News Corp Correlations

NWS Stock

USD 34.46 0.36 1.03%

The current 90-days correlation between News Corp B and Fox Corp Class is 0.58 (i.e., Very weak diversification). The correlation of News Corp 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.

News Corp Correlation With Market

Poor diversification

The correlation between News Corp B and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding News Corp B and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with News Stock

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

Moving together with News Stock

0.63	SE	Sea	Pair Corr
0.67	TV	Grupo Televisa SAB Earnings Call This Week	Pair Corr
0.83	DIS	Walt Disney	Pair Corr
0.77	EVC	Entravision Communications	Pair Corr
0.65	GCI	Gannett	Pair Corr
0.77	IAS	Integral Ad Science	Pair Corr
0.79	TSQ	Townsquare Media	Pair Corr
0.66	IMAX	Imax Corp Earnings Call This Week	Pair Corr
0.71	MCHX	Marchex	Pair Corr
0.9	MGNI	Magnite	Pair Corr
0.9	MSGE	Madison Square Garden	Pair Corr
0.87	NXST	Nexstar Broadcasting	Pair Corr
0.85	QMMM	QMMM Holdings Limited Buyout Trend	Pair Corr
0.76	RSVR	Reservoir Media	Pair Corr
0.64	ABTS	Abits Group	Pair Corr
0.86	SCHL	Scholastic Earnings Call This Week	Pair Corr
0.87	SPHR	Sphere Entertainment	Pair Corr
0.8	BRAG	Bragg Gaming Group	Pair Corr
0.78	Z	Zillow Group Class	Pair Corr

Moving against News Stock

0.5	PSO	Pearson PLC ADR	Pair Corr
0.47	BOC	Boston Omaha Corp	Pair Corr
0.45	WIMI	WiMi Hologram Cloud	Pair Corr
0.36	WPP	WPP PLC ADR	Pair Corr
0.86	NCMI	National CineMedia	Pair Corr
0.5	KUKE	Kuke Music Holding	Pair Corr
0.41	NCTY	The9 Ltd ADR	Pair Corr
0.36	ABLV	Able View Global	Pair Corr
0.47	STGW	Stagwell	Pair Corr
0.37	VZ	Verizon Communications Earnings Call This Week	Pair Corr

Related Correlations Analysis

	FOXA	FWONA	MCS	MSGS	RDIB	RSVR	NWSA	BATRA	FWONK	BATRK
FOXA		0.9	0.68	0.58	-0.1	0.67	0.81	0.67	0.88	0.73	FOXA
FWONA	0.9		0.57	0.64	0.15	0.68	0.9	0.77	0.98	0.83	FWONA
MCS	0.68	0.57		0.1	0.0	0.56	0.49	0.24	0.55	0.32	MCS
MSGS	0.58	0.64	0.1		-0.2	0.57	0.81	0.91	0.68	0.87	MSGS
RDIB	-0.1	0.15	0.0	-0.2		0.09	0.06	-0.19	0.1	-0.15	RDIB
RSVR	0.67	0.68	0.56	0.57	0.09		0.74	0.63	0.68	0.67	RSVR
NWSA	0.81	0.9	0.49	0.81	0.06	0.74		0.86	0.91	0.89	NWSA
BATRA	0.67	0.77	0.24	0.91	-0.19	0.63	0.86		0.82	0.99	BATRA
FWONK	0.88	0.98	0.55	0.68	0.1	0.68	0.91	0.82		0.88	FWONK
BATRK	0.73	0.83	0.32	0.87	-0.15	0.67	0.89	0.99	0.88		BATRK
	FOXA	FWONA	MCS	MSGS	RDIB	RSVR	NWSA	BATRA	FWONK	BATRK

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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
FWONK	+ 0.98	FWONA
BATRA	+ 0.91	MSGS
FWONK	+ 0.91	NWSA
FWONA	+ 0.9	FOXA
NWSA	+ 0.9	FWONA

High negative correlations

RDIB	- 0.2	MSGS
BATRA	- 0.19	RDIB
BATRK	- 0.15	RDIB
RDIB	- 0.1	FOXA
RDIB	- 0.0	MCS

Risk-Adjusted Indicators

There is a big difference between News Stock performing well and News Corp 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 News Corp'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
FOXA	1.15	0.08	0.04	0.22	1.35	(1.20)	2.75	(2.49)	8.24
FWONA	1.07	0.45	0.22	(2.94)	0.89	(1.25)	2.32	(1.60)	7.16
MCS	1.40	0.05	0.02	0.18	1.74	(1.46)	3.48	(3.23)	13.97
MSGS	1.05	0.06	0.00	0.23	1.32	(1.06)	2.06	(2.04)	8.16
RDIB	4.66	0.53	0.06	(1.05)	5.22	(5.43)	8.99	(7.60)	35.58
RSVR	1.65	(0.12)	(0.02)	0.05	2.23	(1.65)	3.19	(3.51)	13.61
NWSA	0.80	0.09	0.06	0.26	0.76	(0.90)	1.80	(1.47)	4.97
BATRA	0.82	0.20	0.13	0.66	0.60	(1.02)	1.68	(1.39)	8.04
FWONK	0.93	0.41	0.26	11.12	0.60	(1.12)	2.52	(1.31)	6.35
BATRK	0.87	0.25	0.19	0.63	0.60	(1.01)	2.13	(1.33)	7.47

News Corp Corporate Management

Michael Bunder	Deputy VP	Profile
Michael Florin	SVP, Head of Investor Relations	Profile
Anoushka Healy	Executive Officer	Profile
Kevin Halpin	Principal Officer	Profile
Arthur Bochner	Executive Officer	Profile
Lavanya Chandrashekar	Chief Officer	Profile

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