Correlation Analysis
Meta Platforms, Inc. Class A Common Stock vs Coherent Corp.
META vs COHR
-0.198
Weak inverse
When one moves up, the other tends to move down.
Meta Platforms, Inc. Class A Common Stock
↗META
Meta is the largest social media company in the world, boasting close to 4 billion monthly active users worldwide. The firm's "Family of Apps," its core business, consists of Facebook, Instagram, Messenger, and WhatsApp. End users can leverage these applications for a variety of different purposes, from keeping in touch with friends to following celebrities and running digital businesses for free. Meta packages customer data, gleaned from its application ecosystem and sells ads to digital advertisers. While the firm has been investing heavily in its Reality Labs business, it remains a very small part of Meta's overall sales.
Market cap 1.4T
Coherent Corp.
↗COHR
Coherent Corp is a vertically integrated manufacturing company that develops, manufactures, and markets lasers, transceivers, and other optical and optoelectronic devices, modules, and systems, as well as engineered materials, for use in the communications, industrial, instrumentation, and electronics markets. Its reporting segments are Datacenter Communications and Industrial. Its geographic areas are North America, Europe, China, Japan, and the rest of the world.
Market cap 47.5B · 30,000 employees
Time Series
Relative Performance
Who Moves First
COHR leads META by 6 days
COHR tends to move before META.
After testing 13 timing shifts, the strongest relationship was -0.214 (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
+0.100
16 periods · Return correlation when both series rose
Both Falling
-0.211
6 periods · Return correlation when both series fell
Diverging
-0.472
13 periods · Return correlation when series moved apart
R-Squared
3.9%
Share of variance in one series explained by the other.
Trend Agreement
64.6%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,060
Deep shared window — 1,060 usable pairs.
Significance
p < 0.001
95% CI: [-0.255, -0.139]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,060 paired data points survived the daily window.
Raw input
1,107
1,207
Normalized
1,107
1,207
Prepared
1,107
1,207
Aligned
1,060
1,060
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
194
A: 47 / B: 147
Series A
Meta Platforms, Inc. Class A Common Stock
META
Market cap 1.4T
Stock · 1,107 raw → 1,107 prepared
Series B
Coherent Corp.
COHR
Market cap 47.5B · 30,000 employees
Stock · 1,207 raw → 1,207 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
11
Estimated crossover points between normalized spreads.
Slope
-0.0663
Linear regression slope.
Intercept
132.6526
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
META
Meta Platforms, Inc. Class A Common Stock
Highest
+0.979
PCEC96
PCEC96 · 52 data points
Lowest
-0.939
United Parcel Service, Inc. Class B
UPS · 1,107 data points
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