News Corp Correlations

NWS Stock

USD 31.25 0.53 1.73%

The current 90-days correlation between News Corp B and Fox Corp Class is 0.41 (i.e., Very weak diversification). The correlation of News Corp 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.

News Corp Correlation With Market

Very weak diversification

The correlation between News Corp B and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding News Corp B 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 News Corp B. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with News Stock

0.66	IQ	iQIYI Inc Aggressive Push	Pair Corr
0.65	SE	Sea	Pair Corr
0.79	TV	Grupo Televisa SAB	Pair Corr
0.78	BATRA	Atlanta Braves Holdings,	Pair Corr
0.73	BATRK	Atlanta Braves Holdings,	Pair Corr
0.65	BOC	Boston Omaha Corp Earnings Call This Week	Pair Corr
0.64	FOX	Fox Corp Class	Pair Corr
0.8	LYV	Live Nation Entertainment	Pair Corr

Moving against News Stock

0.41	ANGHW	Anghami Warrants	Pair Corr
0.4	WLYB	John Wiley Sons	Pair Corr
0.35	TC	TuanChe ADR	Pair Corr
0.35	WIMI	WiMi Hologram Cloud	Pair Corr
0.31	ADD	Color Star Technology	Pair Corr
0.53	HAO	Haoxi Health Technology	Pair Corr

Related Correlations Analysis

	FOXA	FWONA	MCS	MSGS	RDIB	RSVR	NWSA	BATRA	FWONK	BATRK
FOXA		0.4	-0.28	-0.71	0.02	-0.61	0.37	0.83	0.25	0.62	FOXA
FWONA	0.4		0.66	0.21	-0.47	0.14	0.81	0.48	0.98	0.42	FWONA
MCS	-0.28	0.66		0.76	-0.53	0.72	0.59	-0.15	0.75	0.02	MCS
MSGS	-0.71	0.21	0.76		-0.45	0.88	0.2	-0.51	0.37	-0.24	MSGS
RDIB	0.02	-0.47	-0.53	-0.45		-0.55	-0.49	-0.2	-0.56	-0.32	RDIB
RSVR	-0.61	0.14	0.72	0.88	-0.55		0.22	-0.4	0.32	-0.05	RSVR
NWSA	0.37	0.81	0.59	0.2	-0.49	0.22		0.56	0.79	0.63	NWSA
BATRA	0.83	0.48	-0.15	-0.51	-0.2	-0.4	0.56		0.36	0.89	BATRA
FWONK	0.25	0.98	0.75	0.37	-0.56	0.32	0.79	0.36		0.36	FWONK
BATRK	0.62	0.42	0.02	-0.24	-0.32	-0.05	0.63	0.89	0.36		BATRK
	FOXA	FWONA	MCS	MSGS	RDIB	RSVR	NWSA	BATRA	FWONK	BATRK

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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

FWONK	+ 0.98	FWONA
BATRK	+ 0.89	BATRA
RSVR	+ 0.88	MSGS
BATRA	+ 0.83	FOXA
NWSA	+ 0.81	FWONA
FWONK	+ 0.79	NWSA

High negative correlations

MSGS	- 0.71	FOXA
RSVR	- 0.61	FOXA
FWONK	- 0.56	RDIB
RSVR	- 0.55	RDIB
RDIB	- 0.53	MCS
BATRA	- 0.51	MSGS

Risk-Adjusted Indicators

There is a big difference between News Stock performing well and News Corp 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 News Corp'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
FOXA	1.14	0.24	0.24	0.39	1.08	(1.41)	2.47	(2.38)	7.97
FWONA	1.37	0.07	0.00	(0.03)	0.00	0.00	2.86	(3.51)	11.33
MCS	1.35	(0.37)	0.00	(0.54)	0.00	0.00	2.10	(2.95)	15.15
MSGS	0.99	(0.22)	0.00	(0.47)	0.00	0.00	1.65	(2.35)	6.74
RDIB	4.48	0.77	0.15	(0.63)	5.09	(5.48)	9.14	(10.00)	29.84
RSVR	1.64	(0.28)	0.00	(0.57)	0.00	0.00	2.82	(3.73)	10.39
NWSA	0.88	(0.04)	0.00	(0.15)	0.00	0.00	1.90	(1.79)	7.78
BATRA	0.80	0.10	0.15	0.09	0.87	(0.96)	1.90	(1.61)	4.51
FWONK	1.30	0.05	0.00	(0.05)	0.00	0.00	2.97	(3.18)	9.82
BATRK	0.87	0.02	0.00	(0.05)	0.00	0.00	1.84	(1.49)	4.75

News Corp Corporate Management

Michael Bunder	Deputy VP	Profile
Michael Florin	SVP, Head of Investor Relations	Profile
Anoushka Healy	Executive Officer	Profile
Kevin Halpin	Principal Officer	Profile
Arthur Bochner	Executive Officer	Profile
Lavanya Chandrashekar	Chief Officer	Profile

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