Correlation Analysis
NetFlix Inc vs Snap-on Incorporated
NFLX vs SNA
+0.795
Strong 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
Snap-on Incorporated
↗SNA
Snap-on is a manufacturer of premium tools, equipment, and diagnostics for professional technicians, primarily involved in the repair of passenger cars but having expanded into other industrial applications. The company's legacy business is selling hand tools through franchisee-operated mobile vans to technicians who purchase the tools at their own expense. The company also operates a commercial and industrial business that is focused on repair facilities serving other industries. The third segment, repair systems and information, targets auto OEMs and large dealerships more directly and also offers substantial diagnostic solutions to aid repairs. The company's finance arm provides financing to franchisees to run their operations, as well as underwriting end customer purchases.
Market cap 19.1B · 13,000 employees
Time Series
Relative Performance
Who Moves First
SNA leads NFLX by 6 days
SNA tends to move before NFLX.
After testing 13 timing shifts, the strongest relationship was +0.800 (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
-0.213
13 periods · Return correlation when both series rose
Both Falling
N/A
4 periods · Return correlation when both series fell
Diverging
-0.649
18 periods · Return correlation when series moved apart
R-Squared
63.2%
Share of variance in one series explained by the other.
Trend Agreement
54.2%
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: [0.774, 0.815]
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
Snap-on Incorporated
SNA
Market cap 19.1B · 13,000 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
59
Estimated crossover points between normalized spreads.
Slope
1.3366
Linear regression slope.
Intercept
190.1818
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-nflx-vs-stock-sna-daily