FOXA vs NWSA: Correlation
Measured on weekly returns over the past three years, Fox Corporation (Class A) (FOXA) and News Corp (Class A) (NWSA) 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 NWSA?
On 3 years of weekly data the FOXA/NWSA correlation comes out at 0.46, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.46 over 3. The 5-year figure is 0.47, and annualized covariance runs at 317.0 %².
Among the 33 assets we track against FOXA, NWSA ranks #11 by 3-year correlation. Over the last 12 months FOXA came out ahead by 8.0 percentage points (+14.0% against +6.0%). The rolling one-year correlation moved between 0.21 and 0.57 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 NWSA: side by side
| FOXA (Fox Corporation (Class A)) | NWSA (News Corp (Class A)) | |
|---|---|---|
| 1-year return | +14.0% | +6.0% |
| 5-year return | +93.4% | +45.9% |
| Volatility (ann.) | 29.3% | 23.4% |
| Beta vs S&P 500 | 0.56 | 0.76 |
| Max drawdown (3Y) | -35.6% | -27.8% |
| Market cap | $28.3B | $16.8B |
| P/E (trailing) | 18.1 | 30.0 |
| Dividend yield | 0.80% | 0.65% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | FOXA | NWSA |
|---|---|---|
| 2022 | -16.6% | -17.6% |
| 2023 | -0.8% | +36.4% |
| 2024 | +66.3% | +13.0% |
| 2025 | +51.8% | -4.5% |
| 2026 | -7.6% | +19.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOXA and NWSA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FOXA and NWSA?
As of 2026-08-27, the correlation of weekly returns between FOXA and NWSA is 0.46 over 3 years, 0.50 over 1 year and 0.47 over 5 years.
Is NWSA a good diversifier for FOXA?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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/foxa-vs-nwsa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/foxa-vs-nwsa/)
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Related comparisons
Hubs: FOXA correlations · NWSA correlations
