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Warner Bros. Discovery, Inc. Series A Common Stock (WBD) vs Biogen Inc. Common Stock (BIIB)
Correlation
of % moves
+26%
In sync
of periods
58%
History
daysdays · through 2026-05-22
1,032
These move in the same direction about 58% of the time
Their swing sizes only faintly line up (~7% of the pattern is shared).
A real but noisy link — useful as context, risky as a standalone signal.
Both lines start at the same point — easy to compare when growth rates are similar.
What to Watch
Tighter in drawdowns
The relationship is stronger when both prices are falling than when both are rising — typical risk-off behaviour.
Advanced
Statistics
In sync(i)
58.2%
Headline metric
Movement correlation(i)
+26%
Based on % moves
95% CI
+20% → +31%
Likely range of correlation
Pipeline
Pipeline Summary
1,032 paired data points survived the daily window.
Raw input
1,033
1,252
Normalized
1,033
1,252
Prepared
1,033
1,252
Aligned
1,032
1,032
Invalid removed
R²(i)
6.6%
Variance explained
Significance
p < 0.001
Statistical confidence
Data points
1,032
Deep
Time-Shifted Correlation
See how correlation changes when one series is offset in time. A taller bar at a non-zero shift means the two move together better when one leads the other — that's a potential lead/lag signal.
Correlation by shift
Click a bar to inspect. Range: -6 to 6 days.
Selected shift
No shift
Correlation at this shift
+26%
No shift — both series at their actual dates.
1,031 overlapping points at this shift
Baseline
+26%
No-shift correlation, matching the main time-series chart above.
Peak shift
No shift
+26%
A non-zero peak suggests one series lines up better when shifted against the other.
Stability
How the correlation evolves over time. A stable line means the relationship is reliable; large swings signal regime-dependent behavior.
Do They Crash Together?
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
-6%
58 periods · Return correlation when both series rose
Both Falling
+41%
64 periods · Return correlation when both series fell
Diverging
-44%
60 periods · Return correlation when series moved apart
Scatter
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
221
A: 1 / B: 220
Series A
Warner Bros. Discovery, Inc. Series A Common Stock (WBD)
WBD
Stock · 1,033 raw → 1,033 prepared
Series B
Biogen Inc. Common Stock (BIIB)
BIIB
Stock · 1,252 raw → 1,252 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
30
Estimated crossover points between normalized spreads.
Slope
0.1582
Linear regression slope.
Intercept
-0.0001
Linear regression intercept.
Saved 2 weeks ago · ID: stock-biib_stock-wbd_daily_5y