FOX vs NWS: Correlation
Fox Corporation (Class B) (FOX) and News Corp (Class B) (NWS) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOX and NWS?
On 3 years of weekly data the FOX/NWS correlation comes out at 0.48, moderate. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. The 5-year figure is 0.49, and annualized covariance runs at 333.6 %².
Within FOX's tracked universe of 32 assets, NWS comes in at #9 by 3-year correlation. Over the last 12 months FOX came out ahead by 7.9 percentage points (+12.2% against +4.3%). On a rolling one-year basis the correlation drifted between 0.19 and 0.60, 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.
FOX vs NWS: side by side
| FOX (Fox Corporation (Class B)) | NWS (News Corp (Class B)) | |
|---|---|---|
| 1-year return | +12.2% | +4.3% |
| 5-year return | +88.7% | +67.8% |
| Volatility (ann.) | 28.5% | 24.5% |
| Beta vs S&P 500 | 0.58 | 0.77 |
| Max drawdown (3Y) | -34.1% | -26.8% |
| Market cap | $25.4B | $19.0B |
| P/E (trailing) | 16.2 | 34.3 |
| Dividend yield | 0.90% | 0.57% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | FOX | NWS |
|---|---|---|
| 2022 | -15.8% | -17.2% |
| 2023 | -1.2% | +41.0% |
| 2024 | +68.3% | +19.2% |
| 2025 | +43.4% | -2.0% |
| 2026 | -6.5% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOX and NWS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FOX and NWS?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.54 over the last year and 0.49 over 5 years.
Is NWS a good diversifier for FOX?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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/fox-vs-nws.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fox-vs-nws/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FOX correlations · NWS correlations
