Correlation Analysis
Cognizant Technology Solutions vs NetFlix Inc
CTSH vs NFLX
+0.338
Light positive
When one moves up, the other tends to follow.
Cognizant Technology Solutions
↗CTSH
Cognizant Technology Solutions is a multinational IT services provider that offers a range of consulting and business process outsourcing services. Originally founded in India, the company is headquartered in the US and serves enterprise customers spanning the financial services, healthcare, and resources industries. With most of its workforce located in India, Cognizant leverages a global delivery model that helps clients outsource their IT needs to offshore labor.
Market cap 29.8B · 351,600 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
NFLX leads CTSH by 6 days
NFLX tends to move before CTSH.
After testing 13 timing shifts, the strongest relationship was +0.355 (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
+0.520
12 periods · Return correlation when both series rose
Both Falling
+0.943
6 periods · Return correlation when both series fell
Diverging
-0.545
17 periods · Return correlation when series moved apart
R-Squared
11.4%
Share of variance in one series explained by the other.
Trend Agreement
60.3%
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: [0.288, 0.386]
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
Cognizant Technology Solutions
CTSH
Market cap 29.8B · 351,600 employees
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
19
Estimated crossover points between normalized spreads.
Slope
1.2542
Linear regression slope.
Intercept
-29.1877
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
CTSH
Cognizant Technology Solutions
Highest
+0.296
Mastercard Incorporated
MA · 1,254 data points
Lowest
-0.295
Exxon Mobil Corporation
XOM · 1,254 data points
Saved 4 hours ago · ID: stock-ctsh-vs-stock-nflx-daily