Correlation Analysis
Bank of America Corporation vs NetFlix Inc
BAC vs NFLX
+0.733
Strong positive
When one moves up, the other tends to follow.
Bank of America Corporation
↗BAC
Bank of America is one of the largest financial institutions in the United States, with more than $3.4 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.
Market cap 357.7B
NetFlix Inc
↗NFLX
Netflix's relatively simple business model involves only one business, its streaming service. It has the biggest television entertainment subscriber base in both the United States and the collective international market, with more than 300 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided a regular slate of live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm introduced ad-supported subscription plans in 2022, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.
Market cap 417.7B
Time Series
Relative Performance
Who Moves First
NFLX leads BAC by 6 days
NFLX tends to move before BAC.
After testing 13 timing shifts, the strongest relationship was +0.747 (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
+0.613
16 periods · Return correlation when both series rose
Both Falling
+0.006
7 periods · Return correlation when both series fell
Diverging
-0.614
12 periods · Return correlation when series moved apart
R-Squared
53.7%
Share of variance in one series explained by the other.
Trend Agreement
56.3%
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: [0.706, 0.758]
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
Bank of America Corporation
BAC
Market cap 357.7B
Stock · 1,254 raw → 1,254 prepared
Series B
NetFlix Inc
NFLX
Market cap 417.7B
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
17
Estimated crossover points between normalized spreads.
Slope
2.9869
Linear regression slope.
Intercept
-56.6465
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 8 hours ago · ID: stock-bac-vs-stock-nflx-daily