Netflix Correlations

NFLX Etf

USD 82.20 1.33 1.64%

The current 90-days correlation between Netflix and Walt Disney is 0.05 (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

Pay attention - limited upside

The correlation between Netflix and DJI is -0.84 (i.e., Pay attention - limited upside) 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 metropolitan statistical area.

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

Moving together with Netflix Etf

0.82	DRCT	Direct Digital Holdings	Pair Corr
0.69	WA7	Seven West Media Earnings Call Tomorrow	Pair Corr
0.72	WIMI	WiMi Hologram Cloud	Pair Corr
0.66	ADV	Advantage Solutions	Pair Corr
0.9	AMC	AMC Entertainment Aggressive Push	Pair Corr
0.87	RDI	Reading International	Pair Corr
0.78	TME	Tencent Music Entert	Pair Corr
0.72	8MN	LINMON MEDIA LTD	Pair Corr
0.66	GDEV	GDEV Inc	Pair Corr
0.72	UMG	Universal Music Group	Pair Corr
0.81	GMGI	Golden Matrix Group	Pair Corr
0.69	ESE	ESE Entertainment	Pair Corr
0.8	AIM	Ai Media Technologies	Pair Corr

Moving against Netflix Etf

0.85	GMGT	Gaming Technologies	Pair Corr
0.75	SCG	Sporting Clube de	Pair Corr
0.74	TKO	TKO Group Holdings	Pair Corr
0.55	LYV	Live Nation Entertainment	Pair Corr
0.5	BATRA	Atlanta Braves Holdings	Pair Corr
0.44	SEATW	Vivid Seats Warrant	Pair Corr
0.35	BATRK	Atlanta Braves Holdings Potential Growth	Pair Corr
0.34	DIS	Walt Disney	Pair Corr
0.8	9DB	Dave Busters Enterta	Pair Corr
0.62	NEB	VIAPLAY GROUP AB	Pair Corr
0.57	PODC	Courtside Group Common Earnings Call This Week	Pair Corr
0.51	MSGM	Motorsport Gaming	Pair Corr
0.33	M0W	SPORT LISBOA E	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.45	-0.5	0.47	0.14	-0.57	-0.04	0.32	0.49	0.47	META
MSFT	-0.45		0.73	-0.53	-0.42	0.59	0.71	0.01	-0.8	-0.87	MSFT
UBER	-0.5	0.73		-0.48	-0.15	0.66	0.32	-0.16	-0.8	-0.63	UBER
F	0.47	-0.53	-0.48		-0.17	-0.35	-0.13	0.38	0.7	0.63	F
T	0.14	-0.42	-0.15	-0.17		-0.05	-0.6	-0.11	0.14	0.28	T
A	-0.57	0.59	0.66	-0.35	-0.05		0.26	-0.08	-0.49	-0.68	A
CRM	-0.04	0.71	0.32	-0.13	-0.6	0.26		0.5	-0.38	-0.7	CRM
JPM	0.32	0.01	-0.16	0.38	-0.11	-0.08	0.5		0.25	-0.07	JPM
MRK	0.49	-0.8	-0.8	0.7	0.14	-0.49	-0.38	0.25		0.76	MRK
XOM	0.47	-0.87	-0.63	0.63	0.28	-0.68	-0.7	-0.07	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

XOM	+ 0.76	MRK
UBER	+ 0.73	MSFT
CRM	+ 0.71	MSFT
MRK	+ 0.7	F
A	+ 0.66	UBER
XOM	+ 0.63	F

High negative correlations

XOM	- 0.87	MSFT
MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.7	CRM
XOM	- 0.68	A
XOM	- 0.63	UBER

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	1.51	0.02	(0.01)	0.11	1.55	(1.74)	3.43	(2.67)	13.69
MSFT	1.32	(0.41)	0.00	(0.89)	0.00	0.00	1.85	(2.74)	13.28
UBER	1.55	(0.47)	0.00	(0.70)	0.00	0.00	2.41	(5.06)	11.09
F	1.22	0.03	0.02	0.11	1.20	(1.45)	3.38	(2.35)	7.16
T	0.94	0.16	0.09	1.52	0.83	(1.06)	2.02	(1.54)	4.32
A	1.21	(0.26)	0.00	(0.14)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.71	(0.54)	0.00	(0.39)	0.00	0.00	2.94	(5.31)	12.37
JPM	1.20	(0.04)	0.00	0.05	1.67	(1.24)	2.34	(3.11)	7.38
MRK	1.26	0.56	0.43	0.97	0.69	(1.62)	3.59	(1.93)	8.09
XOM	1.17	0.41	0.26	3.45	0.94	(1.39)	2.69	(2.11)	5.85

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