Correlation Analysis
Alphabet Inc. Class C Capital Stock vs NextEra Energy, Inc.
GOOG vs NEE
+0.237
Light positive
When one moves up, the other tends to follow.
Alphabet Inc. Class C Capital Stock
↗GOOG
Alphabet is a holding company that wholly owns internet giant Google. The California-based company derives slightly less than 90% of its revenue from Google services, the vast majority of which is advertising sales. Alongside online ads, Google services houses sales stemming from Google's subscription services (YouTube TV and YouTube Music, among others), platforms (sales and in-app purchases on Play Store), and devices (Chromebooks, Pixel smartphones, and smart home products such as Chromecast). Google's cloud computing platform accounts for roughly 10% of Alphabet's revenue. The firm's investments in up-and-coming technologies such as self-driving cars (Waymo), health (Verily), and internet access (Google Fiber) make up the rest.
Market cap 3.6T · 190,820 employees
NextEra Energy, Inc.
↗NEE
NextEra Energy's regulated utility, Florida Power & Light, is the largest rate-regulated utility in Florida. The utility distributes power to over 6 million customer accounts in Florida and owns 36 gigawatts of generation. FP&L contributes roughly 70% of NextEra's consolidated operating earnings. NextEra Energy Resources, the renewable energy segment, generates and sells power throughout the United States and Canada with nearly 40 GW of generation capacity, including natural gas, nuclear, wind, and solar.
Market cap 193.4B · 17,400 employees
Time Series
Rebased to 100
Who Moves First
GOOG leads NEE by 6 days
GOOG tends to move before NEE.
Best correlation after shifting: +0.247 (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
+0.131
14 periods · Return correlation when both series rose
Both Falling
-0.151
6 periods · Return correlation when both series fell
Diverging
-0.601
15 periods · Return correlation when series moved apart
R-Squared
5.6%
Share of variance in one series explained by the other.
Trend Agreement
56.6%
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: [0.184, 0.288]
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
Alphabet Inc. Class C Capital Stock
GOOG
Market cap 3.6T · 190,820 employees
Stock · 1,254 raw → 1,254 prepared
Series B
NextEra Energy, Inc.
NEE
Market cap 193.4B · 17,400 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
27
Estimated crossover points between normalized spreads.
Slope
0.0367
Linear regression slope.
Intercept
69.9259
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
GOOG
Alphabet Inc. Class C Capital Stock
Highest
+0.948
Amphenol Corporation
APH · 1,254 observations
Lowest
-0.861
Fiserv, Inc. Common Stock
FISV · 644 observations
Saved 3 hours ago · ID: stock-goog-vs-stock-nee-daily-20260408-2orwgc