CARG vs NWSA: Correlation
CarGurus, Inc. (CARG) and News Corp (Class A) (NWSA) 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 NWSA?
Across a 3-year window, the weekly returns of CARG and NWSA correlate at 0.54, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Stretching to 5 years gives 0.38, with an annualized covariance of 493.9 %².
Within CARG's tracked universe of 17 assets, NWSA comes in at #4 by 3-year correlation. Twelve-month performance is nearly a tie, at +6.1% for CARG and +6.0% for NWSA. One caveat on sizing: CARG is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 NWSA: side by side
| CARG (CarGurus, Inc.) | NWSA (News Corp (Class A)) | |
|---|---|---|
| 1-year return | +6.1% | +6.0% |
| 5-year return | +17.1% | +45.9% |
| Volatility (ann.) | 39.4% | 23.4% |
| Beta vs S&P 500 | 1.12 | 0.76 |
| Max drawdown (3Y) | -37.9% | -27.8% |
| Market cap | $3.2B | $16.8B |
| P/E (trailing) | 18.6 | 30.0 |
| Dividend yield | 0.00% | 0.65% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | CARG | NWSA |
|---|---|---|
| 2022 | -58.4% | -17.6% |
| 2023 | +72.4% | +36.4% |
| 2024 | +51.2% | +13.0% |
| 2025 | +5.0% | -4.5% |
| 2026 | -5.2% | +19.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARG and NWSA good diversifiers for each other?
Only partially. A correlation of 0.54 means CARG and NWSA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CARG and NWSA?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.46 over the last year and 0.38 over 5 years.
Is NWSA a good diversifier for CARG?
Only partially. A correlation of 0.54 means CARG and NWSA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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-nwsa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/carg-vs-nwsa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CARG correlations · NWSA correlations
