technology | Weak negative Strength -0.26 | 15 quarterly observations | n/a |
| BXP BXP, Inc. | Real Estate | Weak negative Strength -0.27 | 15 quarterly observations | n/a |
| REGN Regeneron Pharmaceuticals | Health Care | Weak negative Strength -0.27 | 15 quarterly observations | n/a |
| ABNB Airbnb | Consumer Discretionary | Weak negative Strength -0.29 | 15 quarterly observations | n/a |
| KEY KeyCorp | Financials | Weak negative Strength -0.29 | 15 quarterly observations | n/a |
| JKHY Jack Henry & Associates | Financials | Weak negative Strength -0.32 | 15 quarterly observations | n/a |
| TPR Tapestry, Inc. | Consumer Discretionary | Weak negative Strength -0.32 | 15 quarterly observations | n/a |
| ARES Ares Management | Financials | Weak negative Strength -0.33 | 9 quarterly observations | n/a |
| RF Regions Financial Corporation | Financials | Weak negative Strength -0.35 | 15 quarterly observations | n/a |
| FE FirstEnergy | Utilities | Weak negative Strength -0.37 | 14 quarterly observations | n/a |
| CHTR Charter Communications | Communication Services | Weak negative Strength -0.37 | 15 quarterly observations | n/a |
| HUM Humana | Health Care | Weak negative Strength -0.39 | 14 quarterly observations | n/a |
| FDS FactSet | Financials | Weak negative Strength -0.40 | 15 quarterly observations | n/a |
| TYL Tyler Technologies | Information Technology | Moderate negative Strength -0.40 | 15 quarterly observations | n/a |
| JPM JPMorgan Chase | Financials | Moderate negative Strength -0.42 | 15 quarterly observations | n/a |
| AXP American Express | Financials | Moderate negative Strength -0.42 | 15 quarterly observations | n/a |
| DRI Darden Restaurants | Consumer Discretionary | Moderate negative Strength -0.44 | 15 quarterly observations | n/a |
| VEEV Veeva Systems | Health Care | Moderate negative Strength -0.47 | 15 quarterly observations | n/a |
| FFIV F5, Inc. | Information Technology | Moderate negative Strength -0.49 | 15 quarterly observations | n/a |
| KVUE Kenvue | Consumer Staples | Moderate negative Strength -0.52 | 11 quarterly observations | n/a |
| AMZN Amazon | Consumer Discretionary | Moderate negative Strength -0.53 | 15 quarterly observations | n/a |
| DAL Delta Air Lines | Industrials | Moderate negative Strength -0.53 | 15 quarterly observations | n/a |
| KIM Kimco Realty | Real Estate | Moderate negative Strength -0.54 | 15 quarterly observations | n/a |
| BIIB Biogen | Health Care | Moderate negative Strength -0.56 | 14 quarterly observations | n/a |
| FITB Fifth Third Bancorp | Financials | Moderate negative Strength -0.62 | 13 quarterly observations | n/a |
| NOW ServiceNow | Information Technology | Moderate negative Strength -0.67 | 15 quarterly observations | n/a |
| CMG Chipotle Mexican Grill | Consumer Discretionary | Strong negative Strength -0.72 | 15 quarterly observations | n/a |
| CRM Salesforce | Information Technology | Strong negative Strength -0.79 | 15 quarterly observations | n/a |