ETY vs NFLX: Correlation
Measured on weekly returns over the past three years, Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) and Netflix (NFLX) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETY and NFLX?
On 3 years of weekly data the ETY/NFLX correlation comes out at 0.45, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.25 versus 0.45 over 3 years. The 5-year figure is 0.49, and annualized covariance runs at 245.9 %².
By 3-year correlation, NFLX places #29 of the 34 assets tracked against ETY. The last year tells two different stories: ETY led by 34.3 percentage points, -0.4% for ETY against -34.7% for NFLX. Risk is not evenly split, since NFLX carries 2.3 times the volatility of the other side.
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.
ETY vs NFLX: side by side
| ETY (Eaton Vance Tax-Managed Diversified Equity Income Fund) | NFLX (Netflix) | |
|---|---|---|
| 1-year return | -0.4% | -34.7% |
| 5-year return | +51.2% | +41.0% |
| Volatility (ann.) | 15.4% | 35.2% |
| Beta vs S&P 500 | 0.97 | 0.99 |
| Max drawdown (3Y) | -21.3% | -49.5% |
| Market cap | – | $332.4B |
| P/E (trailing) | 5.2 | 25.7 |
| Dividend yield | 8.24% | 0.00% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | ETY | NFLX |
|---|---|---|
| 2022 | -21.2% | -51.1% |
| 2023 | +21.9% | +65.1% |
| 2024 | +33.1% | +83.1% |
| 2025 | +11.0% | +5.2% |
| 2026 | +0.2% | -14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETY and NFLX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ETY and NFLX?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.25 over the last year and 0.49 over 5 years.
Is NFLX a good diversifier for ETY?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ety-vs-nflx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ety-vs-nflx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ETY correlations · NFLX correlations
