Correlation Analysis
Mastercard Incorporated vs Zimmer Biomet Holdings, Inc.
MA vs ZBH
-0.603
Moderate inverse
When one moves up, the other tends to move down.
Mastercard Incorporated
↗MA
Mastercard is the second-largest payment processor in the world, having processed close to $11 trillion in volume during 2025. Mastercard operates in over 200 countries and processes transactions in over 150 currencies.
Market cap 447.2B
Zimmer Biomet Holdings, Inc.
↗ZBH
Zimmer Biomet designs, manufactures, and markets orthopedic reconstructive implants as well as supplies and surgical equipment for orthopedic surgery. With the acquisitions of Centerpulse in 2003 and Biomet in 2015, Zimmer holds the leading share of the reconstructive market in the United States, Europe, and Japan. Roughly two-thirds of total revenue is derived from sales of large joints; another fourth comes from extremities, trauma, sports medicine, and related surgical products. The firm spun out its dental and spine businesses in 2022.
Market cap 17.6B · 17,000 employees
Time Series
Relative Performance
Who Moves First
MA leads ZBH by 6 days
MA tends to move before ZBH.
After testing 13 timing shifts, the strongest relationship was -0.614 (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
+0.268
8 periods · Return correlation when both series rose
Both Falling
+0.544
9 periods · Return correlation when both series fell
Diverging
-0.711
18 periods · Return correlation when series moved apart
R-Squared
36.4%
Share of variance in one series explained by the other.
Trend Agreement
63.0%
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: [-0.637, -0.567]
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
Mastercard Incorporated
MA
Market cap 447.2B
Stock · 1,254 raw → 1,254 prepared
Series B
Zimmer Biomet Holdings, Inc.
ZBH
Market cap 17.6B · 17,000 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
1
Estimated crossover points between normalized spreads.
Slope
-0.1352
Linear regression slope.
Intercept
176.6759
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 6 hours ago · ID: stock-ma-vs-stock-zbh-daily