Saga Communications Correlations

SGA Stock

USD 13.19 0.57 4.52%

The current 90-days correlation between Saga Communications and Emmis Communications Corp is -0.02 (i.e., Good diversification). The correlation of Saga Communications 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.

Saga Communications Correlation With Market

Modest diversification

The correlation between Saga Communications and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Saga Communications and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Saga Communications. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

For information on how to trade Saga Stock refer to our How to Trade Saga Stock guide.

Moving together with Saga Stock

0.68	DRCT	Direct Digital Holdings	Pair Corr
0.89	LILAK	Liberty Latin America	Pair Corr

Moving against Saga Stock

0.86	DIS	Walt Disney	Pair Corr
0.86	FOX	Fox Corp Class	Pair Corr
0.83	FOXA	Fox Corp Class	Pair Corr
0.8	CNK	Cinemark Holdings	Pair Corr
0.77	WBD	Warner Bros Discovery Aggressive Push	Pair Corr
0.73	EVC	Entravision Communications	Pair Corr
0.72	PSO	Pearson PLC ADR	Pair Corr
0.67	SE	Sea	Pair Corr
0.63	ANGHW	Anghami Warrants	Pair Corr
0.56	WLY	John Wiley Sons	Pair Corr
0.44	EDR	Endeavor Group Holdings	Pair Corr
0.32	WLYB	John Wiley Sons	Pair Corr
0.83	EA	Electronic Arts	Pair Corr
0.76	Z	Zillow Group Class	Pair Corr
0.75	IHRT	iHeartMedia Class	Pair Corr
0.75	ZG	Zillow Group	Pair Corr
0.74	LLYVA	Liberty Media	Pair Corr
0.73	LLYVK	Liberty Media	Pair Corr
0.73	CHTR	Charter Communications	Pair Corr
0.73	DJCO	Daily Journal Corp	Pair Corr
0.72	IMAX	Imax Corp	Pair Corr
0.67	FWONK	Liberty Media	Pair Corr
0.65	T	ATT Inc Aggressive Push	Pair Corr
0.64	EB	Eventbrite Class A	Pair Corr

Related Correlations Analysis

	IHRT	EMMS	BBGI	LSXMB	LSXMA	LPTV	LSXMK	CMLS	SALM
IHRT		0.36	-0.48	0.6	0.5	-0.8	0.5	-0.85	-0.59	IHRT
EMMS	0.36		0.39	0.1	-0.19	-0.42	-0.2	-0.2	-0.23	EMMS
BBGI	-0.48	0.39		-0.46	-0.59	0.42	-0.61	0.58	0.25	BBGI
LSXMB	0.6	0.1	-0.46		0.82	-0.66	0.82	-0.57	-0.69	LSXMB
LSXMA	0.5	-0.19	-0.59	0.82		-0.54	1.0	-0.56	-0.57	LSXMA
LPTV	-0.8	-0.42	0.42	-0.66	-0.54		-0.54	0.82	0.69	LPTV
LSXMK	0.5	-0.2	-0.61	0.82	1.0	-0.54		-0.56	-0.57	LSXMK
CMLS	-0.85	-0.2	0.58	-0.57	-0.56	0.82	-0.56		0.66	CMLS
SALM	-0.59	-0.23	0.25	-0.69	-0.57	0.69	-0.57	0.66		SALM
	IHRT	EMMS	BBGI	LSXMB	LSXMA	LPTV	LSXMK	CMLS	SALM

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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

LSXMK	+ 1.0	LSXMA
LSXMA	+ 0.82	LSXMB
LSXMK	+ 0.82	LSXMB
CMLS	+ 0.82	LPTV
SALM	+ 0.69	LPTV
SALM	+ 0.66	CMLS

High negative correlations

CMLS	- 0.85	IHRT
LPTV	- 0.8	IHRT
SALM	- 0.69	LSXMB
LPTV	- 0.66	LSXMB
LSXMK	- 0.61	BBGI
LSXMA	- 0.59	BBGI

Risk-Adjusted Indicators

There is a big difference between Saga Stock performing well and Saga Communications 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 Saga Communications' 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
IHRT	5.04	0.88	0.16	3.24	4.21	(6.62)	12.67	(6.91)	30.98
EMMS	2.06	0.59	0.00	(1.53)	0.00	0.00	6.33	(1.25)	51.85
BBGI	3.18	(0.59)	0.00	1.28	0.00	0.00	5.40	(8.00)	29.56
LSXMB	1.05	0.14	0.00	(0.72)	2.02	(2.44)	3.74	(1.60)	20.01
LSXMA	1.45	0.11	(0.02)	(0.35)	1.81	(1.46)	2.87	(2.99)	6.62
LPTV	9.23	(1.17)	0.00	(0.89)	0.00	0.00	16.67	(25.00)	93.46
LSXMK	1.42	0.12	(0.01)	(0.42)	1.75	(1.44)	2.96	(2.90)	6.73
CMLS	2.95	(1.17)	0.00	(5.57)	0.00	0.00	4.62	(6.58)	26.58
SALM	1.95	(0.12)	0.00	(1.31)	0.00	0.00	4.26	(5.05)	12.48

Saga Communications Corporate Management

Warren Lada	Executive VP of Operations	Profile
Catherine Bobinski	Chief Accounting Officer, Sr. VP of Fin. and Corporate Controller	Profile
Katherine Semivan	VP Secretary	Profile
Tracy Cleeton	Chief Officer	Profile
Annette Calcaterra	Vice Resources	Profile
Wayne Leland	Senior Operations	Profile

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