Correlation Analysis
Hewlett Packard Enterprise Company vs NetFlix Inc
HPE vs NFLX
+0.740
Strong positive
When one moves up, the other tends to follow.
Hewlett Packard Enterprise Company
↗HPE
Hewlett Packard Enterprise is an information technology vendor that provides hardware and software to enterprises. Its primary product lines are compute servers, storage arrays, and networking equipment; it also has a high-performance computing business. HPE's stated goal is to be a complete edge-to-cloud company. Its portfolio enables hybrid clouds and hyperconverged infrastructure.
Market cap 32.6B · 67,000 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 HPE by 6 days
NFLX tends to move before HPE.
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
+0.466
17 periods · Return correlation when both series rose
Both Falling
+0.355
7 periods · Return correlation when both series fell
Diverging
-0.574
11 periods · Return correlation when series moved apart
R-Squared
54.8%
Share of variance in one series explained by the other.
Trend Agreement
58.1%
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: [0.714, 0.764]
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
Hewlett Packard Enterprise Company
HPE
Market cap 32.6B · 67,000 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
27
Estimated crossover points between normalized spreads.
Slope
7.1887
Linear regression slope.
Intercept
-63.9545
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
HPE
Hewlett Packard Enterprise Company
Highest
+0.862
JPMorgan Chase & Co.
JPM · 1,254 data points
Lowest
+0.365
Johnson & Johnson
JNJ · 1,254 data points
Saved 7 hours ago · ID: stock-hpe-vs-stock-nflx-daily