Live Nation Correlations

LYV Stock

USD 152.60 1.63 1.08%

The current 90-days correlation between Live Nation Entertainment and Liberty Media is 0.46 (i.e., Very weak diversification). The correlation of Live Nation 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.

Live Nation Correlation With Market

Very weak diversification

The correlation between Live Nation Entertainment and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Live Nation Entertainment and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Live Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Live Nation Entertainment. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Live Stock

0.75	SE	Sea Sell-off Trend	Pair Corr
0.9	DIS	Walt Disney	Pair Corr
0.84	MGNI	Magnite Downward Rally	Pair Corr
0.93	MSGE	Madison Square Garden	Pair Corr
0.89	NXST	Nexstar Broadcasting	Pair Corr
0.89	SPHR	Sphere Entertainment	Pair Corr
0.67	TOON	Kartoon Studios,	Pair Corr
0.66	Z	Zillow Group Class Earnings Call This Week	Pair Corr
0.61	EA	Electronic Arts Earnings Call This Week	Pair Corr
0.74	KT	KT Corporation	Pair Corr
0.79	TC	TuanChe ADR	Pair Corr
0.79	TU	Telus Corp	Pair Corr
0.76	TV	Grupo Televisa SAB Buyout Trend	Pair Corr
0.8	WB	Weibo Corp	Pair Corr
0.66	ZG	Zillow Group	Pair Corr
0.73	VENU	Venu Holding	Pair Corr

Moving against Live Stock

0.8	NCMI	National CineMedia	Pair Corr
0.52	NCTY	The9 Ltd ADR	Pair Corr
0.44	ABLV	Able View Global	Pair Corr
0.34	SJ	Scienjoy Holding Corp	Pair Corr
0.63	WIMI	WiMi Hologram Cloud	Pair Corr
0.49	ANGHW	Anghami Warrants	Pair Corr
0.48	DRCT	Direct Digital Holdings Earnings Call This Week	Pair Corr
0.47	GDEVW	Nexters Warrant	Pair Corr
0.41	FLNT	Fluent Inc	Pair Corr

Related Correlations Analysis

	FWONA	WMG	MSGS	NWSA	EXPE	MTCH	HLT	BKNG	MAR
FWONA		-0.14	0.69	0.91	0.73	0.55	0.91	0.91	0.91	FWONA
WMG	-0.14		0.33	0.17	0.29	0.38	0.1	-0.02	-0.06	WMG
MSGS	0.69	0.33		0.83	0.63	0.57	0.72	0.61	0.63	MSGS
NWSA	0.91	0.17	0.83		0.81	0.64	0.94	0.89	0.9	NWSA
EXPE	0.73	0.29	0.63	0.81		0.81	0.88	0.86	0.81	EXPE
MTCH	0.55	0.38	0.57	0.64	0.81		0.67	0.71	0.53	MTCH
HLT	0.91	0.1	0.72	0.94	0.88	0.67		0.95	0.97	HLT
BKNG	0.91	-0.02	0.61	0.89	0.86	0.71	0.95		0.92	BKNG
MAR	0.91	-0.06	0.63	0.9	0.81	0.53	0.97	0.92		MAR
	FWONA	WMG	MSGS	NWSA	EXPE	MTCH	HLT	BKNG	MAR

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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

MAR	+ 0.97	HLT
BKNG	+ 0.95	HLT
HLT	+ 0.94	NWSA
MAR	+ 0.92	BKNG
NWSA	+ 0.91	FWONA
HLT	+ 0.91	FWONA

High negative correlations

WMG	- 0.14	FWONA
MAR	- 0.06	WMG
BKNG	- 0.02	WMG

Risk-Adjusted Indicators

There is a big difference between Live Stock performing well and Live Nation 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 Live Nation'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
FWONA	1.01	0.36	0.16	2.45	0.89	(1.16)	2.32	(1.60)	7.16
WMG	1.26	0.13	(0.03)	(0.64)	1.94	(1.30)	2.26	(2.34)	10.96
MSGS	1.03	0.03	(0.03)	0.22	1.37	(1.03)	2.06	(2.04)	8.16
NWSA	0.81	0.08	0.04	0.29	0.70	(0.91)	1.80	(1.47)	5.62
EXPE	1.54	0.10	0.08	0.23	1.77	(1.67)	3.78	(2.49)	11.57
MTCH	1.44	0.19	0.01	4.32	2.20	(1.45)	2.51	(2.26)	12.08
HLT	1.12	0.20	0.21	0.32	0.77	(1.38)	3.11	(1.55)	6.54
BKNG	1.05	0.20	0.16	0.37	0.86	(1.21)	2.79	(1.76)	6.87
MAR	1.16	0.12	0.14	0.27	0.95	(1.46)	2.81	(2.14)	8.55

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