Cumulus Media Correlations

CMLS Stock

USD 0.45 0.01 2.27%

The correlation of Cumulus Media 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Cumulus Media Correlation With Market

Weak diversification

The correlation between Cumulus Media Class and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cumulus Media Class and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cumulus Media Class. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Cumulus Stock

0.85	FLNT	Fluent Inc Earnings Call This Week	Pair Corr
0.66	ADV	Advantage Solutions	Pair Corr
0.74	CCO	Clear Channel Outdoor	Pair Corr
0.83	CHR	Cheer Holding	Pair Corr
0.77	DIS	Walt Disney	Pair Corr
0.73	GCI	Gannett	Pair Corr
0.64	IAS	Integral Ad Science	Pair Corr
0.83	MCS	Marcus	Pair Corr
0.69	GAIA	Gaia Inc Earnings Call Tomorrow	Pair Corr
0.7	TSQ	Townsquare Media	Pair Corr
0.7	LLYVK	Liberty Media	Pair Corr

Moving against Cumulus Stock

0.88	NXST	Nexstar Broadcasting	Pair Corr
0.82	QMMM	QMMM Holdings Limited	Pair Corr
0.55	PARA	Paramount Global Class	Pair Corr
0.47	LBRDA	Liberty Broadband Srs	Pair Corr
0.46	RDIB	Reading International Earnings Call This Week	Pair Corr
0.43	LBRDK	Liberty Broadband Srs	Pair Corr

Related Correlations Analysis

	SSP	GTN	AUDA	LPTV	PBSFY	RGLXY	IHRTB	ITVPY	ITVPF	SALM
SSP		0.42	0.0	0.0	0.14	0.2	-0.08	0.15	0.01	0.0	SSP
GTN	0.42		0.0	0.0	0.79	0.52	-0.69	0.43	0.27	0.0	GTN
AUDA	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AUDA
LPTV	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	LPTV
PBSFY	0.14	0.79	0.0	0.0		0.55	-0.58	0.63	0.23	0.0	PBSFY
RGLXY	0.2	0.52	0.0	0.0	0.55		-0.32	0.75	-0.32	0.0	RGLXY
IHRTB	-0.08	-0.69	0.0	0.0	-0.58	-0.32		-0.17	-0.01	0.0	IHRTB
ITVPY	0.15	0.43	0.0	0.0	0.63	0.75	-0.17		-0.18	0.0	ITVPY
ITVPF	0.01	0.27	0.0	0.0	0.23	-0.32	-0.01	-0.18		0.0	ITVPF
SALM	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		SALM
	SSP	GTN	AUDA	LPTV	PBSFY	RGLXY	IHRTB	ITVPY	ITVPF	SALM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PBSFY	+ 0.79	GTN
ITVPY	+ 0.75	RGLXY
ITVPY	+ 0.63	PBSFY
RGLXY	+ 0.55	PBSFY
RGLXY	+ 0.52	GTN
ITVPY	+ 0.43	GTN

High negative correlations

IHRTB	- 0.69	GTN
IHRTB	- 0.58	PBSFY
ITVPF	- 0.32	RGLXY
IHRTB	- 0.32	RGLXY
ITVPF	- 0.18	ITVPY
ITVPY	- 0.17	IHRTB

Risk-Adjusted Indicators

There is a big difference between Cumulus Stock performing well and Cumulus Media Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Cumulus Media's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SSP	5.70	1.05	0.22	3.05	4.43	(7.43)	14.03	(7.56)	53.48
GTN	3.51	0.63	0.16	0.44	3.57	(3.96)	6.97	(5.75)	16.97
AUDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LPTV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PBSFY	1.73	0.39	0.13	(10.33)	1.73	(3.76)	8.33	(3.60)	17.52
RGLXY	0.44	0.20	0.00	(1.40)	0.00	0.00	0.93	0.00	8.04
IHRTB	1.91	(1.09)	0.00	0.94	0.00	0.00	0.00	0.00	33.11
ITVPY	1.44	0.26	0.18	14.93	1.34	(1.94)	4.60	(2.39)	10.15
ITVPF	2.47	0.57	0.06	1.16	3.18	(9.62)	7.14	(6.85)	64.58
SALM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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