IHeartMedia Correlations

IHRT Stock

USD 2.40 0.05 2.04%

The current 90-days correlation between iHeartMedia Class and Roku Inc is 0.21 (i.e., Modest 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

Significant diversification

The correlation between iHeartMedia Class A and DJI is 0.03 (i.e., Significant 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.

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

0.78	SE	Sea	Pair Corr
0.76	CNK	Cinemark Holdings	Pair Corr
0.78	FOXA	Fox Corp Class	Pair Corr
0.76	DIS	Walt Disney	Pair Corr
0.74	EDR	Endeavor Group Holdings	Pair Corr
0.8	EVC	Entravision Communications	Pair Corr
0.78	FOX	Fox Corp Class	Pair Corr
0.64	PSO	Pearson PLC ADR	Pair Corr
0.66	WBD	Warner Bros Discovery Aggressive Push	Pair Corr
0.78	WLY	John Wiley Sons	Pair Corr
0.65	IMAX	Imax Corp	Pair Corr
0.86	LLYVA	Liberty Media	Pair Corr
0.86	LLYVK	Liberty Media	Pair Corr
0.7	FWONA	Liberty Media	Pair Corr
0.68	FWONK	Liberty Media	Pair Corr
0.79	CMCSA	Comcast Corp Sell-off Trend	Pair Corr
0.61	CHTR	Charter Communications	Pair Corr
0.73	T	ATT Inc Aggressive Push	Pair Corr
0.76	Z	Zillow Group Class	Pair Corr

Moving against IHeartMedia Stock

0.75	SGA	Saga Communications	Pair Corr
0.68	LILAK	Liberty Latin America	Pair Corr
0.5	ADV	Advantage Solutions	Pair Corr
0.45	DRCT	Direct Digital Holdings	Pair Corr
0.45	EEX	Emerald Expositions	Pair Corr
0.7	TC	TuanChe ADR	Pair Corr
0.68	UONEK	Urban One Class	Pair Corr
0.59	TU	Telus Corp	Pair Corr

Related Correlations Analysis

	DIS	ROKU	NFLX	AMC	WBD	NWSA	NWS
DIS		0.11	0.93	-0.37	0.83	0.65	0.78	DIS
ROKU	0.11		0.1	-0.53	0.05	-0.31	-0.17	ROKU
NFLX	0.93	0.1		-0.38	0.8	0.7	0.83	NFLX
AMC	-0.37	-0.53	-0.38		-0.08	0.1	-0.07	AMC
WBD	0.83	0.05	0.8	-0.08		0.78	0.84	WBD
NWSA	0.65	-0.31	0.7	0.1	0.78		0.97	NWSA
NWS	0.78	-0.17	0.83	-0.07	0.84	0.97		NWS
	DIS	ROKU	NFLX	AMC	WBD	NWSA	NWS

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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

NWS	+ 0.97	NWSA
NFLX	+ 0.93	DIS
NWS	+ 0.84	WBD
WBD	+ 0.83	DIS
NWS	+ 0.83	NFLX
WBD	+ 0.8	NFLX

High negative correlations

AMC	- 0.53	ROKU
AMC	- 0.38	NFLX
AMC	- 0.37	DIS
NWSA	- 0.31	ROKU
NWS	- 0.17	ROKU
WBD	- 0.08	AMC

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
DIS	0.99	0.31	0.24	0.61	0.61	(1.12)	2.34	(1.38)	7.57
ROKU	2.51	0.01	0.03	0.13	4.07	(2.54)	5.67	(4.28)	29.20
NFLX	1.28	0.33	0.19	0.58	1.12	(1.46)	2.80	(2.33)	13.04
AMC	1.88	(0.24)	0.00	(0.08)	0.00	0.00	3.65	(3.94)	11.40
WBD	2.35	0.32	0.15	0.34	2.12	(2.83)	7.33	(3.45)	18.30
NWSA	0.88	(0.01)	(0.02)	0.10	1.22	(0.90)	1.73	(1.68)	6.51
NWS	0.90	0.06	0.03	0.19	1.12	(1.02)	1.77	(1.64)	6.61

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