Correlation Analysis
Meta Platforms, Inc. Class A Common Stock vs Warner Bros. Discovery, Inc. Series A Common Stock
META vs WBD
+0.204
Light positive
When one moves up, the other tends to follow.
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
Warner Bros. Discovery, Inc. Series A Common Stock
↗WBD
Warner Bros. Discovery operates in three segments: streaming, studios, and linear networks. The streaming business includes HBO Max, which is rapidly increasing its international footprint in addition to its major presence in the US. Studios include industry leaders in both film and television, which produce movies and television series that are monetized in multiple ways, including theatrical release, sales to third parties, and feeding into Warner's own platforms. Global networks consist of basic cable networks like CNN, TNT, TBS, Discovery, HGTV, and The Food Network. The Discovery+ streaming service will remain part of global networks.
Market cap 68.7B · 35,500 employees
Who Moves First
META leads WBD by 6 days
META tends to move before WBD.
Best correlation after shifting: +0.224 (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
-0.091
10 periods · Return correlation when both series rose
Both Falling
+0.830
9 periods · Return correlation when both series fell
Diverging
-0.738
16 periods · Return correlation when series moved apart
R-Squared
4.2%
Share of variance in one series explained by the other.
Trend Agreement
58.3%
How often both series moved in the same direction period-to-period.
Overlap Quality
959
Deep shared window — 959 usable pairs.
Significance
p < 0.001
95% CI: [0.142, 0.264]
Time Series
Rebased to 100
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
959 paired observations survived the daily window.
Raw input
1,107
1,000
Normalized
1,107
1,000
Prepared
1,107
1,000
Aligned
959
959
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
189
A: 148 / B: 41
Series A
Meta Platforms, Inc. Class A Common Stock
META
Market cap 1.4T
Stock · 1,107 raw → 1,107 prepared
Series B
Warner Bros. Discovery, Inc. Series A Common Stock
WBD
Market cap 68.7B · 35,500 employees
Stock · 1,000 raw → 1,000 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
3
Estimated crossover points between normalized spreads.
Slope
0.0056
Linear regression slope.
Intercept
10.6051
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
META
Meta Platforms, Inc. Class A Common Stock
Highest
+0.979
PCEC96
PCEC96 · 52 observations
Lowest
-0.939
United Parcel Service, Inc. Class B
UPS · 1,107 observations
WBD
Warner Bros. Discovery, Inc. Series A Common Stock
Highest
+0.880
Johnson & Johnson
JNJ · 1,000 observations
Lowest
+0.077
Microsoft Corp
MSFT · 1,000 observations
Saved 3 hours ago · ID: stock-meta-vs-stock-wbd-daily-20260408-mk2p8q