Live Nation Correlations

LYV Stock

USD 139.73 0.86 0.62%

The current 90-days correlation between Live Nation Entertainment and Liberty Media is 0.19 (i.e., Average diversification). The correlation of Live Nation 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.

Live Nation Correlation With Market

Very weak diversification

The correlation between Live Nation Entertainment and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Live Nation Entertainment and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Live Nation Entertainment. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Live Stock

0.95	SE	Sea	Pair Corr
0.82	CNK	Cinemark Holdings	Pair Corr
0.9	FOXA	Fox Corp Class	Pair Corr
0.92	DIS	Walt Disney Aggressive Push	Pair Corr
0.85	EDR	Endeavor Group Holdings	Pair Corr
0.89	EVC	Entravision Communications	Pair Corr
0.9	FOX	Fox Corp Class	Pair Corr
0.89	MCS	Marcus	Pair Corr
0.77	NWS	News Corp B	Pair Corr
0.7	PSO	Pearson PLC ADR	Pair Corr

Moving against Live Stock

0.76	DLPN	Dolphin Entertainment	Pair Corr
0.66	ADD	Color Star Technology Downward Rally	Pair Corr
0.65	BATRA	Atlanta Braves Holdings,	Pair Corr
0.57	DRCT	Direct Digital Holdings	Pair Corr
0.48	ADV	Advantage Solutions	Pair Corr
0.46	AMC	AMC Entertainment Aggressive Push	Pair Corr
0.45	BATRK	Atlanta Braves Holdings,	Pair Corr
0.75	HAO	Haoxi Health Technology	Pair Corr
0.73	MMV	MultiMetaVerse Holdings	Pair Corr
0.7	IPG	Interpublic Group	Pair Corr
0.7	LVO	LiveOne	Pair Corr
0.5	EEX	Emerald Expositions	Pair Corr
0.9	HOFV	Hall of Fame	Pair Corr
0.87	RDI	Reading International	Pair Corr
0.75	SGA	Saga Communications	Pair Corr
0.68	LILAK	Liberty Latin America	Pair Corr

Related Correlations Analysis

	FWONK	BATRA	NWS	NWSA	BATRK	FWONA	MSGS	SPHR	MCS	EDR
FWONK		-0.31	0.83	0.76	-0.12	0.98	0.83	-0.26	0.84	0.65	FWONK
BATRA	-0.31		-0.18	-0.02	0.95	-0.4	-0.47	0.43	-0.44	-0.73	BATRA
NWS	0.83	-0.18		0.98	0.06	0.76	0.73	-0.32	0.9	0.42	NWS
NWSA	0.76	-0.02	0.98		0.22	0.67	0.63	-0.23	0.81	0.28	NWSA
BATRK	-0.12	0.95	0.06	0.22		-0.23	-0.31	0.36	-0.24	-0.63	BATRK
FWONA	0.98	-0.4	0.76	0.67	-0.23		0.86	-0.3	0.84	0.72	FWONA
MSGS	0.83	-0.47	0.73	0.63	-0.31	0.86		-0.06	0.84	0.86	MSGS
SPHR	-0.26	0.43	-0.32	-0.23	0.36	-0.3	-0.06		-0.4	-0.08	SPHR
MCS	0.84	-0.44	0.9	0.81	-0.24	0.84	0.84	-0.4		0.65	MCS
EDR	0.65	-0.73	0.42	0.28	-0.63	0.72	0.86	-0.08	0.65		EDR
	FWONK	BATRA	NWS	NWSA	BATRK	FWONA	MSGS	SPHR	MCS	EDR

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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

FWONA	+ 0.98	FWONK
NWSA	+ 0.98	NWS
BATRK	+ 0.95	BATRA
MCS	+ 0.9	NWS
MSGS	+ 0.86	FWONA
EDR	+ 0.86	MSGS

High negative correlations

EDR	- 0.73	BATRA
EDR	- 0.63	BATRK
MSGS	- 0.47	BATRA
MCS	- 0.44	BATRA
MCS	- 0.4	SPHR
FWONA	- 0.4	BATRA

Risk-Adjusted Indicators

There is a big difference between Live Stock performing well and Live Nation 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 Live Nation'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
FWONK	1.16	0.07	0.05	0.19	1.22	(1.26)	2.92	(1.68)	9.14
BATRA	0.89	(0.20)	0.00	(0.25)	0.00	0.00	1.45	(1.98)	5.15
NWS	0.89	0.05	0.02	0.18	1.13	(1.00)	1.77	(1.64)	6.61
NWSA	0.87	(0.03)	(0.04)	0.08	1.21	(0.90)	1.73	(1.68)	6.51
BATRK	0.99	(0.18)	0.00	(0.17)	0.00	0.00	1.80	(2.35)	4.84
FWONA	1.14	0.09	0.06	0.21	1.35	(1.24)	2.87	(1.69)	8.37
MSGS	0.75	0.06	0.03	0.21	0.76	(0.80)	1.45	(1.32)	5.10
SPHR	2.10	(0.40)	0.00	(0.20)	0.00	0.00	5.06	(4.40)	14.27
MCS	1.41	0.62	0.52	1.22	0.32	(1.83)	4.35	(1.58)	12.61
EDR	0.40	0.12	0.03	1.03	0.24	(0.45)	1.13	(0.61)	3.12

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