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Correlation Analysis

Microsoft Corp vs Moderna, Inc. Common Stock

MSFT vs MRNA

-0.639

Moderate inverse

When one moves up, the other tends to move down.

MSFT logo

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

MRNA logo

Moderna, Inc. Common Stock

MRNA

Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its covid vaccine, which was authorized in the United States in December 2020. Moderna had 35 mRNA development candidates in clinical studies as of August 2025. Programs span a wide range of therapeutic areas, including infectious disease, oncology, cardiovascular disease, and rare genetic diseases.

Market cap 19.3B · 4,700 employees

Apr 9, 2021 — Apr 7, 2026Daily1,254 data pointsStockStockTechnology

Time Series

Relative Performance

Green: MSFTGray: MRNA36 of 1,254 points (sampled)

Who Moves First

MSFT leads MRNA by 6 days

MSFT tends to move before MRNA.

After testing 13 timing shifts, the strongest relationship was -0.648 (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

-0.296

10 periods · Return correlation when both series rose

Both Falling

+0.228

8 periods · Return correlation when both series fell

Diverging

-0.458

17 periods · Return correlation when series moved apart

R-Squared

40.8%

Share of variance in one series explained by the other.

Trend Agreement

60.8%

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: [-0.670, -0.605]

Scatter

XY Regression

208.6250300350400450500549.3-100100200300400483Microsoft CorpModerna, Inc. Common StockData pointsFit (r = -0.639)

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

MSFT logo

Microsoft Corp

MSFT

Market cap 2.8T

Stock · 1,254 raw → 1,254 prepared

Series B

MRNA logo

Moderna, Inc. Common Stock

MRNA

Market cap 19.3B · 4,700 employees

Stock · 1,254 raw → 1,254 prepared

Sign agreement

100.0%

How often both values share the same sign.

Zero crossings

3

Estimated crossover points between normalized spreads.

Slope

-0.6822

Linear regression slope.

Intercept

369.1014

Linear regression intercept.

Related Extremes

Highest and Lowest Correlated

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