Netflix Correlations

NFLX Etf

USD 929.98 20.04 2.11%

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

Very weak diversification

The correlation between Netflix and DJI is 0.42 (i.e., Very weak 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 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

0.62	IQ	iQIYI Inc Aggressive Push	Pair Corr
0.65	SE	Sea Downward Rally	Pair Corr
0.66	TV	Grupo Televisa SAB	Pair Corr
0.81	BATRA	Atlanta Braves Holdings,	Pair Corr
0.69	BATRK	Atlanta Braves Holdings,	Pair Corr
0.64	FOXA	Fox Corp Class Sell-off Trend	Pair Corr
0.67	FOX	Fox Corp Class	Pair Corr
0.82	LYV	Live Nation Entertainment	Pair Corr
0.87	NWS	News Corp B	Pair Corr

Moving against Netflix Etf

0.4	ADD	Color Star Technology	Pair Corr
0.38	ANGHW	Anghami Warrants	Pair Corr
0.36	WLYB	John Wiley Sons	Pair Corr
0.34	WIMI	WiMi Hologram Cloud	Pair Corr
0.33	AMC	AMC Entertainment	Pair Corr
0.59	HAO	Haoxi Health Technology	Pair Corr
0.43	SSP	E W Scripps Buyout Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.2	0.68	-0.48	0.47	0.32	0.11	0.89	-0.78	0.18	META
MSFT	-0.2		-0.65	0.38	-0.76	0.64	0.88	-0.04	0.52	-0.25	MSFT
UBER	0.68	-0.65		-0.49	0.8	-0.23	-0.56	0.6	-0.86	0.45	UBER
F	-0.48	0.38	-0.49		-0.24	0.18	0.23	-0.38	0.64	0.24	F
T	0.47	-0.76	0.8	-0.24		-0.53	-0.67	0.28	-0.69	0.44	T
A	0.32	0.64	-0.23	0.18	-0.53		0.74	0.56	0.14	-0.04	A
CRM	0.11	0.88	-0.56	0.23	-0.67	0.74		0.2	0.33	-0.3	CRM
JPM	0.89	-0.04	0.6	-0.38	0.28	0.56	0.2		-0.66	0.19	JPM
MRK	-0.78	0.52	-0.86	0.64	-0.69	0.14	0.33	-0.66		-0.27	MRK
XOM	0.18	-0.25	0.45	0.24	0.44	-0.04	-0.3	0.19	-0.27		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

JPM	+ 0.89	META
CRM	+ 0.88	MSFT
T	+ 0.8	UBER
CRM	+ 0.74	A
UBER	+ 0.68	META
A	+ 0.64	MSFT

High negative correlations

MRK	- 0.86	UBER
MRK	- 0.78	META
T	- 0.76	MSFT
MRK	- 0.69	T
CRM	- 0.67	T
MRK	- 0.66	JPM

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	1.57	0.08	0.00	(0.01)	0.00	0.00	2.57	(3.59)	8.90
MSFT	1.10	(0.14)	0.00	(0.31)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.93	0.23	0.10	0.33	2.40	(2.00)	4.72	(3.30)	12.75
F	1.44	0.06	0.00	(0.04)	0.00	0.00	2.71	(2.89)	10.14
T	1.04	0.28	0.18	0.42	1.60	(1.11)	1.90	(1.75)	11.66
A	1.14	(0.15)	0.00	(0.25)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.42	(0.23)	0.00	(0.30)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.09	0.05	0.00	(0.05)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.21	(0.11)	0.00	2.40	0.00	0.00	2.07	(2.25)	11.58
XOM	1.05	0.06	0.08	0.06	1.38	(1.09)	2.55	(2.36)	5.89

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC