EXLS vs NWS: Correlation
How closely do ExlService Holdings, Inc. (EXLS) and News Corp (Class B) (NWS) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXLS and NWS?
Over the past 3 years, EXLS and NWS moved with a correlation of 0.55, which is moderate. Little has changed lately, as the 1-year reading of 0.63 lands near the 3-year figure. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 429.9 %².
Among the 47 assets we track against EXLS, NWS ranks #25 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NWS outperformed by 17.7 percentage points (-13.4% for EXLS 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.
EXLS vs NWS: side by side
| EXLS (ExlService Holdings, Inc.) | NWS (News Corp (Class B)) | |
|---|---|---|
| 1-year return | -13.4% | +4.3% |
| 5-year return | +55.2% | +67.8% |
| Volatility (ann.) | 31.7% | 24.5% |
| Beta vs S&P 500 | 0.77 | 0.77 |
| Max drawdown (3Y) | -51.3% | -26.8% |
| Market cap | $5.8B | $19.0B |
| P/E (trailing) | 23.7 | 34.3 |
| Dividend yield | 0.00% | 0.57% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | EXLS | NWS |
|---|---|---|
| 2022 | +17.0% | -17.2% |
| 2023 | -9.0% | +41.0% |
| 2024 | +43.9% | +19.2% |
| 2025 | -4.4% | -2.0% |
| 2026 | -10.0% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXLS and NWS good diversifiers for each other?
Only partially. A correlation of 0.55 means EXLS and NWS 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 EXLS and NWS?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.63 over the last year and 0.45 over 5 years.
Is NWS a good diversifier for EXLS?
Only partially. A correlation of 0.55 means EXLS and NWS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/exls-vs-nws.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/exls-vs-nws/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EXLS correlations · NWS correlations
