While these two may seem identical, they perform a completely different function from each other. Stability control involves braking and cutting power off from the wheels to make sure the cars go in the direction it was steered to in the first place. The stability control function is an augmentation to the vehicle’s maneuvering system and is especially helpful when driving on snowy and wet roads.
Traction control, on the other hand, has to do with controlling the actual tires spinning speed and has little to do with controlling the vehicle’s direction. Traction control is only a part of a stability control system in a vehicle. A vehicle can have traction control without stability control but never vice versa.