Correlation Analysis
Broadcom Inc. Common Stock vs S&P Global Inc.
AVGO vs SPGI
+0.729
Strong positive
When one moves up, the other tends to follow.
Broadcom Inc. Common Stock
↗AVGO
Broadcom is one of the largest semiconductor companies in the world and has also expanded into infrastructure software. Its semiconductors primarily serve computing and networking, with custom AI accelerators now accounting for the bulk of the business. It is primarily a fabless designer, but holds some manufacturing in-house, such as for its best-of-breed film bulk acoustic resonator filters that sell into the Apple iPhone. In software, it sells virtualization, infrastructure, and security software to large enterprises, financial institutions, and governments. Broadcom is the product of consolidation. Its businesses are an amalgamation of former companies like legacy Broadcom and Avago Technologies in chips, as well as VMware, Brocade, CA Technologies, and Symantec in software.
Market cap 1.5T
S&P Global Inc.
↗SPGI
S&P Global provides data and benchmarks to capital and commodity market participants. Its ratings business is the largest credit rating agency in the world and S&P's largest segment by profitability. S&P's largest segment by revenue is market intelligence, which provides desktop, data and advisory solutions, enterprise solutions, and credit/risk solutions mostly in the financial-services industry. S&P's other segments include energy (formerly commodity insights, this segment includes Platts and other data), mobility (Carfax), and indexes. S&P plans to spin off mobility in 2026.
Market cap 128.5B · 44,500 employees
Time Series
Rebased to 100
Who Moves First
SPGI leads AVGO by 6 days
SPGI tends to move before AVGO.
Best correlation after shifting: +0.737 (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
+0.149
18 periods · Return correlation when both series rose
Both Falling
+0.384
7 periods · Return correlation when both series fell
Diverging
-0.563
10 periods · Return correlation when series moved apart
R-Squared
53.1%
Share of variance in one series explained by the other.
Trend Agreement
60.8%
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: [0.702, 0.754]
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
Broadcom Inc. Common Stock
AVGO
Market cap 1.5T
Stock · 1,254 raw → 1,254 prepared
Series B
S&P Global Inc.
SPGI
Market cap 128.5B · 44,500 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
49
Estimated crossover points between normalized spreads.
Slope
0.4732
Linear regression slope.
Intercept
365.8373
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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