IHeartMedia Correlations

IHRT Stock

USD 1.97 0.01 0.51%

The current 90-days correlation between iHeartMedia Class and Clear Channel Outdoor 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 0.18 (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 signals in metropolitan statistical area.

Moving together with IHeartMedia Stock

0.8	DLPN	Dolphin Entertainment	Pair Corr
0.77	VSME	VS Media Holdings	Pair Corr
0.85	DIS	Walt Disney	Pair Corr
0.96	EVC	Entravision Communications	Pair Corr
0.7	IAS	Integral Ad Science	Pair Corr
0.83	TSQ	Townsquare Media	Pair Corr
0.91	MCHX	Marchex	Pair Corr
0.94	MGNI	Magnite	Pair Corr
0.78	MSGE	Madison Square Garden	Pair Corr
0.82	NXST	Nexstar Broadcasting	Pair Corr
0.76	QMMM	QMMM Holdings Limited Buyout Trend	Pair Corr
0.66	ABTS	Abits Group	Pair Corr
0.87	SPHR	Sphere Entertainment	Pair Corr
0.67	BAOS	Baosheng Media Group	Pair Corr
0.81	Z	Zillow Group Class	Pair Corr
0.82	KT	KT Corporation Potential Growth	Pair Corr
0.8	SY	So Young International Trending	Pair Corr
0.71	TC	TuanChe ADR	Pair Corr
0.88	TU	Telus Corp	Pair Corr
0.84	TV	Grupo Televisa SAB Earnings Call This Week	Pair Corr

Moving against IHeartMedia Stock

0.79	BOC	Boston Omaha Corp	Pair Corr
0.74	NCMI	National CineMedia	Pair Corr
0.72	WIMI	WiMi Hologram Cloud	Pair Corr
0.71	NCTY	The9 Ltd ADR	Pair Corr
0.66	ABLV	Able View Global	Pair Corr
0.53	WPP	WPP PLC ADR	Pair Corr
0.43	FLNT	Fluent Inc	Pair Corr
0.32	DRCT	Direct Digital Holdings	Pair Corr
0.68	STGW	Stagwell	Pair Corr
0.58	GDEVW	Nexters Warrant	Pair Corr
0.57	ANGHW	Anghami Warrants	Pair Corr
0.5	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.41	SJ	Scienjoy Holding Corp	Pair Corr

Related Correlations Analysis

	CCO	CMLS	GTN	LPTV	SSP	TSQ	WOW
CCO		-0.74	0.86	0.0	0.76	0.73	-0.48	CCO
CMLS	-0.74		-0.75	0.0	-0.72	-0.69	0.74	CMLS
GTN	0.86	-0.75		0.0	0.93	0.9	-0.6	GTN
LPTV	0.0	0.0	0.0		0.0	0.0	0.0	LPTV
SSP	0.76	-0.72	0.93	0.0		0.87	-0.67	SSP
TSQ	0.73	-0.69	0.9	0.0	0.87		-0.64	TSQ
WOW	-0.48	0.74	-0.6	0.0	-0.67	-0.64		WOW
	CCO	CMLS	GTN	LPTV	SSP	TSQ	WOW

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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

SSP	+ 0.93	GTN
TSQ	+ 0.9	GTN
TSQ	+ 0.87	SSP
GTN	+ 0.86	CCO
SSP	+ 0.76	CCO
WOW	+ 0.74	CMLS

High negative correlations

GTN	- 0.75	CMLS
CMLS	- 0.74	CCO
SSP	- 0.72	CMLS
TSQ	- 0.69	CMLS
WOW	- 0.67	SSP
WOW	- 0.64	TSQ

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
CCO	2.11	0.15	0.07	0.24	2.44	(2.46)	4.55	(4.80)	11.29
CMLS	6.04	(2.40)	0.00	(13.86)	0.00	0.00	8.89	(20.00)	35.45
GTN	3.33	0.48	0.18	0.36	2.88	(4.16)	9.90	(4.80)	24.96
LPTV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SSP	4.78	0.57	0.14	0.36	5.02	(5.52)	10.77	(9.40)	37.37
TSQ	1.72	0.07	0.02	0.20	3.02	(1.63)	3.35	(3.47)	8.36
WOW	1.68	(0.23)	0.00	(0.12)	0.00	0.00	3.40	(3.12)	14.39

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