Correlation Analysis
Enterprise Products Partners L.P. vs NetFlix Inc
EPD vs NFLX
+0.710
Strong positive
When one moves up, the other tends to follow.
Enterprise Products Partners L.P.
↗EPD
Enterprise Products Partners is a master limited partnership that transports and processes natural gas, natural gas liquids, crude oil, refined products, and petrochemicals. It is one of the largest midstream companies, with operations servicing most producing regions in the continental US. Enterprise is particularly dominant in the NGL market and is one of the few MLPs that provide midstream services across the full hydrocarbon value chain.
Market cap 81.8B · 7,300 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
EPD leads NFLX by 6 days
EPD tends to move before NFLX.
After testing 13 timing shifts, the strongest relationship was +0.714 (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
+0.093
12 periods · Return correlation when both series rose
Both Falling
+0.550
5 periods · Return correlation when both series fell
Diverging
-0.784
18 periods · Return correlation when series moved apart
R-Squared
50.4%
Share of variance in one series explained by the other.
Trend Agreement
53.1%
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: [0.682, 0.736]
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
Enterprise Products Partners L.P.
EPD
Market cap 81.8B · 7,300 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
9
Estimated crossover points between normalized spreads.
Slope
5.8648
Linear regression slope.
Intercept
-100.8085
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
EPD
Enterprise Products Partners L.P.
Highest
+0.906
Walmart Inc. Common Stock
WMT · 1,254 data points
Lowest
+0.369
Johnson & Johnson
JNJ · 1,254 data points
Saved 7 hours ago · ID: stock-epd-vs-stock-nflx-daily