News Corp Correlations

NWSA Stock

USD 29.49 0.05 0.17%

The current 90-days correlation between News Corp A and Liberty Media is 0.34 (i.e., 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.

News Corp Correlation With Market

Very weak diversification

The correlation between News Corp A and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding News Corp A and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in News Corp 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 state.

Moving together with News Stock

0.78	CNK	Cinemark Holdings	Pair Corr
0.65	DIS	Walt Disney	Pair Corr
0.87	PSO	Pearson PLC ADR	Pair Corr
0.9	CHTR	Charter Communications	Pair Corr
0.87	DJCO	Daily Journal Corp	Pair Corr
0.91	EA	Electronic Arts	Pair Corr
0.91	EB	Eventbrite Class A	Pair Corr
0.62	OB	Outbrain	Pair Corr
0.75	ZD	Ziff Davis	Pair Corr

Moving against News Stock

0.39	WIMI	WiMi Hologram Cloud	Pair Corr
0.32	IQ	iQIYI Inc	Pair Corr
0.31	DRCT	Direct Digital Holdings	Pair Corr
0.79	TU	Telus Corp	Pair Corr
0.76	TC	TuanChe ADR	Pair Corr
0.62	VZ	Verizon Communications Aggressive Push	Pair Corr
0.61	WWRL	World Wireless Commu	Pair Corr
0.6	FENG	Phoenix New Media	Pair Corr
0.56	DLPN	Dolphin Entertainment	Pair Corr
0.45	CELJF	Cellcom Israel	Pair Corr
0.38	SBSAA	Spanish Broadcasting Earnings Call This Week	Pair Corr
0.36	SY	So Young International	Pair Corr

Related Correlations Analysis

	MCS	FWONA	WMG	FOX	NWS	PARAA	FWONK	BATRA	BATRK	RDIB
MCS		0.84	0.77	0.92	0.87	0.07	0.84	-0.44	-0.28	-0.68	MCS
FWONA	0.84		0.79	0.8	0.72	0.07	0.97	-0.4	-0.27	-0.69	FWONA
WMG	0.77	0.79		0.72	0.54	-0.12	0.72	-0.64	-0.51	-0.82	WMG
FOX	0.92	0.8	0.72		0.92	0.23	0.85	-0.39	-0.2	-0.63	FOX
NWS	0.87	0.72	0.54	0.92		0.36	0.8	-0.11	0.09	-0.39	NWS
PARAA	0.07	0.07	-0.12	0.23	0.36		0.2	0.35	0.46	0.26	PARAA
FWONK	0.84	0.97	0.72	0.85	0.8	0.2		-0.28	-0.12	-0.62	FWONK
BATRA	-0.44	-0.4	-0.64	-0.39	-0.11	0.35	-0.28		0.96	0.76	BATRA
BATRK	-0.28	-0.27	-0.51	-0.2	0.09	0.46	-0.12	0.96		0.68	BATRK
RDIB	-0.68	-0.69	-0.82	-0.63	-0.39	0.26	-0.62	0.76	0.68		RDIB
	MCS	FWONA	WMG	FOX	NWS	PARAA	FWONK	BATRA	BATRK	RDIB

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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

FWONK	+ 0.97	FWONA
BATRK	+ 0.96	BATRA
FOX	+ 0.92	MCS
NWS	+ 0.92	FOX
NWS	+ 0.87	MCS
FWONK	+ 0.85	FOX

High negative correlations

RDIB	- 0.82	WMG
RDIB	- 0.69	FWONA
RDIB	- 0.68	MCS
BATRA	- 0.64	WMG
RDIB	- 0.63	FOX
RDIB	- 0.62	FWONK

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
MCS	1.41	0.66	0.55	1.23	0.23	(1.83)	4.33	(1.58)	12.63
FWONA	1.10	0.04	0.02	0.16	1.39	(1.14)	2.10	(1.69)	8.37
WMG	0.89	0.13	0.02	0.66	1.66	(0.92)	2.15	(2.03)	11.14
FOX	0.88	0.17	0.13	0.39	0.75	(1.07)	2.71	(1.15)	7.28
NWS	0.90	0.06	0.03	0.19	1.12	(1.02)	1.77	(1.64)	6.61
PARAA	0.71	(0.12)	0.00	(0.36)	0.00	0.00	1.28	(1.28)	7.80
FWONK	1.10	0.01	0.00	0.14	1.27	(1.17)	2.25	(1.68)	9.14
BATRA	0.91	(0.21)	0.00	(0.26)	0.00	0.00	1.45	(1.98)	5.15
BATRK	1.03	(0.19)	0.00	(0.18)	0.00	0.00	1.80	(2.35)	4.84
RDIB	4.12	(0.67)	0.00	(1.28)	0.00	0.00	7.76	(8.62)	37.87

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

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