Paramount Global Correlations

PARAA Stock

USD 22.62 0.04 0.18%

The current 90-days correlation between Paramount Global Class and Fox Corp Class is 0.06 (i.e., Significant 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 0.19 (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 nation.

Moving together with Paramount Stock

0.64	KT	KT Corporation	Pair Corr
0.62	YY	YY Inc Class	Pair Corr
0.62	VEON	VEON	Pair Corr

Moving against Paramount Stock

0.55	RSVR	Reservoir Media	Pair Corr
0.48	OB	Outbrain	Pair Corr
0.47	EA	Electronic Arts Sell-off Trend	Pair Corr
0.47	TC	TuanChe ADR	Pair Corr
0.44	EEX	Emerald Expositions	Pair Corr
0.32	MCS	Marcus	Pair Corr
0.68	ADD	Color Star Technology	Pair Corr
0.63	ANGHW	Anghami Warrants	Pair Corr
0.53	AMC	AMC Entertainment	Pair Corr
0.48	ADV	Advantage Solutions	Pair Corr
0.4	ZD	Ziff Davis	Pair Corr
0.4	WIMI	WiMi Hologram Cloud	Pair Corr
0.36	FNGR	FingerMotion	Pair Corr

Related Correlations Analysis

	FOX	NWSA	NWS	FWONA	FOXA	MCS	MSGS	WBD	DIS
FOX		0.54	0.7	0.44	0.99	-0.14	-0.59	0.4	-0.01	FOX
NWSA	0.54		0.92	0.88	0.47	0.59	0.17	0.14	0.53	NWSA
NWS	0.7	0.92		0.78	0.65	0.35	-0.16	0.07	0.25	NWS
FWONA	0.44	0.88	0.78		0.35	0.73	0.32	0.03	0.69	FWONA
FOXA	0.99	0.47	0.65	0.35		-0.22	-0.66	0.43	-0.11	FOXA
MCS	-0.14	0.59	0.35	0.73	-0.22		0.77	-0.13	0.78	MCS
MSGS	-0.59	0.17	-0.16	0.32	-0.66	0.77		-0.07	0.75	MSGS
WBD	0.4	0.14	0.07	0.03	0.43	-0.13	-0.07		0.13	WBD
DIS	-0.01	0.53	0.25	0.69	-0.11	0.78	0.75	0.13		DIS
	FOX	NWSA	NWS	FWONA	FOXA	MCS	MSGS	WBD	DIS

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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

FOXA	+ 0.99	FOX
NWS	+ 0.92	NWSA
FWONA	+ 0.88	NWSA
FWONA	+ 0.78	NWS
DIS	+ 0.78	MCS
MSGS	+ 0.77	MCS

High negative correlations

MSGS	- 0.66	FOXA
MSGS	- 0.59	FOX
MCS	- 0.22	FOXA
MSGS	- 0.16	NWS
MCS	- 0.14	FOX
WBD	- 0.13	MCS

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
FOX	1.08	0.19	0.16	0.34	1.11	(1.16)	2.48	(2.02)	7.90
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
FWONA	1.41	(0.04)	0.00	(0.07)	0.00	0.00	2.86	(3.51)	11.33
FOXA	1.09	0.22	0.19	0.42	1.11	(1.30)	2.43	(2.38)	7.97
MCS	1.47	(0.29)	0.00	(0.35)	0.00	0.00	2.16	(2.95)	15.15
MSGS	1.00	(0.23)	0.00	(0.40)	0.00	0.00	1.65	(2.35)	6.74
WBD	2.19	(0.01)	0.00	(0.04)	0.00	0.00	3.97	(4.34)	11.15
DIS	1.03	(0.15)	0.00	(0.24)	0.00	0.00	1.83	(2.44)	7.36

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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