Correlation Analysis
NetFlix Inc vs Tradeweb Markets Inc. Class A Common Stock
NFLX vs TW
+0.880
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
Tradeweb Markets Inc. Class A Common Stock
↗TW
Founded in 1998 and headquartered in New York City, Tradeweb Markets is a leading fixed-income trading platform. While it does offer electronic processing for some voice-negotiated trades, the company focuses primarily on providing electronic trading networks that connect broker/dealers, institutional clients, and retail customers. While the company offers trading in a wide variety of products, the bulk of its business is in US and European government debt, mortgage-backed securities, interest-rate swaps, and US and international corporate bonds. The firm also sells fixed-income trading and price data, primarily through a deal with Refinitiv's Eikon service.
Market cap 26.3B · 1,569 employees
Time Series
Relative Performance
Who Moves First
TW leads NFLX by 6 days
TW tends to move before NFLX.
After testing 13 timing shifts, the strongest relationship was +0.884 (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
+0.297
15 periods · Return correlation when both series rose
Both Falling
+0.855
5 periods · Return correlation when both series fell
Diverging
-0.523
15 periods · Return correlation when series moved apart
R-Squared
77.4%
Share of variance in one series explained by the other.
Trend Agreement
60.0%
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: [0.867, 0.892]
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
Tradeweb Markets Inc. Class A Common Stock
TW
Market cap 26.3B · 1,569 employees
Stock · 1,254 raw → 1,254 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
34
Estimated crossover points between normalized spreads.
Slope
0.7002
Linear regression slope.
Intercept
53.4320
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
TW
Tradeweb Markets Inc. Class A Common Stock
Highest
+0.892
Costco Wholesale Corp
COST · 1,254 data points
Lowest
+0.001
Johnson & Johnson
JNJ · 1,254 data points
Saved 7 hours ago · ID: stock-nflx-vs-stock-tw-daily