New York Correlations

NYT Stock

USD 47.88 0.16 0.33%

The current 90-days correlation between New York Times and Scholastic is 0.03 (i.e., Significant diversification). The correlation of New York 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.

New York Correlation With Market

Average diversification

The correlation between New York Times and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New York Times 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 New York Times. 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 New Stock

0.69	WLYB	John Wiley Sons Earnings Call This Week	Pair Corr
0.65	DIS	Walt Disney	Pair Corr
0.61	GCI	Gannett	Pair Corr
0.84	MSGS	Madison Square Garden	Pair Corr
0.64	NXST	Nexstar Broadcasting Earnings Call Today	Pair Corr
0.67	RSVR	Reservoir Media	Pair Corr
0.61	SBGI	Sinclair Broadcast Earnings Call Today	Pair Corr

Moving against New Stock

0.72	FOX	Fox Corp Class	Pair Corr
0.49	PSO	Pearson PLC ADR Earnings Call Tomorrow	Pair Corr
0.47	LYV	Live Nation Entertainment	Pair Corr
0.46	SE	Sea	Pair Corr
0.43	WMG	Warner Music Group	Pair Corr
0.33	NWS	News Corp B	Pair Corr
0.32	CURIW	CuriosityStream	Pair Corr
0.5	FWONA	Liberty Media Earnings Call Today	Pair Corr
0.41	ROKU	Roku Inc	Pair Corr
0.4	NFLX	Netflix	Pair Corr
0.39	FWONK	Liberty Media Earnings Call Today	Pair Corr
0.65	BRAG	Bragg Gaming Group	Pair Corr
0.61	SPHR	Sphere Entertainment	Pair Corr
0.54	T	ATT Inc Aggressive Push	Pair Corr
0.51	CMLS	Cumulus Media Class	Pair Corr

Related Correlations Analysis

	LEE	SCHL	PSO	WLY	WLYB	GCI	PSORF	DALN
LEE		0.81	-0.7	0.8	0.9	0.82	0.0	-0.51	LEE
SCHL	0.81		-0.54	0.8	0.9	0.69	0.0	-0.81	SCHL
PSO	-0.7	-0.54		-0.77	-0.68	-0.6	0.0	0.29	PSO
WLY	0.8	0.8	-0.77		0.83	0.65	0.0	-0.56	WLY
WLYB	0.9	0.9	-0.68	0.83		0.78	0.0	-0.68	WLYB
GCI	0.82	0.69	-0.6	0.65	0.78		0.0	-0.44	GCI
PSORF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PSORF
DALN	-0.51	-0.81	0.29	-0.56	-0.68	-0.44	0.0		DALN
	LEE	SCHL	PSO	WLY	WLYB	GCI	PSORF	DALN

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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

WLYB	+ 0.9	LEE
WLYB	+ 0.9	SCHL
WLYB	+ 0.83	WLY
GCI	+ 0.82	LEE
SCHL	+ 0.81	LEE
WLY	+ 0.8	LEE

High negative correlations

DALN	- 0.81	SCHL
WLY	- 0.77	PSO
PSO	- 0.7	LEE
DALN	- 0.68	WLYB
WLYB	- 0.68	PSO
GCI	- 0.6	PSO

Risk-Adjusted Indicators

There is a big difference between New Stock performing well and New York 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 New York'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
LEE	2.54	(0.79)	0.00	(9.62)	0.00	0.00	4.04	(7.92)	15.32
SCHL	2.29	(0.17)	0.00	0.50	0.00	0.00	4.80	(3.92)	25.65
PSO	0.80	0.15	0.11	0.45	1.05	(0.78)	2.00	(1.84)	6.91
WLY	1.22	(0.35)	0.00	(0.51)	0.00	0.00	1.86	(2.94)	8.65
WLYB	1.26	(0.30)	0.00	(0.97)	0.00	0.00	1.89	(3.13)	12.46
GCI	2.26	(0.27)	0.00	(0.32)	0.00	0.00	4.41	(5.51)	13.52
PSORF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DALN	3.53	0.46	0.11	0.37	3.64	(4.63)	9.94	(5.93)	34.25

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