Correlation Analysis
NetFlix Inc vs Nextpower Inc. Class A Common Stock
NFLX vs NXT
+0.519
Moderate positive
When one moves up, the other tends to follow.
NetFlix Inc
↗NFLX
Netflix's relatively simple business model involves only one business, its streaming service. It has the biggest television entertainment subscriber base in both the United States and the collective international market, with more than 300 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided a regular slate of live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm introduced ad-supported subscription plans in 2022, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.
Market cap 417.7B
Nextpower Inc. Class A Common Stock
↗NXT
Nextpower (and its subsidiaries) is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Nextpower's products enable solar panels in utility-scale power plants to follow the sun's movement across the sky and optimize plant performance. Nextpower has operations in the United States, Mexico, Spain and other countries in Europe, India, Australia, the Middle East, Africa, and Brazil.
Market cap 16B · 1,300 employees
Time Series
Relative Performance
Who Moves First
NFLX leads NXT by 6 days
NFLX tends to move before NXT.
After testing 13 timing shifts, the strongest relationship was +0.533 (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
+0.641
14 periods · Return correlation when both series rose
Both Falling
+0.365
5 periods · Return correlation when both series fell
Diverging
-0.818
16 periods · Return correlation when series moved apart
R-Squared
26.9%
Share of variance in one series explained by the other.
Trend Agreement
53.1%
How often both series moved in the same direction period-to-period.
Overlap Quality
791
Deep shared window — 791 usable pairs.
Significance
p < 0.001
95% CI: [0.466, 0.568]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
791 paired data points survived the daily window.
Raw input
1,254
791
Normalized
1,254
791
Prepared
1,254
791
Aligned
791
791
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
463
A: 463 / B: 0
Series A
NetFlix Inc
NFLX
Market cap 417.7B
Stock · 1,254 raw → 1,254 prepared
Series B
Nextpower Inc. Class A Common Stock
NXT
Market cap 16B · 1,300 employees
Stock · 791 raw → 791 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
12
Estimated crossover points between normalized spreads.
Slope
0.4085
Linear regression slope.
Intercept
23.5624
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
NFLX
NetFlix Inc
Highest
+0.928
Royal Caribbean Group
RCL · 1,254 data points
Lowest
-0.813
United Parcel Service, Inc. Class B
UPS · 1,254 data points
NXT
Nextpower Inc. Class A Common Stock
Highest
+0.932
Micron Technology, Inc.
MU · 791 data points
Lowest
+0.504
Costco Wholesale Corp
COST · 791 data points
Saved 5 hours ago · ID: stock-nflx-vs-stock-nxt-daily