Netflix Correlations

NFLX Etf

USD 90.99 2.77 2.95%

The current 90-days correlation between Netflix and Walt Disney is 0.17 (i.e., Average diversification). The correlation of Netflix is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Netflix Correlation With Market

Average diversification

The correlation between Netflix and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Netflix and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Netflix Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Netflix. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Netflix Etf please use our How to Invest in Netflix guide.

Moving together with Netflix Etf

0.86	600715	Cultural Investment	Pair Corr
0.8	603721	TVZone Media	Pair Corr
0.76	GAME	GameSquare Holdings	Pair Corr
0.8	TME	Tencent Music Entert	Pair Corr
0.69	WMG	Warner Music Group	Pair Corr
0.65	RSVRW	Reservoir Media Mana	Pair Corr
0.65	OMIP	One Media iP	Pair Corr
0.71	MATH	Metalpha Technology	Pair Corr
0.74	MYPS	Playstudios	Pair Corr
0.89	EMAN	Everyman Media Group	Pair Corr
0.77	IBTA	Ibotta	Pair Corr
0.75	WIA	Western AssetClaymore	Pair Corr

Moving against Netflix Etf

0.7	TKO	TKO Group Holdings	Pair Corr
0.69	PLTK	Playtika Holding Corp	Pair Corr
0.61	ROKU	Roku Inc	Pair Corr
0.36	AEO	Aeorema Communications	Pair Corr
0.91	SPHR	Sphere Entertainment	Pair Corr
0.9	JOYY	JOYY Inc Symbol Change	Pair Corr
0.89	CPSL	Calamos Laddered	Pair Corr
0.88	CALI	iShares Short Term	Pair Corr
0.85	JUNP	PGIM Large Cap	Pair Corr
0.83	PJFM	PGIM ETF Trust	Pair Corr
0.81	AGQ	ProShares Ultra Silver	Pair Corr
0.77	CEF	Sprott Physical Gold	Pair Corr
0.74	DLN	WisdomTree LargeCap	Pair Corr
0.74	DDFO	Innovator Equity Dual	Pair Corr
0.66	VPL	Vanguard FTSE Pacific	Pair Corr
0.63	VTI	Vanguard Total Stock	Pair Corr
0.57	MYCL	SPDR SSGA My2032	Pair Corr
0.39	DFCF	Dimensional ETF Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.67	0.45	-0.54	0.38	-0.39	0.24	-0.23	-0.42	-0.58	META
MSFT	0.67		0.85	-0.54	0.42	-0.07	-0.02	-0.42	-0.81	-0.64	MSFT
UBER	0.45	0.85		-0.58	0.52	0.09	-0.25	-0.47	-0.85	-0.67	UBER
F	-0.54	-0.54	-0.58		-0.64	0.28	0.34	0.54	0.63	0.77	F
T	0.38	0.42	0.52	-0.64		0.03	-0.63	-0.47	-0.38	-0.58	T
A	-0.39	-0.07	0.09	0.28	0.03		-0.42	-0.34	0.02	0.04	A
CRM	0.24	-0.02	-0.25	0.34	-0.63	-0.42		0.49	0.2	0.3	CRM
JPM	-0.23	-0.42	-0.47	0.54	-0.47	-0.34	0.49		0.57	0.56	JPM
MRK	-0.42	-0.81	-0.85	0.63	-0.38	0.02	0.2	0.57		0.76	MRK
XOM	-0.58	-0.64	-0.67	0.77	-0.58	0.04	0.3	0.56	0.76		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

UBER	+ 0.85	MSFT
XOM	+ 0.77	F
XOM	+ 0.76	MRK
MSFT	+ 0.67	META
MRK	+ 0.63	F
MRK	+ 0.57	JPM

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.81	MSFT
XOM	- 0.67	UBER
T	- 0.64	F
XOM	- 0.64	MSFT
CRM	- 0.63	T

Netflix Competition Risk-Adjusted Indicators

There is a big difference between Netflix Etf performing well and Netflix ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Netflix's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.39	(0.22)	0.00	(0.19)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.17)	0.00	(0.25)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.45	(0.30)	0.00	(0.23)	0.00	0.00	2.60	(3.82)	10.51
F	1.48	0.12	0.08	0.14	1.67	(1.63)	3.38	(2.63)	16.30
T	0.96	(0.21)	0.00	(0.86)	0.00	0.00	1.61	(2.18)	5.75
A	1.17	0.05	0.04	0.10	1.25	(1.28)	2.12	(2.21)	11.03
CRM	1.51	0.06	0.03	0.13	1.97	(1.51)	3.66	(2.92)	9.91
JPM	1.08	(0.02)	0.00	0.04	1.41	(1.11)	2.00	(1.91)	7.02
MRK	1.32	0.33	0.25	0.46	1.03	(1.70)	3.84	(1.98)	11.45
XOM	0.91	0.12	0.08	0.52	0.82	(1.01)	1.96	(1.41)	4.99

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