FOXA vs NMFC: Correlation
Measured on weekly returns over the past three years, Fox Corporation (Class A) (FOXA) and New Mountain Finance Corporation (NMFC) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOXA and NMFC?
Over the past 3 years, FOXA and NMFC moved with a correlation of 0.47, which is moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 274.3 %².
By 3-year correlation, NMFC places #8 of the 33 assets tracked against FOXA. Their recent paths diverged sharply: over the last 12 months FOXA outperformed by 30.1 percentage points (+14.0% for FOXA against -16.1% for NMFC).
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.
FOXA vs NMFC: side by side
| FOXA (Fox Corporation (Class A)) | NMFC (New Mountain Finance Corporation) | |
|---|---|---|
| 1-year return | +14.0% | -16.1% |
| 5-year return | +93.4% | +1.4% |
| Volatility (ann.) | 29.3% | 19.7% |
| Beta vs S&P 500 | 0.56 | 0.53 |
| Max drawdown (3Y) | -35.6% | -30.6% |
| Market cap | $28.3B | $0.7B |
| P/E (trailing) | 18.1 | – |
| Dividend yield | 0.80% | 15.98% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | FOXA | NMFC |
|---|---|---|
| 2022 | -16.6% | -0.6% |
| 2023 | -0.8% | +15.8% |
| 2024 | +66.3% | -0.9% |
| 2025 | +51.8% | -7.2% |
| 2026 | -7.6% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOXA and NMFC good diversifiers for each other?
Reasonably. At 0.47, FOXA and NMFC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FOXA and NMFC?
As of 2026-08-27, the correlation of weekly returns between FOXA and NMFC is 0.47 over 3 years, 0.46 over 1 year and 0.43 over 5 years.
Is NMFC a good diversifier for FOXA?
Reasonably. At 0.47, FOXA and NMFC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/foxa-vs-nmfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/foxa-vs-nmfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FOXA correlations · NMFC correlations
