Sinclair Broadcast Correlations

SBGI Stock

USD 14.45 0.18 1.23%

The current 90-days correlation between Sinclair Broadcast and Liberty Media is 0.29 (i.e., Modest 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 0.21 (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

0.77	ANGHW	Anghami Warrants	Pair Corr
0.83	WLYB	John Wiley Sons Earnings Call This Week	Pair Corr
0.7	ADD	Color Star Technology	Pair Corr
0.82	ADV	Advantage Solutions	Pair Corr
0.91	AMC	AMC Entertainment	Pair Corr
0.74	CCO	Clear Channel Outdoor	Pair Corr
0.76	CNK	Cinemark Holdings	Pair Corr
0.68	DIS	Walt Disney	Pair Corr
0.79	EEX	Emerald Expositions	Pair Corr
0.83	GCI	Gannett	Pair Corr
0.71	IPG	Interpublic Group	Pair Corr
0.86	LEE	Lee Enterprises	Pair Corr
0.62	MCS	Marcus	Pair Corr
0.61	NYT	New York Times	Pair Corr
0.74	OMC	Omnicom Group Sell-off Trend	Pair Corr

Moving against Sinclair Stock

0.51	SE	Sea	Pair Corr
0.44	FLNT	Fluent Inc	Pair Corr
0.4	CURIW	CuriosityStream	Pair Corr
0.31	BATRA	Atlanta Braves Holdings,	Pair Corr
0.71	FOX	Fox Corp Class	Pair Corr
0.69	FOXA	Fox Corp Class Sell-off Trend	Pair Corr
0.38	EDR	Endeavor Group Holdings	Pair Corr
0.67	TKO	TKO Group Holdings,	Pair Corr
0.57	PSO	Pearson PLC ADR Earnings Call Tomorrow	Pair Corr
0.53	LYV	Live Nation Entertainment	Pair Corr

Related Correlations Analysis

	NWSA	FWONA	FWONK	AMCX	MCS	WMG	FOX	NWS	PARAA	BATRA
NWSA		0.14	0.05	-0.07	0.73	0.67	0.13	0.86	0.48	0.69	NWSA
FWONA	0.14		0.98	-0.13	-0.05	0.4	0.85	0.54	0.12	0.54	FWONA
FWONK	0.05	0.98		-0.03	-0.05	0.3	0.76	0.44	0.09	0.43	FWONK
AMCX	-0.07	-0.13	-0.03		0.04	-0.44	-0.41	-0.13	-0.06	-0.16	AMCX
MCS	0.73	-0.05	-0.05	0.04		0.54	-0.16	0.46	0.28	0.33	MCS
WMG	0.67	0.4	0.3	-0.44	0.54		0.57	0.73	0.24	0.73	WMG
FOX	0.13	0.85	0.76	-0.41	-0.16	0.57		0.55	0.01	0.62	FOX
NWS	0.86	0.54	0.44	-0.13	0.46	0.73	0.55		0.35	0.88	NWS
PARAA	0.48	0.12	0.09	-0.06	0.28	0.24	0.01	0.35		0.27	PARAA
BATRA	0.69	0.54	0.43	-0.16	0.33	0.73	0.62	0.88	0.27		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
BATRA	+ 0.88	NWS
NWS	+ 0.86	NWSA
FOX	+ 0.85	FWONA
FOX	+ 0.76	FWONK
MCS	+ 0.73	NWSA

High negative correlations

WMG	- 0.44	AMCX
FOX	- 0.41	AMCX
FOX	- 0.16	MCS
BATRA	- 0.16	AMCX
NWS	- 0.13	AMCX
AMCX	- 0.13	FWONA

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	0.78	(0.02)	0.00	(0.02)	0.00	0.00	1.57	(1.40)	7.75
FWONA	1.11	0.26	0.17	0.60	1.16	(1.14)	3.35	(2.34)	7.69
FWONK	1.18	0.24	0.17	0.60	1.18	(1.34)	3.49	(2.44)	8.84
AMCX	2.36	(0.26)	0.00	(0.55)	0.00	0.00	5.68	(5.35)	17.12
MCS	1.17	(0.05)	0.00	(0.20)	0.00	0.00	2.26	(2.57)	6.92
WMG	1.26	0.14	0.06	0.51	1.86	(1.27)	2.89	(2.03)	9.66
FOX	0.95	0.33	0.35	(16.60)	0.62	(1.18)	2.47	(1.58)	6.38
NWS	0.83	0.02	0.02	0.04	1.29	(0.86)	1.71	(1.61)	8.69
PARAA	0.84	0.04	0.04	0.16	0.98	(1.01)	2.51	(1.37)	8.87
BATRA	0.82	0.02	0.02	0.06	1.01	(0.88)	1.47	(1.65)	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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