FOXA vs NWS: Correlation
Measured on weekly returns over the past three years, Fox Corporation (Class A) (FOXA) and News Corp (Class B) (NWS) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOXA and NWS?
Across a 3-year window, the weekly returns of FOXA and NWS correlate at 0.46, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 328.4 %².
By 3-year correlation, NWS places #10 of the 33 assets tracked against FOXA. On 12-month performance FOXA holds a 9.7-point edge, +14.0% against +4.3%. The rolling one-year correlation moved between 0.23 and 0.59 over the past three years, a moderate range.
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 NWS: side by side
| FOXA (Fox Corporation (Class A)) | NWS (News Corp (Class B)) | |
|---|---|---|
| 1-year return | +14.0% | +4.3% |
| 5-year return | +93.4% | +67.8% |
| Volatility (ann.) | 29.3% | 24.5% |
| Beta vs S&P 500 | 0.56 | 0.77 |
| Max drawdown (3Y) | -35.6% | -26.8% |
| Market cap | $28.3B | $19.0B |
| P/E (trailing) | 18.1 | 34.3 |
| Dividend yield | 0.80% | 0.57% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | FOXA | NWS |
|---|---|---|
| 2022 | -16.6% | -17.2% |
| 2023 | -0.8% | +41.0% |
| 2024 | +66.3% | +19.2% |
| 2025 | +51.8% | -2.0% |
| 2026 | -7.6% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOXA and NWS good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FOXA and NWS?
The FOXA/NWS correlation stands at 0.46 on a 3-year window (1 year: 0.53, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is NWS a good diversifier for FOXA?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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-nws.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/foxa-vs-nws/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FOXA correlations · NWS correlations
