Netflix Correlations

NFLX Etf

USD 1,181 3.98 0.34%

The current 90-days correlation between Netflix and Walt Disney is -0.07 (i.e., Good 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 0.2 (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.

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 bureau of economic analysis.

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

Moving together with Netflix Etf

0.71	SE	Sea	Pair Corr
0.74	TC	TuanChe ADR	Pair Corr
0.79	TV	Grupo Televisa SAB	Pair Corr
0.71	BATRA	Atlanta Braves Holdings,	Pair Corr
0.78	BATRK	Atlanta Braves Holdings, Earnings Call Next Week	Pair Corr
0.78	CCO	Clear Channel Outdoor	Pair Corr
0.63	CHR	Cheer Holding Earnings Call This Week	Pair Corr
0.82	FOXA	Fox Corp Class	Pair Corr
0.88	DIS	Walt Disney	Pair Corr
0.85	EEX	Emerald Expositions	Pair Corr
0.74	EVC	Entravision Communications Earnings Call This Week	Pair Corr
0.81	FOX	Fox Corp Class	Pair Corr
0.66	GTN	Gray Television	Pair Corr
0.82	IAS	Integral Ad Science	Pair Corr
0.81	LYV	Live Nation Entertainment	Pair Corr

Moving against Netflix Etf

0.75	WIMI	WiMi Hologram Cloud	Pair Corr
0.69	BOC	Boston Omaha Corp	Pair Corr
0.53	FLNT	Fluent Inc	Pair Corr
0.47	ANGHW	Anghami Warrants	Pair Corr
0.34	DRCT	Direct Digital Holdings Earnings Call This Week	Pair Corr
0.83	LEE	Lee Enterprises Earnings Call This Week	Pair Corr
0.76	DUO	Fangdd Network Group	Pair Corr
0.73	XHLD	TEN Holdings, Common	Pair Corr
0.63	HHS	Harte Hanks	Pair Corr
0.57	PSO	Pearson PLC ADR Earnings Call Next Week	Pair Corr
0.35	OMC	Omnicom Group	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.97	0.82	0.79	0.56	0.92	0.17	0.93	0.21	0.51	META
MSFT	0.97		0.84	0.83	0.51	0.86	0.17	0.95	0.23	0.5	MSFT
UBER	0.82	0.84		0.88	0.41	0.78	0.46	0.85	0.18	0.44	UBER
F	0.79	0.83	0.88		0.42	0.8	0.16	0.89	0.43	0.68	F
T	0.56	0.51	0.41	0.42		0.63	0.11	0.46	0.35	0.27	T
A	0.92	0.86	0.78	0.8	0.63		0.15	0.86	0.36	0.63	A
CRM	0.17	0.17	0.46	0.16	0.11	0.15		0.09	-0.33	-0.21	CRM
JPM	0.93	0.95	0.85	0.89	0.46	0.86	0.09		0.32	0.59	JPM
MRK	0.21	0.23	0.18	0.43	0.35	0.36	-0.33	0.32		0.54	MRK
XOM	0.51	0.5	0.44	0.68	0.27	0.63	-0.21	0.59	0.54		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

MSFT	+ 0.97	META
JPM	+ 0.95	MSFT
JPM	+ 0.93	META
A	+ 0.92	META
JPM	+ 0.89	F
F	+ 0.88	UBER

High negative correlations

MRK	- 0.33	CRM
XOM	- 0.21	CRM

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	1.47	0.27	0.25	0.41	0.82	(1.79)	3.99	(2.00)	10.48
MSFT	0.84	0.33	0.36	0.63	0.00	(1.04)	2.33	(1.03)	8.85
UBER	1.60	0.05	0.05	0.25	1.44	(1.99)	4.19	(2.54)	10.87
F	1.29	0.10	0.04	0.33	1.40	(1.40)	2.69	(2.33)	7.46
T	1.00	(0.02)	(0.12)	0.14	1.30	(1.05)	2.35	(2.35)	5.71
A	1.53	(0.10)	0.02	0.14	1.77	(1.61)	2.82	(2.89)	14.01
CRM	1.30	(0.17)	(0.04)	0.09	1.64	(1.29)	2.95	(3.19)	9.31
JPM	0.88	0.19	0.16	0.40	0.54	(1.01)	2.25	(1.31)	6.03
MRK	1.40	(0.08)	(0.04)	0.13	1.82	(1.38)	2.90	(3.31)	10.58
XOM	1.10	(0.01)	(0.10)	0.16	1.39	(1.07)	2.18	(2.58)	6.28

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