Nexstar Media Correlations

Stocks . Germany . 
Stock . Nexstar Media Group
NXZ Stock  EUR 157.60  3.80  2.47%   
The current 90-days correlation between Nexstar Media Group and Columbia Sportswear is 0.57 (i.e., Very weak diversification). The correlation of Nexstar 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.

Nexstar Media Correlation With Market

Good diversification

The correlation between Nexstar Media Group and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexstar Media Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Nexstar Media could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nexstar Media when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Nexstar Media - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Nexstar Media Group to buy it.

Moving together with Nexstar Stock

  0.78NC0E NewsPairCorr
  0.81NC0B NewsPairCorr
  0.68GTT TEGNA IncPairCorr
  0.74KBIA KB Financial Group Earnings Call This WeekPairCorr
  0.73OIX ORIXPairCorr
  0.76OIXA Orix Corp AdsPairCorr
  0.73W8V Bank of ChinaPairCorr
  0.851W3 WSP GlobalPairCorr
  0.71T1I Tamburi InvestmentPairCorr
  0.74PZXB PING AN INSURANCHPairCorr
  0.79RHM Rheinmetall AGPairCorr
  0.83KOM1 KomatsuPairCorr
  0.63SEBC Skandinaviska EnskildaPairCorr
  0.64KGHA KGHM Polska MiedzPairCorr
  0.65TDK TDK CorporationPairCorr
  0.64FA2 FORWARD AIR PPairCorr

Moving against Nexstar Stock

  0.66TKDA Takeda PharmaceuticalPairCorr
  0.61TM9 NorAm Drilling ASPairCorr
  0.82DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

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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   
LIE
+ 0.97
LIE
8QC
+ 0.94
9GY
CAI
+ 0.83
9GY
8QC
+ 0.83
CAI
8QC
+ 0.81
688
9GY
+ 0.73
688
  
High negative correlations   
9GY
- 0.72
CUW
8QC
- 0.65
CUW
CAI
- 0.49
CUW
CUW
- 0.35
688
LIE
- 0.17
CUW
CUW
- 0.17
LIE

Risk-Adjusted Indicators

There is a big difference between Nexstar Stock performing well and Nexstar 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 Nexstar 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nexstar Media without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Nexstar Media Corporate Management

Elected by the shareholders, the Nexstar Media's board of directors comprises two types of representatives: Nexstar Media inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Nexstar. The board's role is to monitor Nexstar Media's management team and ensure that shareholders' interests are well served. Nexstar 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, Nexstar Media's outside directors are responsible for providing unbiased perspectives on the board's policies.
Perry SookChairman FounderProfile
Rachel MorganGen VPProfile
Gary WeitmanEx OfficerProfile
Sean ComptonPres DivisionProfile
Brett JenkinsEx CTOProfile
JD EsqPres NetworkProfile
Lee GlihaEx CFOProfile
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