Warner Music Correlations

WMG Stock

USD 32.44 0.04 0.12%

The current 90-days correlation between Warner Music Group and News Corp A is 0.4 (i.e., Very weak diversification). The correlation of Warner Music 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.

Warner Music Correlation With Market

Modest diversification

The correlation between Warner Music Group and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Warner Music Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Warner Music 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 population.

Moving together with Warner Stock

0.84	T	ATT Inc Earnings Call This Week	Pair Corr
0.68	IQ	iQIYI Inc	Pair Corr
0.83	TU	Telus Corp	Pair Corr
0.71	TV	Grupo Televisa SAB	Pair Corr
0.73	VZ	Verizon Communications	Pair Corr
0.86	WB	Weibo Corp	Pair Corr
0.76	YY	YY Inc Class	Pair Corr
0.85	ZH	Zhihu Inc ADR Earnings Call This Week	Pair Corr
0.82	BATRA	Atlanta Braves Holdings,	Pair Corr
0.8	BATRK	Atlanta Braves Holdings,	Pair Corr
0.75	AMX	America Movil SAB	Pair Corr

Moving against Warner Stock

0.58	TC	TuanChe ADR	Pair Corr
0.46	ZD	Ziff Davis	Pair Corr
0.36	RSVR	Reservoir Media	Pair Corr
0.32	OB	Outbrain	Pair Corr
0.31	DRCT	Direct Digital Holdings Earnings Call This Week	Pair Corr
0.65	DJT	Trump Media Technology Symbol Change	Pair Corr
0.54	ADD	Color Star Technology	Pair Corr
0.52	ANGHW	Anghami Warrants	Pair Corr
0.52	DDI	Doubledown Interactive	Pair Corr
0.43	WIMI	WiMi Hologram Cloud	Pair Corr
0.41	CCO	Clear Channel Outdoor Buyout Trend	Pair Corr
0.37	AMC	AMC Entertainment Aggressive Push	Pair Corr

Related Correlations Analysis

	NWSA	MCS	FWONA	FOX	FWONK	BATRA	NWS	BATRK	MSGS	WWE
NWSA		0.59	0.87	0.52	0.83	0.53	0.91	0.55	0.18	0.0	NWSA
MCS	0.59		0.72	-0.16	0.8	-0.18	0.34	-0.09	0.77	0.0	MCS
FWONA	0.87	0.72		0.44	0.98	0.41	0.77	0.38	0.3	0.0	FWONA
FOX	0.52	-0.16	0.44		0.29	0.87	0.7	0.75	-0.61	0.0	FOX
FWONK	0.83	0.8	0.98	0.29		0.28	0.69	0.29	0.45	0.0	FWONK
BATRA	0.53	-0.18	0.41	0.87	0.28		0.76	0.92	-0.55	0.0	BATRA
NWS	0.91	0.34	0.77	0.7	0.69	0.76		0.71	-0.17	0.0	NWS
BATRK	0.55	-0.09	0.38	0.75	0.29	0.92	0.71		-0.38	0.0	BATRK
MSGS	0.18	0.77	0.3	-0.61	0.45	-0.55	-0.17	-0.38		0.0	MSGS
WWE	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		WWE
	NWSA	MCS	FWONA	FOX	FWONK	BATRA	NWS	BATRK	MSGS	WWE

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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
BATRK	+ 0.92	BATRA
NWS	+ 0.91	NWSA
FWONA	+ 0.87	NWSA
BATRA	+ 0.87	FOX
FWONK	+ 0.83	NWSA

High negative correlations

MSGS	- 0.61	FOX
MSGS	- 0.55	BATRA
MSGS	- 0.38	BATRK
BATRA	- 0.18	MCS
MSGS	- 0.17	NWS
FOX	- 0.16	MCS

Risk-Adjusted Indicators

There is a big difference between Warner Stock performing well and Warner Music 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 Warner Music'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	(0.03)	0.00	(0.10)	0.00	0.00	1.90	(1.79)	7.78
MCS	1.47	(0.26)	0.00	(0.33)	0.00	0.00	2.16	(2.95)	15.15
FWONA	1.37	(0.05)	0.00	(0.12)	0.00	0.00	2.34	(3.51)	11.33
FOX	1.08	0.20	0.19	0.31	1.11	(1.19)	2.48	(2.02)	7.90
FWONK	1.28	(0.08)	0.00	(0.15)	0.00	0.00	2.47	(3.18)	9.82
BATRA	0.80	0.09	0.14	0.10	0.82	(1.00)	1.90	(1.48)	4.51
NWS	0.91	0.03	0.00	(0.04)	0.00	0.00	1.78	(1.92)	8.72
BATRK	0.87	0.03	0.06	(0.01)	1.03	(0.90)	1.84	(1.48)	4.75
MSGS	1.00	(0.21)	0.00	(0.40)	0.00	0.00	1.65	(2.35)	6.74
WWE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Warner Music Corporate Management

Max Lousada	Chief Music	Profile
Kareem Chin	Senior Relations	Profile
Carianne Marshall	CoChair Music	Profile
Trent Esq	Deputy VP	Profile
JD Esq	Executive Counsel	Profile
Timothy Matusch	Executive Operations	Profile
Eric Levin	Ex CFO	Profile

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