IHeartMedia Correlations

IHRT Stock

USD 1.76 0.08 4.76%

The correlation of IHeartMedia 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.

IHeartMedia Correlation With Market

Modest diversification

The correlation between iHeartMedia Class A and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iHeartMedia Class A and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iHeartMedia Class A. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with IHeartMedia Stock

0.78	FLNT	Fluent Inc Earnings Call This Week	Pair Corr
0.64	ADV	Advantage Solutions	Pair Corr
0.66	BOC	Boston Omaha Corp Earnings Call Tomorrow	Pair Corr
0.73	CCO	Clear Channel Outdoor	Pair Corr
0.8	CHR	Cheer Holding	Pair Corr
0.67	DIS	Walt Disney	Pair Corr
0.66	GCI	Gannett	Pair Corr
0.76	MCS	Marcus	Pair Corr
0.69	RDI	Reading International Earnings Call This Week	Pair Corr
0.82	GAIA	Gaia Inc Earnings Call Tomorrow	Pair Corr
0.68	TSQ	Townsquare Media	Pair Corr
0.63	LLYVK	Liberty Media	Pair Corr

Moving against IHeartMedia Stock

0.78	NXST	Nexstar Broadcasting	Pair Corr
0.73	QMMM	QMMM Holdings Limited	Pair Corr
0.47	PARA	Paramount Global Class	Pair Corr
0.45	RDIB	Reading International Earnings Call This Week	Pair Corr
0.38	LBRDA	Liberty Broadband Srs	Pair Corr
0.36	LBRDK	Liberty Broadband Srs	Pair Corr

Related Correlations Analysis

	EMMS	BBGI	LSXMB	SGA	SSP	GTN-A	TGNA	CMLS
EMMS		0.0	0.0	0.0	0.0	0.0	0.0	0.0	EMMS
BBGI	0.0		0.0	-0.3	-0.09	0.25	0.17	0.68	BBGI
LSXMB	0.0	0.0		0.0	0.0	0.0	0.0	0.0	LSXMB
SGA	0.0	-0.3	0.0		0.27	0.3	0.23	0.18	SGA
SSP	0.0	-0.09	0.0	0.27		0.44	0.5	-0.27	SSP
GTN-A	0.0	0.25	0.0	0.3	0.44		0.53	0.03	GTN-A
TGNA	0.0	0.17	0.0	0.23	0.5	0.53		-0.06	TGNA
CMLS	0.0	0.68	0.0	0.18	-0.27	0.03	-0.06		CMLS
	EMMS	BBGI	LSXMB	SGA	SSP	GTN-A	TGNA	CMLS

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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

CMLS	+ 0.68	BBGI
TGNA	+ 0.53	GTN-A
TGNA	+ 0.5	SSP
GTN-A	+ 0.44	SSP
GTN-A	+ 0.3	SGA
SSP	+ 0.27	SGA

High negative correlations

SGA	- 0.3	BBGI
CMLS	- 0.27	SSP
SSP	- 0.09	BBGI
CMLS	- 0.06	TGNA
CMLS	- 0.0	LSXMB
TGNA	- 0.0	LSXMB

Risk-Adjusted Indicators

There is a big difference between IHeartMedia Stock performing well and IHeartMedia 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 IHeartMedia'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
EMMS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BBGI	2.66	(0.67)	0.00	2.15	0.00	0.00	4.03	(9.37)	18.82
LSXMB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SGA	1.69	0.05	0.05	0.15	2.04	(1.85)	4.86	(3.30)	12.30
SSP	5.70	1.05	0.22	3.05	4.43	(7.43)	14.03	(7.56)	53.48
GTN-A	2.89	0.36	0.10	(0.67)	3.79	(3.24)	10.11	(7.08)	22.97
TGNA	1.15	0.03	0.07	(0.76)	1.30	(1.34)	2.38	(2.43)	10.43
CMLS	4.63	(0.48)	0.00	(0.28)	0.00	0.00	8.54	(9.62)	38.17

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