EXLS vs NWSA: Correlation
How closely do ExlService Holdings, Inc. (EXLS) and News Corp (Class A) (NWSA) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXLS and NWSA?
Across a 3-year window, the weekly returns of EXLS and NWSA correlate at 0.54, moderate. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 402.7 %².
By 3-year correlation, NWSA places #28 of the 47 assets tracked against EXLS. Correlation aside, the last 12 months split them widely, with NWSA ahead by 19.4 points (-13.4% versus +6.0%).
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 NWSA: side by side
| EXLS (ExlService Holdings, Inc.) | NWSA (News Corp (Class A)) | |
|---|---|---|
| 1-year return | -13.4% | +6.0% |
| 5-year return | +55.2% | +45.9% |
| Volatility (ann.) | 31.7% | 23.4% |
| Beta vs S&P 500 | 0.77 | 0.76 |
| Max drawdown (3Y) | -51.3% | -27.8% |
| Market cap | $5.8B | $16.8B |
| P/E (trailing) | 23.7 | 30.0 |
| Dividend yield | 0.00% | 0.65% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | EXLS | NWSA |
|---|---|---|
| 2022 | +17.0% | -17.6% |
| 2023 | -9.0% | +36.4% |
| 2024 | +43.9% | +13.0% |
| 2025 | -4.4% | -4.5% |
| 2026 | -10.0% | +19.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXLS and NWSA good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EXLS and NWSA?
As of 2026-08-27, the correlation of weekly returns between EXLS and NWSA is 0.54 over 3 years, 0.60 over 1 year and 0.45 over 5 years.
Is NWSA a good diversifier for EXLS?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
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/exls-vs-nwsa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/exls-vs-nwsa/)
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Related comparisons
Hubs: EXLS correlations · NWSA correlations
