ETJ vs NFLX: Correlation
Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) and Netflix (NFLX) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETJ and NFLX?
Over the past 3 years, ETJ and NFLX moved with a correlation of 0.43, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.30 versus 0.43 over 3 years. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 196.7 %².
By 3-year correlation, NFLX places #9 of the 15 assets tracked against ETJ. The last year tells two different stories: ETJ led by 38.1 percentage points, +3.4% for ETJ against -34.7% for NFLX. One caveat on sizing: NFLX is 2.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ETJ vs NFLX: side by side
| ETJ (Eaton Vance Risk-Managed Diversified Equity Income Fund) | NFLX (Netflix) | |
|---|---|---|
| 1-year return | +3.4% | -34.7% |
| 5-year return | +19.5% | +41.0% |
| Volatility (ann.) | 13.0% | 35.2% |
| Beta vs S&P 500 | 0.71 | 0.99 |
| Max drawdown (3Y) | -15.4% | -49.5% |
| Market cap | $0.6B | $332.4B |
| P/E (trailing) | 11.4 | 25.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | ETJ | NFLX |
|---|---|---|
| 2022 | -22.7% | -51.1% |
| 2023 | +14.2% | +65.1% |
| 2024 | +29.5% | +83.1% |
| 2025 | +3.5% | +5.2% |
| 2026 | +2.1% | -14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETJ and NFLX good diversifiers for each other?
Reasonably. At 0.43, ETJ and NFLX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ETJ and NFLX?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.30 over the last year and 0.48 over 5 years.
Is NFLX a good diversifier for ETJ?
Reasonably. At 0.43, ETJ and NFLX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/etj-vs-nflx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/etj-vs-nflx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ETJ correlations · NFLX correlations
