Netflix Correlations

NFLX34 Stock

BRL 106.50 0.68 0.64%

The current 90-days correlation between Netflix and The Walt Disney is 0.21 (i.e., Modest 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.

Netflix Correlation With Market

Good diversification

The correlation between Netflix and DJI is -0.11 (i.e., Good 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.

The ability to find closely correlated positions to Netflix could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Netflix when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Netflix - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Netflix to buy it.

Moving together with Netflix Stock

0.97	DISB34	Walt Disney	Pair Corr
0.95	N1OW34	ServiceNow	Pair Corr
0.61	F1NI34	Fidelity National	Pair Corr
0.86	E1OG34	EOG Resources	Pair Corr

Moving against Netflix Stock

0.82	IFCM3	Infracommerce CXaaS	Pair Corr
0.68	SEQL3	Sequoia Logstica e	Pair Corr
0.65	HBTS5	Companhia Habitasul	Pair Corr
0.48	STBP3	Santos Brasil Participaes	Pair Corr
0.35	LWSA3	Locaweb Servios de	Pair Corr

Related Correlations Analysis

	DISB34	NFLX34	ENGI11	BTLG11	PLPL3	HBTS5	PGCO34	E1RI34	C1AB34	ATMP3
DISB34		0.97	-0.77	-0.65	0.27	-0.62	0.72	0.63	0.89	-0.51	DISB34
NFLX34	0.97		-0.81	-0.68	0.32	-0.65	0.66	0.71	0.91	-0.6	NFLX34
ENGI11	-0.77	-0.81		0.88	-0.53	0.86	-0.28	-0.77	-0.64	0.33	ENGI11
BTLG11	-0.65	-0.68	0.88		-0.68	0.81	-0.26	-0.81	-0.42	0.21	BTLG11
PLPL3	0.27	0.32	-0.53	-0.68		-0.75	0.04	0.71	0.07	-0.18	PLPL3
HBTS5	-0.62	-0.65	0.86	0.81	-0.75		-0.21	-0.76	-0.43	0.24	HBTS5
PGCO34	0.72	0.66	-0.28	-0.26	0.04	-0.21		0.38	0.64	-0.54	PGCO34
E1RI34	0.63	0.71	-0.77	-0.81	0.71	-0.76	0.38		0.52	-0.54	E1RI34
C1AB34	0.89	0.91	-0.64	-0.42	0.07	-0.43	0.64	0.52		-0.63	C1AB34
ATMP3	-0.51	-0.6	0.33	0.21	-0.18	0.24	-0.54	-0.54	-0.63		ATMP3
	DISB34	NFLX34	ENGI11	BTLG11	PLPL3	HBTS5	PGCO34	E1RI34	C1AB34	ATMP3

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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

NFLX34	+ 0.97	DISB34
C1AB34	+ 0.91	NFLX34
C1AB34	+ 0.89	DISB34
BTLG11	+ 0.88	ENGI11
HBTS5	+ 0.86	ENGI11
HBTS5	+ 0.81	BTLG11

High negative correlations

E1RI34	- 0.81	BTLG11
ENGI11	- 0.81	NFLX34
E1RI34	- 0.77	ENGI11
ENGI11	- 0.77	DISB34
E1RI34	- 0.76	HBTS5
HBTS5	- 0.75	PLPL3

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
DISB34	1.25	0.55	0.29	(2.70)	0.81	(1.44)	3.64	(1.74)	6.90
NFLX34	1.34	0.55	0.21	(1.86)	1.44	(1.50)	3.39	(2.90)	11.82
ENGI11	1.03	(0.27)	0.00	(51.97)	0.00	0.00	2.44	(2.57)	6.68
BTLG11	0.53	(0.11)	0.00	2.17	0.00	0.00	0.98	(1.29)	4.73
PLPL3	1.81	0.01	(0.05)	0.03	2.46	(1.87)	3.33	(3.81)	13.45
HBTS5	1.84	0.00	0.00	0.00	0.00	0.00	5.18	(6.25)	20.67
PGCO34	1.08	0.17	0.05	1.26	1.01	(1.24)	2.19	(1.84)	7.52
E1RI34	1.26	0.29	0.09	(1.23)	0.86	(2.33)	3.62	(2.09)	16.05
C1AB34	1.34	0.26	0.09	0.43	1.68	(1.59)	4.00	(2.61)	13.73
ATMP3	2.05	(0.16)	0.00	(0.11)	0.00	0.00	4.86	(4.41)	21.44

Be your own money manager

Our tools can tell you how much better you can do entering a position in Netflix without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Netflix Corporate Management

Elected by the shareholders, the Netflix's board of directors comprises two types of representatives: Netflix inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Netflix. The board's role is to monitor Netflix's management team and ensure that shareholders' interests are well served. Netflix's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Netflix's outside directors are responsible for providing unbiased perspectives on the board's policies.

Theodore Sarandos	Chief Content Officer	Profile
Wilmot Hastings	Chairman, CoFounder	Profile
Bela Bajaria	Head TV	Profile
Gregory Peters	Chief Product Officer	Profile
William Holmes	Global Devel	Profile
Marian Lee	Chief Officer	Profile

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