Correlation Analysis
Microsoft Corp vs Warner Bros. Discovery, Inc. Series A Common Stock
MSFT vs WBD
+0.077
Weak 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
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
Time Series
Relative Performance
Who Moves First
MSFT leads WBD by 6 days
MSFT tends to move before WBD.
After testing 13 timing shifts, the strongest relationship was +0.122 (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
+0.058
9 periods · Return correlation when both series rose
Both Falling
+0.050
9 periods · Return correlation when both series fell
Diverging
-0.504
17 periods · Return correlation when series moved apart
R-Squared
0.6%
Share of variance in one series explained by the other.
Trend Agreement
58.2%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,000
Deep shared window — 1,000 usable pairs.
Significance
p < 0.05
95% CI: [0.016, 0.139]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,000 paired data points survived the daily window.
Raw input
1,254
1,000
Normalized
1,254
1,000
Prepared
1,254
1,000
Aligned
1,000
1,000
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
254
A: 254 / B: 0
Series A
Microsoft Corp
MSFT
Market cap 2.8T
Stock · 1,254 raw → 1,254 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
20
Estimated crossover points between normalized spreads.
Slope
0.0051
Linear regression slope.
Intercept
11.3994
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
WBD
Warner Bros. Discovery, Inc. Series A Common Stock
Highest
+0.880
Johnson & Johnson
JNJ · 1,000 data points
Lowest
+0.109
Costco Wholesale Corp
COST · 1,000 data points
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