Correlation analysis of program structures

System and method for performing correlation analysis. A program that includes multiple program structures and one or more data objects is stored. Each data object is shared by at least two of the program structures. For each program structure, decomposition effects on each of the data objects shared by the program structure resulting from each of a respective one or more optimizing transforms applied to the program structure are analyzed. One or more groups of correlated structures are determined based on the analyzing. Each group includes two or more program structures that share at least one data object, and at least one optimizing transform that is compatible with respect to the two or more program structures and the shared data object. For at least one group, the at least one optimizing transform is usable to transform the two or more program structures to meet a specified optimization objective.