A system optimizes two or more stream processing programs based upon the data exchanged between the stream processing programs. The system alternately processes each stream processing program to identify and remove dead program code, thereby improving execution performance. Dead program code is identified by propagating constants received as inputs from other stream processing programs and by analyzing a first stream processing program and determining the outputs of a second stream processing program that are unused by the first stream processing program. The system may perform multiple iterations of this optimization is previous iterations introduce additional constants used as inputs to a stream processing program. Following optimization of the stream processing programs, the optimized stream processing programs are compiled to a format adapted to be executed by a stream processing system.