Newsmax Correlations

NMAX Stock

7.88 0.15 1.94%

The current 90-days correlation between Newsmax and Clear Channel Outdoor is 0.19 (i.e., Average diversification). The correlation of Newsmax 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.

Newsmax Correlation With Market

Weak diversification

The correlation between Newsmax and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newsmax and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Newsmax Stock

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

For more information on how to buy Newsmax Stock please use our How to Invest in Newsmax guide.

Moving together with Newsmax Stock

0.81	TSQ	Townsquare Media	Pair Corr
0.66	SXL	Southern Cross Media	Pair Corr
0.94	NEC	Nine Entertainment	Pair Corr

Moving against Newsmax Stock

0.85	RAY-A	Stingray Group	Pair Corr
0.81	PPERY	Bank Mandiri Persero	Pair Corr
0.68	IHRT	iHeartMedia Class	Pair Corr
0.67	SSP	E W Scripps	Pair Corr
0.64	EVC	Entravision Communications	Pair Corr
0.6	SBGI	Sinclair Broadcast	Pair Corr
0.44	AMCX	AMC Networks	Pair Corr
0.41	PPERF	Bank Mandiri Persero	Pair Corr
0.81	SHG	Shinhan Financial	Pair Corr
0.8	CASXF	Casa Minerals	Pair Corr
0.77	NRC	National Research Corp	Pair Corr
0.7	CTOWY	China TowerLimited	Pair Corr
0.69	ALB	Albemarle Corp	Pair Corr
0.67	PBCRY	Bank Central Asia	Pair Corr
0.66	KB	KB Financial Group	Pair Corr
0.51	SYF	Synchrony Financial	Pair Corr
0.49	PBCRF	PT Bank Central	Pair Corr
0.38	PTBRY	Bank Negara Indonesia	Pair Corr

Related Correlations Analysis

	CCO	GETY	CABO	NXDR	GRPN	DLX	SSTK	QNST	MAX	EEX
CCO		-0.78	-0.62	0.11	-0.64	0.74	-0.48	-0.12	0.7	-0.39	CCO
GETY	-0.78		0.88	0.03	0.86	-0.79	0.83	0.37	-0.73	0.54	GETY
CABO	-0.62	0.88		0.35	0.87	-0.55	0.64	0.65	-0.62	0.69	CABO
NXDR	0.11	0.03	0.35		0.1	0.4	-0.16	0.49	-0.02	0.39	NXDR
GRPN	-0.64	0.86	0.87	0.1		-0.67	0.68	0.58	-0.62	0.67	GRPN
DLX	0.74	-0.79	-0.55	0.4	-0.67		-0.79	0.01	0.65	-0.23	DLX
SSTK	-0.48	0.83	0.64	-0.16	0.68	-0.79		0.14	-0.59	0.4	SSTK
QNST	-0.12	0.37	0.65	0.49	0.58	0.01	0.14		0.02	0.51	QNST
MAX	0.7	-0.73	-0.62	-0.02	-0.62	0.65	-0.59	0.02		-0.6	MAX
EEX	-0.39	0.54	0.69	0.39	0.67	-0.23	0.4	0.51	-0.6		EEX
	CCO	GETY	CABO	NXDR	GRPN	DLX	SSTK	QNST	MAX	EEX

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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

CABO	+ 0.88	GETY
GRPN	+ 0.87	CABO
GRPN	+ 0.86	GETY
SSTK	+ 0.83	GETY
DLX	+ 0.74	CCO
MAX	+ 0.7	CCO

High negative correlations

SSTK	- 0.79	DLX
DLX	- 0.79	GETY
GETY	- 0.78	CCO
MAX	- 0.73	GETY
DLX	- 0.67	GRPN
GRPN	- 0.64	CCO

Risk-Adjusted Indicators

There is a big difference between Newsmax Stock performing well and Newsmax 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 Newsmax'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
CCO	2.61	0.39	0.16	0.25	2.22	(3.49)	6.40	(4.44)	25.90
GETY	3.42	(0.64)	0.00	(0.30)	0.00	0.00	7.09	(7.35)	22.29
CABO	2.83	(0.86)	0.00	(0.36)	0.00	0.00	6.35	(6.97)	14.71
NXDR	3.21	(0.02)	0.01	0.05	3.80	(4.04)	8.06	(5.73)	40.31
GRPN	2.90	(0.53)	0.00	(0.16)	0.00	0.00	5.13	(7.67)	18.61
DLX	1.49	0.20	0.11	0.33	1.54	(1.79)	2.89	(2.39)	18.48
SSTK	2.69	(0.21)	0.00	(0.04)	0.00	0.00	6.03	(4.66)	20.80
QNST	1.67	(0.20)	0.00	(0.08)	0.00	0.00	4.50	(3.37)	12.47
MAX	2.11	0.04	0.02	0.09	2.42	(2.35)	6.39	(3.57)	15.83
EEX	2.81	(0.06)	0.00	(0.05)	0.00	0.00	5.90	(6.67)	47.51

Newsmax Corporate Management

Jim Tremblay	Chief Sales	Profile
Laura Vail	Vice Marketing	Profile
Andy Biggers	Senior Distribution	Profile
Darryle Burnham	Chief Officer	Profile

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