Paramount Global Correlations

PARA Stock

USD 11.64 0.22 1.85%

The current 90-days correlation between Paramount Global Class and Roku Inc is 0.27 (i.e., Modest diversification). The correlation of Paramount Global 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.

Paramount Global Correlation With Market

Average diversification

The correlation between Paramount Global Class and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paramount Global Class and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Paramount Global Class. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Paramount Stock

0.71	SE	Sea	Pair Corr
0.64	WMG	Warner Music Group Sell-off Trend	Pair Corr

Moving against Paramount Stock

0.85	GCI	Gannett	Pair Corr
0.83	LVO	LiveOne	Pair Corr
0.81	EEX	Emerald Expositions	Pair Corr
0.76	TC	TuanChe ADR	Pair Corr
0.73	CCO	Clear Channel Outdoor	Pair Corr
0.72	CHR	Cheer Holding	Pair Corr
0.7	ADV	Advantage Solutions	Pair Corr
0.69	EVC	Entravision Communications	Pair Corr
0.69	MCS	Marcus	Pair Corr
0.68	HAO	Haoxi Health Technology	Pair Corr
0.64	AMC	AMC Entertainment Aggressive Push	Pair Corr
0.59	WIMI	WiMi Hologram Cloud	Pair Corr
0.57	DIS	Walt Disney	Pair Corr
0.56	FLNT	Fluent Inc Earnings Call This Week	Pair Corr
0.54	OMC	Omnicom Group	Pair Corr
0.5	IAS	Integral Ad Science	Pair Corr
0.48	DRCT	Direct Digital Holdings	Pair Corr
0.48	VSME	VS Media Holdings	Pair Corr
0.43	WLYB	John Wiley Sons	Pair Corr
0.38	GAIA	Gaia Inc Earnings Call Today	Pair Corr
0.36	IPG	Interpublic Group	Pair Corr
0.82	LDWY	Lendway	Pair Corr
0.78	TSQ	Townsquare Media	Pair Corr
0.76	NEXN	Nexxen International	Pair Corr
0.76	QNST	QuinStreet	Pair Corr
0.74	NCTY	The9 Ltd ADR	Pair Corr
0.68	KUKE	Kuke Music Holding Trending	Pair Corr
0.65	WPP	WPP PLC ADR	Pair Corr
0.51	NCMI	National CineMedia	Pair Corr
0.49	MGNI	Magnite Sell-off Trend	Pair Corr

Related Correlations Analysis

	DIS	ROKU	NFLX	AMC	WBD	PARAP	FOXA	NWSA	NWS
DIS		0.59	0.23	0.52	0.13	0.0	-0.11	0.53	0.25	DIS
ROKU	0.59		0.67	0.18	0.24	0.0	0.42	0.84	0.71	ROKU
NFLX	0.23	0.67		-0.33	0.25	0.0	0.67	0.75	0.86	NFLX
AMC	0.52	0.18	-0.33		0.08	0.0	-0.53	0.08	-0.24	AMC
WBD	0.13	0.24	0.25	0.08		0.0	0.43	0.14	0.07	WBD
PARAP	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	PARAP
FOXA	-0.11	0.42	0.67	-0.53	0.43	0.0		0.47	0.65	FOXA
NWSA	0.53	0.84	0.75	0.08	0.14	0.0	0.47		0.92	NWSA
NWS	0.25	0.71	0.86	-0.24	0.07	0.0	0.65	0.92		NWS
	DIS	ROKU	NFLX	AMC	WBD	PARAP	FOXA	NWSA	NWS

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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

NWS	+ 0.92	NWSA
NWS	+ 0.86	NFLX
NWSA	+ 0.84	ROKU
NWSA	+ 0.75	NFLX
NWS	+ 0.71	ROKU
NFLX	+ 0.67	ROKU

High negative correlations

FOXA	- 0.53	AMC
AMC	- 0.33	NFLX
NWS	- 0.24	AMC
FOXA	- 0.11	DIS
NWS	- 0.0	PARAP
NWSA	- 0.0	PARAP

Risk-Adjusted Indicators

There is a big difference between Paramount Stock performing well and Paramount Global 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 Paramount Global'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
DIS	1.03	(0.15)	0.00	(0.24)	0.00	0.00	1.83	(2.44)	7.36
ROKU	3.00	0.08	0.02	0.01	3.46	(3.23)	6.06	(5.88)	21.34
NFLX	1.67	0.14	0.06	0.08	2.18	(1.83)	3.24	(3.21)	18.23
AMC	2.15	(0.37)	0.00	(0.71)	0.00	0.00	4.42	(4.97)	15.91
WBD	2.19	(0.01)	0.00	(0.04)	0.00	0.00	3.97	(4.34)	11.15
PARAP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FOXA	1.09	0.22	0.19	0.42	1.11	(1.30)	2.43	(2.38)	7.97
NWSA	0.89	(0.04)	0.00	(0.09)	0.00	0.00	1.90	(1.79)	7.78
NWS	0.91	0.00	0.00	(0.03)	0.00	0.00	1.78	(1.92)	8.72

Paramount Global Corporate Management

Alex Berkett	Chief VP	Profile
Christopher McCarthy	CoChief Officer	Profile
Stephen Mirante	Executive Officer	Profile
Doretha Lea	Executive Relations	Profile
Jules Borkent	MD Brands	Profile
Guillermo Campanini	Chief Sur	Profile

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