Sinclair Broadcast Correlations

SBGI Stock

USD 16.69 0.16 0.97%

The current 90-days correlation between Sinclair Broadcast and Liberty Media is 0.45 (i.e., Very weak diversification). The correlation of Sinclair Broadcast 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.

Sinclair Broadcast Correlation With Market

Modest diversification

The correlation between Sinclair Broadcast Group and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sinclair Broadcast Group and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sinclair Broadcast 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 price.

Moving together with Sinclair Stock

0.65

WLYB

John Wiley Sons

Pair Corr

Moving against Sinclair Stock

0.58	PSO	Pearson PLC ADR	Pair Corr
0.54	TV	Grupo Televisa SAB Buyout Trend	Pair Corr
0.52	FOX	Fox Corp Class	Pair Corr
0.48	SE	Sea	Pair Corr
0.47	NWS	News Corp B	Pair Corr
0.46	BATRA	Atlanta Braves Holdings,	Pair Corr
0.4	FLNT	Fluent Inc Earnings Call This Week	Pair Corr
0.36	IAS	Integral Ad Science	Pair Corr
0.35	BOC	Boston Omaha Corp	Pair Corr
0.35	GAIA	Gaia Inc	Pair Corr
0.32	RDI	Reading International Earnings Call Tomorrow	Pair Corr
0.47	LLYVK	Liberty Media	Pair Corr
0.47	KRKR	36Kr Holdings Downward Rally	Pair Corr
0.39	NWSA	News Corp A	Pair Corr
0.38	WMG	Warner Music Group	Pair Corr
0.37	MCHX	Marchex	Pair Corr
0.32	FWONA	Liberty Media	Pair Corr
0.31	SWAGW	Software Acquisition	Pair Corr

Related Correlations Analysis

	NWSA	FWONA	FWONK	AMCX	MCS	WMG	FOX	NWS	PARAA	BATRA
NWSA		0.88	0.83	0.28	0.59	0.54	0.48	0.92	0.21	0.53	NWSA
FWONA	0.88		0.98	0.45	0.74	0.35	0.37	0.78	0.01	0.38	FWONA
FWONK	0.83	0.98		0.56	0.81	0.23	0.23	0.7	-0.11	0.26	FWONK
AMCX	0.28	0.45	0.56		0.8	-0.49	-0.58	0.08	-0.37	-0.42	AMCX
MCS	0.59	0.74	0.81	0.8		-0.12	-0.2	0.36	-0.31	-0.19	MCS
WMG	0.54	0.35	0.23	-0.49	-0.12		0.87	0.69	0.47	0.82	WMG
FOX	0.48	0.37	0.23	-0.58	-0.2	0.87		0.63	0.44	0.83	FOX
NWS	0.92	0.78	0.7	0.08	0.36	0.69	0.63		0.34	0.74	NWS
PARAA	0.21	0.01	-0.11	-0.37	-0.31	0.47	0.44	0.34		0.47	PARAA
BATRA	0.53	0.38	0.26	-0.42	-0.19	0.82	0.83	0.74	0.47		BATRA
	NWSA	FWONA	FWONK	AMCX	MCS	WMG	FOX	NWS	PARAA	BATRA

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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	+ 0.98	FWONA
NWS	+ 0.92	NWSA
FWONA	+ 0.88	NWSA
FOX	+ 0.87	WMG
FWONK	+ 0.83	NWSA
BATRA	+ 0.83	FOX

High negative correlations

FOX	- 0.58	AMCX
WMG	- 0.49	AMCX
BATRA	- 0.42	AMCX
PARAA	- 0.37	AMCX
PARAA	- 0.31	MCS
FOX	- 0.2	MCS

Risk-Adjusted Indicators

There is a big difference between Sinclair Stock performing well and Sinclair Broadcast 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 Sinclair Broadcast'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
NWSA	0.88	(0.04)	0.00	(0.05)	0.00	0.00	1.90	(1.79)	7.78
FWONA	1.40	(0.07)	0.00	(0.05)	0.00	0.00	2.86	(3.51)	11.33
FWONK	1.34	(0.08)	0.00	(0.07)	0.00	0.00	2.97	(3.18)	9.82
AMCX	2.42	(0.47)	0.00	(0.58)	0.00	0.00	3.99	(5.59)	16.71
MCS	1.47	(0.34)	0.00	(0.31)	0.00	0.00	2.16	(2.95)	15.15
WMG	1.19	0.04	0.02	0.10	1.60	(1.24)	2.89	(2.11)	8.84
FOX	1.08	0.17	0.13	0.91	1.11	(1.16)	2.48	(2.02)	7.90
NWS	0.90	(0.01)	(0.01)	(0.01)	1.46	(0.86)	1.78	(1.92)	8.72
PARAA	0.51	0.02	0.03	0.21	0.56	(0.62)	1.04	(1.12)	5.40
BATRA	0.80	0.06	0.07	0.10	0.81	(1.02)	1.90	(1.48)	4.51

Sinclair Broadcast Corporate Management

Lucy Rutishauser	Sr. VP of Corporate Fin. and Treasurer	Profile
Delbert III	Pres Technology	Profile
Jeffrey Lewis	VP Officer	Profile
Christopher King	Vice Relations	Profile

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