News Corp Correlations

NWSA Stock

USD 27.16 0.36 1.34%

The current 90-days correlation between News Corp A and Liberty Media is 0.33 (i.e., 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.

News Corp Correlation With Market

Good diversification

The correlation between News Corp A and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding News Corp A 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 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 state.

Moving together with News Stock

0.65	EDR	Endeavor Group Holdings	Pair Corr
0.88	LYV	Live Nation Entertainment	Pair Corr
0.93	NWS	News Corp B	Pair Corr
0.85	TKO	TKO Group Holdings,	Pair Corr
0.63	IMAX	Imax Corp	Pair Corr
0.91	LLYVA	Liberty Media	Pair Corr
0.9	LLYVK	Liberty Media	Pair Corr
0.88	FWONA	Liberty Media	Pair Corr
0.84	FWONK	Liberty Media	Pair Corr
0.78	NFLX	Netflix	Pair Corr

Moving against News Stock

0.54	RDIB	Reading International Earnings Call This Week	Pair Corr
0.47	EA	Electronic Arts	Pair Corr
0.42	BREA	Brera Holdings PLC	Pair Corr
0.41	NXST	Nexstar Broadcasting	Pair Corr
0.36	SBGI	Sinclair Broadcast	Pair Corr
0.31	CPOP	Pop Culture Group	Pair Corr

Related Correlations Analysis

	MCS	FWONA	WMG	FOX	NWS	PARAA	FWONK	BATRA	BATRK	RDIB
MCS		0.75	-0.1	-0.07	0.38	-0.25	0.8	-0.13	-0.11	-0.22	MCS
FWONA	0.75		0.37	0.49	0.78	0.02	0.99	0.43	0.4	-0.52	FWONA
WMG	-0.1	0.37		0.89	0.69	0.5	0.26	0.82	0.81	-0.27	WMG
FOX	-0.07	0.49	0.89		0.71	0.41	0.37	0.88	0.85	-0.41	FOX
NWS	0.38	0.78	0.69	0.71		0.34	0.71	0.76	0.74	-0.58	NWS
PARAA	-0.25	0.02	0.5	0.41	0.34		-0.08	0.43	0.38	-0.2	PARAA
FWONK	0.8	0.99	0.26	0.37	0.71	-0.08		0.33	0.31	-0.48	FWONK
BATRA	-0.13	0.43	0.82	0.88	0.76	0.43	0.33		0.97	-0.49	BATRA
BATRK	-0.11	0.4	0.81	0.85	0.74	0.38	0.31	0.97		-0.38	BATRK
RDIB	-0.22	-0.52	-0.27	-0.41	-0.58	-0.2	-0.48	-0.49	-0.38		RDIB
	MCS	FWONA	WMG	FOX	NWS	PARAA	FWONK	BATRA	BATRK	RDIB

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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	+ 0.99	FWONA
BATRK	+ 0.97	BATRA
FOX	+ 0.89	WMG
BATRA	+ 0.88	FOX
BATRK	+ 0.85	FOX
BATRA	+ 0.82	WMG

High negative correlations

RDIB	- 0.58	NWS
RDIB	- 0.52	FWONA
RDIB	- 0.49	BATRA
RDIB	- 0.48	FWONK
RDIB	- 0.41	FOX
RDIB	- 0.38	BATRK

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
MCS	1.51	(0.37)	0.00	0.59	0.00	0.00	2.16	(2.95)	15.15
FWONA	1.37	(0.09)	0.00	0.72	0.00	0.00	2.34	(3.51)	11.33
WMG	1.19	0.09	0.10	(1.73)	1.60	(1.25)	2.89	(1.85)	8.84
FOX	1.06	0.08	0.13	(0.43)	1.18	(1.16)	2.29	(2.02)	7.90
NWS	0.91	0.02	0.07	(0.16)	1.48	(0.87)	1.78	(1.92)	8.72
PARAA	0.45	0.01	0.12	0.07	0.58	(0.50)	0.90	(1.12)	3.12
FWONK	1.27	(0.11)	0.00	0.73	0.00	0.00	2.47	(3.18)	9.82
BATRA	0.76	0.10	0.24	(0.65)	0.63	(1.00)	1.90	(1.29)	4.51
BATRK	0.85	0.05	0.16	(0.34)	0.82	(0.95)	1.84	(1.42)	4.75
RDIB	4.94	0.79	0.10	0.94	6.10	(5.55)	12.41	(11.62)	43.09

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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