Correlation Analysis
NetFlix Inc vs S&P Global Inc.
NFLX vs SPGI
+0.877
Very 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
S&P Global Inc.
↗SPGI
S&P Global provides data and benchmarks to capital and commodity market participants. Its ratings business is the largest credit rating agency in the world and S&P's largest segment by profitability. S&P's largest segment by revenue is market intelligence, which provides desktop, data and advisory solutions, enterprise solutions, and credit/risk solutions mostly in the financial-services industry. S&P's other segments include energy (formerly commodity insights, this segment includes Platts and other data), mobility (Carfax), and indexes. S&P plans to spin off mobility in 2026.
Market cap 128.5B · 44,500 employees
Time Series
Relative Performance
Who Moves First
NFLX leads SPGI by 2 days
NFLX tends to move before SPGI.
After testing 13 timing shifts, the strongest relationship was +0.878 (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
+0.437
17 periods · Return correlation when both series rose
Both Falling
+0.786
7 periods · Return correlation when both series fell
Diverging
-0.466
11 periods · Return correlation when series moved apart
R-Squared
77.0%
Share of variance in one series explained by the other.
Trend Agreement
60.5%
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: [0.864, 0.890]
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
S&P Global Inc.
SPGI
Market cap 128.5B · 44,500 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
56
Estimated crossover points between normalized spreads.
Slope
1.8805
Linear regression slope.
Intercept
314.0633
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
Saved 7 hours ago · ID: stock-nflx-vs-stock-spgi-daily