Netflix Correlations
| NFC Stock | EUR 837.50 1.90 0.23% |
The current 90-days correlation between Netflix and The Walt Disney is 0.06 (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.
Netflix Correlation With Market
Good diversification
The correlation between Netflix and DJI is -0.02 (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.
Netflix |
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 | WDP | Walt Disney | PairCorr |
| 0.96 | WDP | Walt Disney | PairCorr |
| 0.88 | CQD | Charter Communications | PairCorr |
| 0.87 | WA4 | Warner Music Group | PairCorr |
| 0.83 | 0VVB | ViacomCBS | PairCorr |
| 0.93 | 0VV | ViacomCBS | PairCorr |
| 0.95 | LIE | Sun Life Financial | PairCorr |
| 0.83 | 74G | DIVIDEND GROWTH SPLIT | PairCorr |
Moving against Netflix Stock
| 0.92 | ADC | AdCapital AG | PairCorr |
| 0.88 | VVU | Vivendi SE | PairCorr |
| 0.7 | 5TI | TINC Comm VA | PairCorr |
| 0.61 | EO0 | CANADIAN NORTH RESOURCES | PairCorr |
| 0.36 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.33 | VP3 | VIETNAM ENTERPRISE INV | PairCorr |
Related Correlations Analysis
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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.
| Spencer Neumann | CFO Officer | Profile | |
| Theodore Sarandos | Chief CoCEO | Profile | |
| Wilmot Hastings | Chairman, CoFounder | Profile | |
| Bela Bajaria | Head TV | Profile | |
| Gregory Peters | COO Officer | Profile | |
| William Holmes | Global Devel | Profile | |
| Marian Lee | Chief Officer | Profile |