CRVL vs NWS: Correlation
Measured on weekly returns over the past three years, CorVel Corp. (CRVL) and News Corp (Class B) (NWS) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRVL and NWS?
Over the past 3 years, CRVL and NWS moved with a correlation of 0.54, which is moderate. Recent behaviour matches the longer record: 0.63 over 1 year against 0.54 over 3. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 451.3 %².
Among the 16 assets we track against CRVL, NWS ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NWS outperformed by 27.3 percentage points (-23.0% for CRVL against +4.3% for NWS).
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.
CRVL vs NWS: side by side
| CRVL (CorVel Corp.) | NWS (News Corp (Class B)) | |
|---|---|---|
| 1-year return | -23.0% | +4.3% |
| 5-year return | +27.9% | +67.8% |
| Volatility (ann.) | 34.0% | 24.5% |
| Beta vs S&P 500 | 0.68 | 0.77 |
| Max drawdown (3Y) | -64.2% | -26.8% |
| Market cap | $3.5B | $19.0B |
| P/E (trailing) | 31.3 | 34.3 |
| Dividend yield | 0.00% | 0.57% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | CRVL | NWS |
|---|---|---|
| 2022 | -30.1% | -17.2% |
| 2023 | +70.1% | +41.0% |
| 2024 | +35.0% | +19.2% |
| 2025 | -39.2% | -2.0% |
| 2026 | +2.6% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRVL 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 CRVL and NWS?
The CRVL/NWS correlation stands at 0.54 on a 3-year window (1 year: 0.63, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is NWS a good diversifier for CRVL?
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?
On the −1 to +1 scale, 0.54 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crvl-vs-nws.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/crvl-vs-nws/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRVL correlations · NWS correlations
