Correlation Analysis
Apple Inc. vs Nextpower Inc. Class A Common Stock
AAPL vs NXT
+0.687
Strong positive
When one moves up, the other tends to follow.
Apple Inc.
↗AAPL
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.
Market cap 3.8T
Nextpower Inc. Class A Common Stock
↗NXT
Nextpower (and its subsidiaries) is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Nextpower's products enable solar panels in utility-scale power plants to follow the sun's movement across the sky and optimize plant performance. Nextpower has operations in the United States, Mexico, Spain and other countries in Europe, India, Australia, the Middle East, Africa, and Brazil.
Market cap 16B · 1,300 employees
Time Series
Rebased to 100
Who Moves First
in sync
AAPL and NXT tend to move at the same time.
Best correlation after shifting: +0.687 (13 shifts scanned)
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
+0.155
12 periods · Return correlation when both series rose
Both Falling
N/A
3 periods · Return correlation when both series fell
Diverging
-0.660
20 periods · Return correlation when series moved apart
R-Squared
47.1%
Share of variance in one series explained by the other.
Trend Agreement
58.1%
How often both series moved in the same direction period-to-period.
Overlap Quality
791
Deep shared window — 791 usable pairs.
Significance
p < 0.001
95% CI: [0.648, 0.722]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
791 paired observations survived the daily window.
Raw input
1,254
791
Normalized
1,254
791
Prepared
1,254
791
Aligned
791
791
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
463
A: 463 / B: 0
Series A
Apple Inc.
AAPL
Market cap 3.8T
Stock · 1,254 raw → 1,254 prepared
Series B
Nextpower Inc. Class A Common Stock
NXT
Market cap 16B · 1,300 employees
Stock · 791 raw → 791 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
20
Estimated crossover points between normalized spreads.
Slope
0.4680
Linear regression slope.
Intercept
-44.5893
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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