FOXA vs PNNT: Correlation
How closely do Fox Corporation (Class A) (FOXA) and PennantPark Investment Corporation (PNNT) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOXA and PNNT?
Across a 3-year window, the weekly returns of FOXA and PNNT correlate at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 316.4 %².
Among the 33 assets we track against FOXA, PNNT ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FOXA outperformed by 50.4 percentage points (+14.0% for FOXA against -36.4% for PNNT).
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 PNNT: side by side
| FOXA (Fox Corporation (Class A)) | PNNT (PennantPark Investment Corporation) | |
|---|---|---|
| 1-year return | +14.0% | -36.4% |
| 5-year return | +93.4% | +13.8% |
| Volatility (ann.) | 29.3% | 21.6% |
| Beta vs S&P 500 | 0.56 | 0.61 |
| Max drawdown (3Y) | -35.6% | -47.6% |
| Market cap | $28.3B | $0.2B |
| P/E (trailing) | 18.1 | 24.9 |
| Dividend yield | 0.80% | 21.28% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | FOXA | PNNT |
|---|---|---|
| 2022 | -16.6% | -8.9% |
| 2023 | -0.8% | +37.3% |
| 2024 | +66.3% | +16.6% |
| 2025 | +51.8% | -3.0% |
| 2026 | -7.6% | -27.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOXA and PNNT good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FOXA and PNNT?
As of 2026-08-27, the correlation of weekly returns between FOXA and PNNT is 0.50 over 3 years, 0.57 over 1 year and 0.46 over 5 years.
Is PNNT a good diversifier for FOXA?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 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-pnnt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/foxa-vs-pnnt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FOXA correlations · PNNT correlations
