Correlation Analysis
Amazon.Com Inc vs News Corporation Class B Common Stock
AMZN vs NWS
+0.915
Very strong positive
When one moves up, the other tends to follow.
Amazon.Com Inc
↗AMZN
Amazon is the leading online retailer and marketplace for third party sellers. Retail related revenue represents approximately 74% of total, followed by Amazon Web Services (17%), and advertising services (9%). International segments constitute 22% of Amazon's total revenue, led by Germany, the United Kingdom, and Japan.
Market cap 2.3T
News Corporation Class B Common Stock
↗NWS
News Corporation is a diversified media conglomerate with big presence in the US, the UK, and Australia. Key mastheads include The Wall Street Journal, Barron's, New York Post, The Times, The Sun, The Australian, Herald Sun, and The Daily Telegraph. Its 61%-owned REA Group is the dominant property listings platform in Australia. In addition, it owns Harper Collins, one of the largest book publishers in the world, and has a sizable US digital property advertising business, Move. The 65% interest in Foxtel, the Australian pay-TV and streaming provider, was sold in April 2025. The sale to global sports streaming platform, DAZN, was struck at more than 7 times Foxtel's EBITDA.
Market cap 15.5B · 22,300 employees
Time Series
Relative Performance
Who Moves First
NWS leads AMZN by 1 day
NWS tends to move before AMZN.
After testing 13 timing shifts, the strongest relationship was +0.915 (they moved in the same direction).
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
+0.293
14 periods · Return correlation when both series rose
Both Falling
+0.856
8 periods · Return correlation when both series fell
Diverging
-0.657
13 periods · Return correlation when series moved apart
R-Squared
83.7%
Share of variance in one series explained by the other.
Trend Agreement
63.1%
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: [0.905, 0.923]
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
Amazon.Com Inc
AMZN
Market cap 2.3T
Stock · 1,254 raw → 1,254 prepared
Series B
News Corporation Class B Common Stock
NWS
Market cap 15.5B · 22,300 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
34
Estimated crossover points between normalized spreads.
Slope
0.1140
Linear regression slope.
Intercept
5.6611
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
AMZN
Amazon.Com Inc
Highest
+0.941
Grayscale Bitcoin Trust ETF
GBTC · 1,066 data points
Lowest
-0.877
Humana Inc.
HUM · 1,254 data points
NWS
News Corporation Class B Common Stock
Highest
+0.927
NetFlix Inc
NFLX · 1,254 data points
Lowest
+0.046
Johnson & Johnson
JNJ · 1,254 data points
Saved 5 hours ago · ID: stock-amzn-vs-stock-nws-daily-20260408-49j9p1