IHeartMedia Correlations

IHRT Stock

USD 3.87 0.03 0.78%

The current 90-days correlation between iHeartMedia Class and Travel Leisure Co is 0.13 (i.e., Average diversification). The correlation of IHeartMedia 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. If the correlation is 0, the equities are not correlated; they are entirely random.

IHeartMedia Correlation With Market

Average diversification

The correlation between iHeartMedia Class A and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iHeartMedia Class A and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IHeartMedia Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iHeartMedia Class A. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with IHeartMedia Stock

0.78	AXP	American Express	Pair Corr
0.71	CAT	Caterpillar	Pair Corr
0.68	IBM	International Business	Pair Corr
0.64	GE	GE Aerospace	Pair Corr
0.67	CSCO	Cisco Systems	Pair Corr
0.7	MMM	3M Company	Pair Corr
0.68	XOM	Exxon Mobil Corp	Pair Corr
0.65	KO	Coca Cola Aggressive Push	Pair Corr

Moving against IHeartMedia Stock

0.77	BA	Boeing	Pair Corr
0.56	VZ	Verizon Communications	Pair Corr
0.55	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	TNL	CVS	COLM	VMD	NHLG	PTCHF	AS	IPOOF
TNL		0.22	0.22	-0.13	0.0	-0.01	-0.17	0.05	TNL
CVS	0.22		-0.42	-0.3	0.0	0.22	-0.83	0.14	CVS
COLM	0.22	-0.42		0.49	0.0	-0.26	0.64	-0.36	COLM
VMD	-0.13	-0.3	0.49		0.0	0.22	0.54	-0.42	VMD
NHLG	0.0	0.0	0.0	0.0		0.0	0.0	0.0	NHLG
PTCHF	-0.01	0.22	-0.26	0.22	0.0		-0.17	0.11	PTCHF
AS	-0.17	-0.83	0.64	0.54	0.0	-0.17		-0.31	AS
IPOOF	0.05	0.14	-0.36	-0.42	0.0	0.11	-0.31		IPOOF
	TNL	CVS	COLM	VMD	NHLG	PTCHF	AS	IPOOF

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

AS	+ 0.64	COLM
AS	+ 0.54	VMD
VMD	+ 0.49	COLM
CVS	+ 0.22	TNL
COLM	+ 0.22	TNL
PTCHF	+ 0.22	CVS

High negative correlations

AS	- 0.83	CVS
IPOOF	- 0.42	VMD
COLM	- 0.42	CVS
IPOOF	- 0.36	COLM
IPOOF	- 0.31	AS
VMD	- 0.3	CVS

Risk-Adjusted Indicators

There is a big difference between IHeartMedia Stock performing well and IHeartMedia 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 IHeartMedia'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
TNL	1.46	0.12	0.06	0.17	1.67	(1.55)	2.43	(2.00)	22.05
CVS	1.03	0.14	0.07	0.32	1.57	(1.00)	2.12	(2.03)	7.94
COLM	1.85	(0.07)	0.00	(0.02)	0.00	0.00	3.44	(3.63)	8.57
VMD	1.50	(0.05)	0.00	(0.03)	0.00	0.00	3.15	(2.64)	9.53
NHLG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PTCHF	0.83	(0.05)	0.00	2.11	0.00	0.00	0.00	0.00	33.11
AS	1.68	(0.19)	0.00	(0.19)	0.00	0.00	3.98	(4.62)	9.63
IPOOF	1.76	0.23	0.10	0.32	2.07	(1.73)	3.66	(2.66)	10.24

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