ASG vs NWS: Correlation
Liberty All-Star Growth Fund, Inc. (ASG) and News Corp (Class B) (NWS) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASG and NWS?
On 3 years of weekly data the ASG/NWS correlation comes out at 0.49, moderate. The link has loosened recently: the 1-year correlation (0.24) runs below the 3-year figure (0.49). The 5-year figure is 0.53, and annualized covariance runs at 220.8 %².
Within ASG's tracked universe of 52 assets, NWS comes in at #41 by 3-year correlation. Neither side won the trailing year by much: +3.3% against +4.3%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ASG vs NWS: side by side
| ASG (Liberty All-Star Growth Fund, Inc.) | NWS (News Corp (Class B)) | |
|---|---|---|
| 1-year return | +3.3% | +4.3% |
| 5-year return | -5.6% | +67.8% |
| Volatility (ann.) | 18.3% | 24.5% |
| Beta vs S&P 500 | 1.12 | 0.77 |
| Max drawdown (3Y) | -25.3% | -26.8% |
| Market cap | $0.3B | $19.0B |
| P/E (trailing) | 23.9 | 34.3 |
| Dividend yield | 8.76% | 0.57% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | ASG | NWS |
|---|---|---|
| 2022 | -40.9% | -17.2% |
| 2023 | +16.2% | +41.0% |
| 2024 | +16.8% | +19.2% |
| 2025 | +2.2% | -2.0% |
| 2026 | +6.0% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASG and NWS good diversifiers for each other?
Reasonably. At 0.49, ASG and NWS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ASG and NWS?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.24 over the last year and 0.53 over 5 years.
Is NWS a good diversifier for ASG?
Reasonably. At 0.49, ASG and NWS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asg-vs-nws.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/asg-vs-nws/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASG correlations · NWS correlations
