DIS vs LYV: Correlation
How closely do Walt Disney Company (The) (DIS) and Live Nation Entertainment (LYV) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DIS and LYV?
Across a 3-year window, the weekly returns of DIS and LYV correlate at 0.38, moderate. The link has loosened recently: the 1-year correlation (0.24) runs below the 3-year figure (0.38). Stretching to 5 years gives 0.47, with an annualized covariance of 293.6 %².
Among the 37 assets we track against DIS, LYV ranks #17 by 3-year correlation. Correlation aside, the last 12 months split them widely, with LYV ahead by 17.3 points (-8.2% versus +9.1%). On a rolling one-year basis the correlation drifted between 0.21 and 0.53, a moderate band.
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.
DIS vs LYV: side by side
| DIS (Walt Disney Company (The)) | LYV (Live Nation Entertainment) | |
|---|---|---|
| 1-year return | -8.2% | +9.1% |
| 5-year return | -38.8% | +108.7% |
| Volatility (ann.) | 27.7% | 28.1% |
| Beta vs S&P 500 | 0.96 | 1.02 |
| Max drawdown (3Y) | -32.9% | -27.8% |
| Market cap | $184.4B | $42.1B |
| P/E (trailing) | 22.6 | – |
| Dividend yield | 1.37% | 0.00% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | DIS | LYV |
|---|---|---|
| 2022 | -43.9% | -41.7% |
| 2023 | +4.3% | +34.2% |
| 2024 | +24.4% | +38.4% |
| 2025 | +3.3% | +10.0% |
| 2026 | -5.4% | +26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DIS and LYV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DIS and LYV?
The DIS/LYV correlation stands at 0.38 on a 3-year window (1 year: 0.24, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is LYV a good diversifier for DIS?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: DIS correlations · LYV correlations
