Netflix Correlations

NFLX Stock

USD 897.48 13.63 1.54%

The current 90-days correlation between Netflix and Paramount Global Class is 0.09 (i.e., Significant 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

Modest diversification

The correlation between Netflix and DJI is 0.28 (i.e., Modest 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.

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 company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Netflix Stock

0.91	DIS	Walt Disney Aggressive Push	Pair Corr
0.87	EVC	Entravision Communications	Pair Corr
0.7	WPP	WPP PLC ADR	Pair Corr
0.67	QNST	QuinStreet	Pair Corr
0.79	LBRDA	Liberty Broadband Srs	Pair Corr
0.8	LBRDK	Liberty Broadband Srs	Pair Corr
0.76	CABO	Cable One	Pair Corr
0.82	TZOO	Travelzoo	Pair Corr
0.69	T	ATT Inc Aggressive Push	Pair Corr
0.77	Z	Zillow Group Class	Pair Corr
0.81	EA	Electronic Arts	Pair Corr
0.76	ZG	Zillow Group	Pair Corr

Moving against Netflix Stock

0.84	IPG	Interpublic Group	Pair Corr
0.79	KUKE	Kuke Music Holding	Pair Corr
0.74	LILAK	Liberty Latin America	Pair Corr
0.66	CRTO	Criteo Sa	Pair Corr
0.58	MSGE	Madison Square Garden	Pair Corr
0.5	DRCT	Direct Digital Holdings	Pair Corr
0.49	MCHX	Marchex	Pair Corr
0.46	ADV	Advantage Solutions	Pair Corr
0.42	EEX	Emerald Expositions	Pair Corr
0.37	SPHR	Sphere Entertainment	Pair Corr
0.85	TC	TuanChe ADR	Pair Corr
0.67	DLPN	Dolphin Entertainment	Pair Corr
0.67	AMX	America Movil SAB	Pair Corr
0.66	EVER	EverQuote Class A	Pair Corr
0.65	TU	Telus Corp	Pair Corr
0.65	WWRL	World Wireless Commu	Pair Corr
0.59	ADD	Color Star Technology	Pair Corr
0.53	FENG	Phoenix New Media	Pair Corr

Related Correlations Analysis

	PARA	ROKU	WBD	AMC	DIS	APE	PARAA
PARA		-0.12	0.6	0.03	0.33	0.42	0.54	PARA
ROKU	-0.12		0.17	-0.59	0.25	0.31	-0.36	ROKU
WBD	0.6	0.17		-0.11	0.78	0.6	0.13	WBD
AMC	0.03	-0.59	-0.11		-0.44	-0.44	0.41	AMC
DIS	0.33	0.25	0.78	-0.44		0.74	-0.03	DIS
APE	0.42	0.31	0.6	-0.44	0.74		-0.17	APE
PARAA	0.54	-0.36	0.13	0.41	-0.03	-0.17		PARAA
	PARA	ROKU	WBD	AMC	DIS	APE	PARAA

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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

DIS	+ 0.78	WBD
APE	+ 0.74	DIS
WBD	+ 0.6	PARA
APE	+ 0.6	WBD
PARAA	+ 0.54	PARA
APE	+ 0.42	PARA

High negative correlations

AMC	- 0.59	ROKU
APE	- 0.44	AMC
DIS	- 0.44	AMC
PARAA	- 0.36	ROKU
PARAA	- 0.17	APE
ROKU	- 0.12	PARA

Risk-Adjusted Indicators

There is a big difference between Netflix Stock performing well and Netflix Company 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
PARA	1.40	(0.10)	0.00	(0.05)	0.00	0.00	2.63	(2.81)	8.83
ROKU	2.54	0.05	0.03	0.11	4.09	(2.56)	5.67	(4.28)	29.20
WBD	2.35	0.29	0.14	0.28	2.17	(2.83)	7.33	(3.45)	18.30
AMC	1.87	(0.26)	0.00	(0.13)	0.00	0.00	3.65	(3.94)	11.40
DIS	1.01	0.31	0.26	0.56	0.63	(1.15)	2.34	(1.38)	7.57
APE	2.05	0.24	0.08	0.51	2.33	(2.35)	4.67	(3.64)	11.21
PARAA	0.66	(0.06)	0.00	(0.40)	0.00	0.00	1.65	(1.06)	10.30

Netflix Corporate Management

Spencer Neumann	Chief Officer	Profile
Theodore Sarandos	Chief Content Officer	Profile
Wilmot Hastings	Chairman, CoFounder	Profile
Rachel Whetstone	Chief Communications Officer	Profile
David Hyman	General Counsel and Secretary	Profile
Jeffrey Karbowski	Chief Officer	Profile
Elizabeth Stone	Chief Officer	Profile

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