Correlation Analysis
Amazon.Com Inc vs Warner Bros. Discovery, Inc. Series A Common Stock
AMZN vs WBD
+0.222
Light 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
Warner Bros. Discovery, Inc. Series A Common Stock
↗WBD
Warner Bros. Discovery operates in three segments: streaming, studios, and linear networks. The streaming business includes HBO Max, which is rapidly increasing its international footprint in addition to its major presence in the US. Studios include industry leaders in both film and television, which produce movies and television series that are monetized in multiple ways, including theatrical release, sales to third parties, and feeding into Warner's own platforms. Global networks consist of basic cable networks like CNN, TNT, TBS, Discovery, HGTV, and The Food Network. The Discovery+ streaming service will remain part of global networks.
Market cap 68.7B · 35,500 employees
Time Series
Rebased to 100
Who Moves First
AMZN leads WBD by 6 days
AMZN tends to move before WBD.
Best correlation after shifting: +0.243 (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
-0.023
10 periods · Return correlation when both series rose
Both Falling
+0.805
7 periods · Return correlation when both series fell
Diverging
-0.382
18 periods · Return correlation when series moved apart
R-Squared
4.9%
Share of variance in one series explained by the other.
Trend Agreement
61.3%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,000
Deep shared window — 1,000 usable pairs.
Significance
p < 0.001
95% CI: [0.162, 0.280]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,000 paired observations survived the daily window.
Raw input
1,254
1,000
Normalized
1,254
1,000
Prepared
1,254
1,000
Aligned
1,000
1,000
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
254
A: 254 / B: 0
Series A
Amazon.Com Inc
AMZN
Market cap 2.3T
Stock · 1,254 raw → 1,254 prepared
Series B
Warner Bros. Discovery, Inc. Series A Common Stock
WBD
Market cap 68.7B · 35,500 employees
Stock · 1,000 raw → 1,000 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
3
Estimated crossover points between normalized spreads.
Slope
0.0267
Linear regression slope.
Intercept
8.8577
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
WBD
Warner Bros. Discovery, Inc. Series A Common Stock
Highest
+0.880
Johnson & Johnson
JNJ · 1,000 observations
Lowest
+0.077
Microsoft Corp
MSFT · 1,000 observations
Saved 3 hours ago · ID: stock-amzn-vs-stock-wbd-daily-20260408-p4f1yv