BN vs NWSA: Correlation
Measured on weekly returns over the past three years, Brookfield Corporation Class A Limited Voting Shares (BN) and News Corp (Class A) (NWSA) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BN and NWSA?
Over the past 3 years, BN and NWSA moved with a correlation of 0.49, which is moderate. The past 12 months show a weaker link (0.30) than the 3-year average (0.49). Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 332.3 %².
Within BN's tracked universe of 32 assets, NWSA comes in at #24 by 3-year correlation. Over the last 12 months NWSA came out ahead by 10.5 percentage points (-4.5% against +6.0%).
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.
BN vs NWSA: side by side
| BN (Brookfield Corporation Class A Limited Voting Shares) | NWSA (News Corp (Class A)) | |
|---|---|---|
| 1-year return | -4.5% | +6.0% |
| 5-year return | +42.1% | +45.9% |
| Volatility (ann.) | 28.8% | 23.4% |
| Beta vs S&P 500 | 1.47 | 0.76 |
| Max drawdown (3Y) | -27.8% | -27.8% |
| Market cap | $92.5B | $16.8B |
| P/E (trailing) | 76.7 | 30.0 |
| Dividend yield | 0.62% | 0.65% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | BN | NWSA |
|---|---|---|
| 2022 | -34.6% | -17.6% |
| 2023 | +28.6% | +36.4% |
| 2024 | +44.2% | +13.0% |
| 2025 | +20.5% | -4.5% |
| 2026 | -9.4% | +19.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BN and NWSA good diversifiers for each other?
Reasonably. At 0.49, BN and NWSA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BN and NWSA?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.30 over the last year and 0.55 over 5 years.
Is NWSA a good diversifier for BN?
Reasonably. At 0.49, BN and NWSA 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/bn-vs-nwsa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bn-vs-nwsa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BN correlations · NWSA correlations
