CARG vs NWS: Correlation
CarGurus, Inc. (CARG) and News Corp (Class B) (NWS) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARG and NWS?
Across a 3-year window, the weekly returns of CARG and NWS correlate at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.47) sits close to the 3-year figure. Stretching to 5 years gives 0.36, with an annualized covariance of 526.4 %².
NWS is one of the assets that tracks CARG most closely: it ranks #3 out of the 17 assets we track against CARG. Their 12-month results are close: +6.1% for CARG against +4.3% for NWS. Note the risk asymmetry: CARG runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CARG vs NWS: side by side
| CARG (CarGurus, Inc.) | NWS (News Corp (Class B)) | |
|---|---|---|
| 1-year return | +6.1% | +4.3% |
| 5-year return | +17.1% | +67.8% |
| Volatility (ann.) | 39.4% | 24.5% |
| Beta vs S&P 500 | 1.12 | 0.77 |
| Max drawdown (3Y) | -37.9% | -26.8% |
| Market cap | $3.2B | $19.0B |
| P/E (trailing) | 18.6 | 34.3 |
| Dividend yield | 0.00% | 0.57% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | CARG | NWS |
|---|---|---|
| 2022 | -58.4% | -17.2% |
| 2023 | +72.4% | +41.0% |
| 2024 | +51.2% | +19.2% |
| 2025 | +5.0% | -2.0% |
| 2026 | -5.2% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARG and NWS good diversifiers for each other?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CARG and NWS?
The CARG/NWS correlation stands at 0.54 on a 3-year window (1 year: 0.47, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is NWS a good diversifier for CARG?
To a limited degree. At 0.54 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.54 mean?
A reading of 0.54 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/carg-vs-nws.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/carg-vs-nws/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CARG correlations · NWS correlations
