MTUM vs NFLX: Correlation
How closely do iShares MSCI USA Momentum Factor ETF (MTUM) and Netflix (NFLX) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTUM and NFLX?
Over the past 3 years, MTUM and NFLX moved with a correlation of 0.42, which is moderate. The past 12 months show a weaker link (0.02) than the 3-year average (0.42). Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 303.0 %².
By 3-year correlation, NFLX places #87 of the 109 assets tracked against MTUM. The last year tells two different stories: MTUM led by 59.9 percentage points, +25.2% for MTUM against -34.7% for NFLX. The relationship is regime-dependent: the rolling one-year correlation swung between -0.02 and 0.77 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since NFLX carries 1.7 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.
MTUM vs NFLX: side by side
| MTUM (iShares MSCI USA Momentum Factor ETF) | NFLX (Netflix) | |
|---|---|---|
| 1-year return | +25.2% | -34.7% |
| 5-year return | +76.1% | +41.0% |
| Volatility (ann.) | 20.6% | 35.2% |
| Beta vs S&P 500 | 1.25 | 0.99 |
| Max drawdown (3Y) | -21.0% | -49.5% |
| Market cap | – | $332.4B |
| P/E (trailing) | – | 25.7 |
| Dividend yield | 0.62% | 0.00% |
| Expense ratio | 0.15% | – |
| Assets under management | $25.3B | – |
| Sector / category | ETF · US Style | Communication Services |
On the fund side, MTUM sits in the Large Blend category at iShares, with $25.3B under management, 126 holdings, a 0.15% expense ratio, a 0.62% trailing dividend yield.
Year-by-year returns
| Year | MTUM | NFLX |
|---|---|---|
| 2022 | -18.3% | -51.1% |
| 2023 | +9.1% | +65.1% |
| 2024 | +32.9% | +83.1% |
| 2025 | +22.1% | +5.2% |
| 2026 | +21.8% | -14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTUM and NFLX good diversifiers for each other?
Reasonably. At 0.42, MTUM and NFLX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MTUM and NFLX?
As of 2026-08-27, the correlation of weekly returns between MTUM and NFLX is 0.42 over 3 years, 0.02 over 1 year and 0.47 over 5 years.
Is NFLX a good diversifier for MTUM?
Reasonably. At 0.42, MTUM and NFLX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 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/mtum-vs-nflx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mtum-vs-nflx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTUM correlations · NFLX correlations
