Correlation Analysis
Microsoft Corp vs Fox Corporation Class B Common Stock
MSFT vs FOX
+0.663
Strong positive
When one moves up, the other tends to follow.
Microsoft Corp
↗MSFT
Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite. The company is organized into three equally sized broad segments: productivity and business processes (legacy Microsoft Office, cloud-based Office 365, Exchange, SharePoint, Skype, LinkedIn, Dynamics), intelligence cloud (infrastructure- and platform-as-a-service offerings Azure, Windows Server OS, SQL Server), and more personal computing (Windows Client, Xbox, Bing search, display advertising, and Surface laptops, tablets, and desktops).
Market cap 2.8T
Fox Corporation Class B Common Stock
↗FOX
Fox operates in two segments: cable networks and television. Cable networks primarily includes Fox News, Fox Business, and several pay TV sports stations. Television primarily includes the Fox broadcast network, 29 owned and operated local television stations, of which 18 are affiliated with the Fox network, and streaming platform Tubi, which is not subscription-based and is completely ad-supported. Fox effectively sold most of its entertainment assets to Disney in 2019, so it no longer creates entertainment content and relies heavily on live news and sports, with nearly all tied to the pay TV bundle. The Murdoch family controls Fox.
Market cap 22.8B · 10,400 employees
Time Series
Relative Performance
Who Moves First
MSFT leads FOX by 6 days
MSFT tends to move before FOX.
After testing 13 timing shifts, the strongest relationship was +0.683 (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
+0.231
12 periods · Return correlation when both series rose
Both Falling
+0.961
7 periods · Return correlation when both series fell
Diverging
-0.712
16 periods · Return correlation when series moved apart
R-Squared
44.0%
Share of variance in one series explained by the other.
Trend Agreement
57.6%
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: [0.631, 0.693]
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
Microsoft Corp
MSFT
Market cap 2.8T
Stock · 1,254 raw → 1,254 prepared
Series B
Fox Corporation Class B Common Stock
FOX
Market cap 22.8B · 10,400 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
10
Estimated crossover points between normalized spreads.
Slope
0.0791
Linear regression slope.
Intercept
9.7586
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
MSFT
Microsoft Corp
Highest
+0.938
Cadence Design Systems
CDNS · 1,254 data points
Lowest
-0.867
Bristol-Myers Squibb Co.
BMY · 1,254 data points
FOX
Fox Corporation Class B Common Stock
Highest
+0.898
JPMorgan Chase & Co.
JPM · 1,254 data points
Lowest
+0.338
Exxon Mobil Corporation
XOM · 1,254 data points
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