Correlation Analysis
Amazon.Com Inc vs Tradeweb Markets Inc. Class A Common Stock
AMZN vs TW
+0.840
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
Tradeweb Markets Inc. Class A Common Stock
↗TW
Founded in 1998 and headquartered in New York City, Tradeweb Markets is a leading fixed-income trading platform. While it does offer electronic processing for some voice-negotiated trades, the company focuses primarily on providing electronic trading networks that connect broker/dealers, institutional clients, and retail customers. While the company offers trading in a wide variety of products, the bulk of its business is in US and European government debt, mortgage-backed securities, interest-rate swaps, and US and international corporate bonds. The firm also sells fixed-income trading and price data, primarily through a deal with Refinitiv's Eikon service.
Market cap 26.3B · 1,569 employees
Time Series
Rebased to 100
Who Moves First
TW leads AMZN by 6 days
TW tends to move before AMZN.
Best correlation after shifting: +0.847 (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
+0.338
14 periods · Return correlation when both series rose
Both Falling
+0.756
5 periods · Return correlation when both series fell
Diverging
-0.497
16 periods · Return correlation when series moved apart
R-Squared
70.6%
Share of variance in one series explained by the other.
Trend Agreement
59.6%
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: [0.823, 0.856]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,254 paired observations 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
Tradeweb Markets Inc. Class A Common Stock
TW
Market cap 26.3B · 1,569 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
60
Estimated crossover points between normalized spreads.
Slope
0.4793
Linear regression slope.
Intercept
16.9203
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
AMZN
Amazon.Com Inc
Highest
+0.941
Grayscale Bitcoin Trust ETF
GBTC · 1,066 observations
Lowest
-0.877
Humana Inc.
HUM · 1,254 observations
TW
Tradeweb Markets Inc. Class A Common Stock
Highest
+0.892
Costco Wholesale Corp
COST · 1,254 observations
Lowest
+0.001
Johnson & Johnson
JNJ · 1,254 observations
Saved 3 hours ago · ID: stock-amzn-vs-stock-tw-daily-20260408-gen3lp