NFLX vs NWSA: Correlation
How closely do Netflix (NFLX) and News Corp (Class A) (NWSA) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NFLX and NWSA?
Across a 3-year window, the weekly returns of NFLX and NWSA correlate at 0.29, weak. The past 12 months show a weaker link (0.05) than the 3-year average (0.29). Stretching to 5 years gives 0.42, with an annualized covariance of 239.3 %².
Within NFLX's tracked universe of 33 assets, NWSA comes in at #22 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NWSA ahead by 40.7 points (-34.7% versus +6.0%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.02 to 0.71. Risk is not evenly split, since NFLX carries 1.5 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.
NFLX vs NWSA: side by side
| NFLX (Netflix) | NWSA (News Corp (Class A)) | |
|---|---|---|
| 1-year return | -34.7% | +6.0% |
| 5-year return | +41.0% | +45.9% |
| Volatility (ann.) | 35.2% | 23.4% |
| Beta vs S&P 500 | 0.99 | 0.76 |
| Max drawdown (3Y) | -49.5% | -27.8% |
| Market cap | $332.4B | $16.8B |
| P/E (trailing) | 25.7 | 30.0 |
| Dividend yield | 0.00% | 0.65% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | NFLX | NWSA |
|---|---|---|
| 2022 | -51.1% | -17.6% |
| 2023 | +65.1% | +36.4% |
| 2024 | +83.1% | +13.0% |
| 2025 | +5.2% | -4.5% |
| 2026 | -14.8% | +19.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NFLX and NWSA good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NFLX and NWSA?
As of 2026-08-27, the correlation of weekly returns between NFLX and NWSA is 0.29 over 3 years, 0.05 over 1 year and 0.42 over 5 years.
Is NWSA a good diversifier for NFLX?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 mean?
A reading of 0.29 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/nflx-vs-nwsa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nflx-vs-nwsa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NFLX correlations · NWSA correlations
