Nexstar Broadcasting Correlations

NXST Stock

USD 171.15 0.86 0.51%

The current 90-days correlation between Nexstar Broadcasting and News Corp B is 0.19 (i.e., Average diversification). The correlation of Nexstar Broadcasting 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.

Nexstar Broadcasting Correlation With Market

Very weak diversification

The correlation between Nexstar Broadcasting Group and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexstar Broadcasting Group 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 Nexstar Broadcasting Group. 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 Nexstar Stock

0.61

IAS

Integral Ad Science

Pair Corr

Moving against Nexstar Stock

0.39	ADD	Color Star Technology Downward Rally	Pair Corr
0.38	EEX	Emerald Expositions	Pair Corr
0.36	HAO	Haoxi Health Technology	Pair Corr
0.34	DLPN	Dolphin Entertainment	Pair Corr
0.46	MMV	MultiMetaVerse Holdings	Pair Corr
0.31	LVO	LiveOne	Pair Corr

Related Correlations Analysis

	NWS	FOXA	AMCX	MCS	MSGS	FWONK	BATRA	NWSA	BATRK
NWS		0.91	0.49	0.91	0.74	0.83	-0.21	0.98	0.05	NWS
FOXA	0.91		0.29	0.92	0.82	0.85	-0.45	0.84	-0.2	FOXA
AMCX	0.49	0.29		0.21	0.08	0.32	0.39	0.59	0.54	AMCX
MCS	0.91	0.92	0.21		0.84	0.84	-0.44	0.83	-0.22	MCS
MSGS	0.74	0.82	0.08	0.84		0.83	-0.47	0.66	-0.3	MSGS
FWONK	0.83	0.85	0.32	0.84	0.83		-0.32	0.77	-0.11	FWONK
BATRA	-0.21	-0.45	0.39	-0.44	-0.47	-0.32		-0.06	0.94	BATRA
NWSA	0.98	0.84	0.59	0.83	0.66	0.77	-0.06		0.19	NWSA
BATRK	0.05	-0.2	0.54	-0.22	-0.3	-0.11	0.94	0.19		BATRK
	NWS	FOXA	AMCX	MCS	MSGS	FWONK	BATRA	NWSA	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

NWSA	+ 0.98	NWS
BATRK	+ 0.94	BATRA
MCS	+ 0.92	FOXA
FOXA	+ 0.91	NWS
MCS	+ 0.91	NWS
FWONK	+ 0.85	FOXA

High negative correlations

BATRA	- 0.47	MSGS
BATRA	- 0.45	FOXA
BATRA	- 0.44	MCS
BATRA	- 0.32	FWONK
BATRK	- 0.3	MSGS
BATRK	- 0.22	MCS

Risk-Adjusted Indicators

There is a big difference between Nexstar Stock performing well and Nexstar Broadcasting 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 Nexstar Broadcasting'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
NWS	0.90	0.04	0.02	0.17	1.14	(1.00)	1.77	(1.64)	6.61
FOXA	0.93	0.14	0.09	0.34	0.80	(1.19)	2.67	(1.64)	8.19
AMCX	2.67	(0.13)	0.00	(0.18)	0.00	0.00	6.36	(5.20)	17.97
MCS	1.43	0.67	0.55	1.37	0.26	(1.85)	4.35	(1.58)	12.61
MSGS	0.75	0.05	0.02	0.18	0.76	(0.80)	1.45	(1.32)	5.10
FWONK	1.17	0.09	0.07	0.21	1.22	(1.29)	2.92	(1.68)	9.14
BATRA	0.89	(0.19)	0.00	(0.26)	0.00	0.00	1.45	(1.98)	5.15
NWSA	0.88	(0.04)	(0.04)	0.07	1.22	(0.90)	1.73	(1.68)	6.51
BATRK	0.99	(0.18)	0.00	(0.18)	0.00	0.00	1.80	(2.35)	4.84

Nexstar Broadcasting Corporate Management

Rachel Morgan	General VP	Profile
Lindsey Harmon	Senior Counsel	Profile
Terri Bush	Senior Counsel	Profile
Todd Braverman	Executive Sales	Profile
JD Esq	Pres Network	Profile
Bill Mondora	Washington Chief	Profile
Jerry Walsh	Senior Development	Profile

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