Liberty Media Correlations

FWONA Stock

USD 93.40 0.30 0.32%

The current 90-days correlation between Liberty Media and News Corp B is 0.33 (i.e., Weak diversification). The correlation of Liberty Media 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.

Liberty Media Correlation With Market

Average diversification

The correlation between Liberty Media and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Liberty Media and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Liberty Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Liberty Media. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For information on how to trade Liberty Stock refer to our How to Trade Liberty Stock guide.

Moving together with Liberty Stock

0.82	SE	Sea	Pair Corr
0.94	DIS	Walt Disney	Pair Corr
0.86	MGNI	Magnite	Pair Corr
0.96	MSGE	Madison Square Garden	Pair Corr
0.88	NXST	Nexstar Broadcasting	Pair Corr
0.92	SPHR	Sphere Entertainment	Pair Corr
0.7	TOON	Kartoon Studios,	Pair Corr
0.7	Z	Zillow Group Class	Pair Corr
0.63	EA	Electronic Arts Earnings Call This Week	Pair Corr
0.8	KT	KT Corporation Potential Growth	Pair Corr
0.81	TC	TuanChe ADR	Pair Corr
0.85	TU	Telus Corp	Pair Corr
0.78	TV	Grupo Televisa SAB Earnings Call Today	Pair Corr
0.86	WB	Weibo Corp	Pair Corr
0.71	ZG	Zillow Group	Pair Corr
0.73	VENU	Venu Holding	Pair Corr

Moving against Liberty Stock

0.86	NCMI	National CineMedia	Pair Corr
0.53	NCTY	The9 Ltd ADR	Pair Corr
0.39	VZ	Verizon Communications Earnings Call Today	Pair Corr
0.7	WIMI	WiMi Hologram Cloud	Pair Corr
0.6	GDEVW	Nexters Warrant	Pair Corr
0.47	FLNT	Fluent Inc	Pair Corr
0.44	ANGHW	Anghami Warrants	Pair Corr

Related Correlations Analysis

	BATRA	MSGS	NWS	NWSA	BATRK	FWONK	BATRB	MCS	WMG	FOX
BATRA		0.91	0.84	0.86	0.99	0.82	0.03	0.24	0.25	0.67	BATRA
MSGS	0.91		0.82	0.81	0.87	0.68	0.24	0.1	0.36	0.59	MSGS
NWS	0.84	0.82		0.99	0.86	0.88	-0.08	0.47	0.17	0.81	NWS
NWSA	0.86	0.81	0.99		0.89	0.91	-0.12	0.49	0.14	0.82	NWSA
BATRK	0.99	0.87	0.86	0.89		0.88	-0.08	0.32	0.15	0.73	BATRK
FWONK	0.82	0.68	0.88	0.91	0.88		-0.35	0.55	-0.16	0.88	FWONK
BATRB	0.03	0.24	-0.08	-0.12	-0.08	-0.35		-0.66	0.64	-0.43	BATRB
MCS	0.24	0.1	0.47	0.49	0.32	0.55	-0.66		-0.37	0.65	MCS
WMG	0.25	0.36	0.17	0.14	0.15	-0.16	0.64	-0.37		-0.31	WMG
FOX	0.67	0.59	0.81	0.82	0.73	0.88	-0.43	0.65	-0.31		FOX
	BATRA	MSGS	NWS	NWSA	BATRK	FWONK	BATRB	MCS	WMG	FOX

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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

BATRK	+ 0.99	BATRA
NWSA	+ 0.99	NWS
MSGS	+ 0.91	BATRA
FWONK	+ 0.91	NWSA
BATRK	+ 0.89	NWSA
FWONK	+ 0.88	NWS

High negative correlations

MCS	- 0.66	BATRB
FOX	- 0.43	BATRB
WMG	- 0.37	MCS
BATRB	- 0.35	FWONK
FOX	- 0.31	WMG
WMG	- 0.16	FWONK

Risk-Adjusted Indicators

There is a big difference between Liberty Stock performing well and Liberty Media 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 Liberty Media'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
BATRA	0.82	0.20	0.13	0.66	0.60	(1.02)	1.68	(1.39)	8.04
MSGS	1.05	0.06	0.00	0.23	1.32	(1.06)	2.06	(2.04)	8.16
NWS	0.80	0.10	0.06	0.28	0.73	(0.90)	1.94	(1.36)	4.33
NWSA	0.80	0.09	0.06	0.26	0.76	(0.90)	1.80	(1.47)	4.97
BATRK	0.87	0.25	0.19	0.63	0.60	(1.01)	2.13	(1.33)	7.47
FWONK	0.93	0.41	0.26	11.12	0.60	(1.12)	2.52	(1.31)	6.35
BATRB	0.85	(0.10)	0.00	(0.06)	0.00	0.00	0.00	0.00	27.94
MCS	1.40	0.05	0.02	0.18	1.74	(1.46)	3.48	(3.23)	13.97
WMG	1.25	0.02	(0.01)	0.16	1.94	(1.30)	2.26	(2.34)	10.96
FOX	1.14	0.06	0.03	0.19	1.33	(1.20)	2.94	(2.52)	7.55

Liberty Media Corporate Executives

Elected by the shareholders, the Liberty Media's board of directors comprises two types of representatives: Liberty Media inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Liberty. The board's role is to monitor Liberty Media's management team and ensure that shareholders' interests are well served. Liberty Media's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Liberty Media's outside directors are responsible for providing unbiased perspectives on the board's policies.

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