Correlation Analysis
NetFlix Inc vs Ovintiv Inc.
NFLX vs OVV
-0.222
Light inverse
When one moves up, the other tends to move down.
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
Ovintiv Inc.
↗OVV
Ovintiv Inc is a North American oil and natural gas exploration and production company focused on developing its multi-basin portfolio of high-quality assets located in the United States and Canada. Its operations also include the marketing of oil, NGLs, and natural gas. The company has two operating segments: USA Operations and Canadian Operations. USA Operations include the exploration, development, production, and marketing of oil, NGLs, natural gas, and other related activities within the United States. Canadian Operations include the exploration, development, production, and marketing of oil, NGLs, natural gas, and other related activities within Canada. The company generates the majority of its revenue from USA Operations.
Market cap 16.8B · 1,465 employees
Time Series
Relative Performance
Who Moves First
OVV leads NFLX by 6 days
OVV tends to move before NFLX.
After testing 13 timing shifts, the strongest relationship was -0.241 (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
+0.268
12 periods · Return correlation when both series rose
Both Falling
+0.525
5 periods · Return correlation when both series fell
Diverging
-0.696
18 periods · Return correlation when series moved apart
R-Squared
4.9%
Share of variance in one series explained by the other.
Trend Agreement
51.2%
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: [-0.274, -0.169]
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
NetFlix Inc
NFLX
Market cap 417.7B
Stock · 1,254 raw → 1,254 prepared
Series B
Ovintiv Inc.
OVV
Market cap 16.8B · 1,465 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
8
Estimated crossover points between normalized spreads.
Slope
-0.0565
Linear regression slope.
Intercept
45.7842
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 4 hours ago · ID: stock-nflx-vs-stock-ovv-daily