Warner Music Correlations

WMG Stock

USD 31.22 0.05 0.16%

The current 90-days correlation between Warner Music Group and News Corp A is 0.33 (i.e., Weak diversification). The correlation of Warner Music 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.

Warner Music Correlation With Market

Weak diversification

The correlation between Warner Music Group and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Warner Music Group and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Warner Music Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Warner Stock

0.76

DOYU

DouYu International

Pair Corr

Moving against Warner Stock

0.66	CURIW	CuriosityStream	Pair Corr
0.49	TOON	Kartoon Studios,	Pair Corr
0.49	TC	TuanChe ADR	Pair Corr
0.42	SE	Sea	Pair Corr
0.47	EDHL	Everbright Digital	Pair Corr
0.4	FNGR	FingerMotion	Pair Corr
0.36	AMC	AMC Entertainment Aggressive Push	Pair Corr

Related Correlations Analysis

	NWSA	FWONA	LYV	MSGS	LLYVK	GTM	VRM	FOUR	AZEK
NWSA		0.9	0.85	0.81	0.91	0.85	-0.57	0.91	0.7	NWSA
FWONA	0.9		0.93	0.65	0.93	0.9	-0.69	0.88	0.68	FWONA
LYV	0.85	0.93		0.7	0.97	0.89	-0.68	0.84	0.69	LYV
MSGS	0.81	0.65	0.7		0.77	0.57	-0.25	0.71	0.7	MSGS
LLYVK	0.91	0.93	0.97	0.77		0.89	-0.57	0.86	0.65	LLYVK
GTM	0.85	0.9	0.89	0.57	0.89		-0.74	0.9	0.61	GTM
VRM	-0.57	-0.69	-0.68	-0.25	-0.57	-0.74		-0.65	-0.6	VRM
FOUR	0.91	0.88	0.84	0.71	0.86	0.9	-0.65		0.79	FOUR
AZEK	0.7	0.68	0.69	0.7	0.65	0.61	-0.6	0.79		AZEK
	NWSA	FWONA	LYV	MSGS	LLYVK	GTM	VRM	FOUR	AZEK

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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

LLYVK	+ 0.97	LYV
LYV	+ 0.93	FWONA
LLYVK	+ 0.93	FWONA
LLYVK	+ 0.91	NWSA
FOUR	+ 0.91	NWSA
FWONA	+ 0.9	NWSA

High negative correlations

VRM	- 0.74	GTM
VRM	- 0.69	FWONA
VRM	- 0.68	LYV
FOUR	- 0.65	VRM
AZEK	- 0.6	VRM
VRM	- 0.57	LLYVK

Risk-Adjusted Indicators

There is a big difference between Warner Stock performing well and Warner Music 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 Warner Music'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
NWSA	0.80	0.09	0.06	0.26	0.76	(0.90)	1.80	(1.47)	4.97
FWONA	1.05	0.38	0.20	2.24	0.92	(1.20)	2.32	(1.60)	7.16
LYV	1.28	0.14	0.07	0.30	1.27	(1.35)	3.00	(2.22)	6.97
MSGS	1.05	0.06	0.00	0.23	1.32	(1.06)	2.06	(2.04)	8.16
LLYVK	1.38	0.17	0.09	0.31	1.51	(1.45)	3.59	(2.39)	6.83
GTM	1.95	0.17	0.14	0.22	1.75	(2.30)	4.29	(3.15)	13.96
VRM	2.93	(0.25)	0.00	(2.97)	0.00	0.00	8.04	(7.94)	27.02
FOUR	1.67	0.36	0.15	0.42	1.91	(1.72)	3.84	(3.24)	21.77
AZEK	1.43	0.16	0.03	1.51	1.41	(1.81)	2.63	(2.43)	11.69

Warner Music Corporate Management

Max Lousada	Chief Music	Profile
Kareem Chin	Senior Relations	Profile
Carianne Marshall	CoChair Music	Profile
Trent Esq	Deputy VP	Profile
JD Esq	Executive Counsel	Profile
Timothy Matusch	Executive Operations	Profile
Eric Levin	Ex CFO	Profile

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