Correlation Analysis
Coterra Energy Inc. vs NetFlix Inc
CTRA vs NFLX
-0.190
Weak inverse
When one moves up, the other tends to move down.
Coterra Energy Inc.
↗CTRA
Coterra Energy Inc is an independent oil and gas company engaged in the development, exploration, and production of oil, natural gas, and natural gas liquids (NGLs). Its operations are mainly concentrated in areas with hydrocarbon resources, which are conducive to multi-well, repeatable development programs, and include the Permian Basin located in Texas and New Mexico, the Marcellus Shale in northeast Pennsylvania, and the Anadarko Basin located in the mid-continent region in Oklahoma. The company operates in one segment, oil and natural gas development, exploration, and production, in the continental U.S.
Market cap 26.3B · 1,075 employees
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
CTRA leads NFLX by 6 days
CTRA tends to move before NFLX.
After testing 13 timing shifts, the strongest relationship was -0.206 (they moved in opposite directions).
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
+0.052
9 periods · Return correlation when both series rose
Both Falling
-0.357
5 periods · Return correlation when both series fell
Diverging
-0.730
21 periods · Return correlation when series moved apart
R-Squared
3.6%
Share of variance in one series explained by the other.
Trend Agreement
51.9%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,131
Deep shared window — 1,131 usable pairs.
Significance
p < 0.001
95% CI: [-0.246, -0.133]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,131 paired data points survived the daily window.
Raw input
1,131
1,254
Normalized
1,131
1,254
Prepared
1,131
1,254
Aligned
1,131
1,131
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
123
A: 0 / B: 123
Series A
Coterra Energy Inc.
CTRA
Market cap 26.3B · 1,075 employees
Stock · 1,131 raw → 1,131 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
14
Estimated crossover points between normalized spreads.
Slope
-2.1207
Linear regression slope.
Intercept
118.1983
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
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