FRSH vs NWSA: Correlation
Measured on weekly returns over the past three years, Freshworks Inc. (FRSH) and News Corp (Class A) (NWSA) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRSH and NWSA?
Over the past 3 years, FRSH and NWSA moved with a correlation of 0.51, which is moderate. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 583.6 %².
By 3-year correlation, NWSA places #15 of the 28 assets tracked against FRSH. Over the last 12 months NWSA came out ahead by 5.4 percentage points (+0.6% against +6.0%). One caveat on sizing: FRSH is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FRSH vs NWSA: side by side
| FRSH (Freshworks Inc.) | NWSA (News Corp (Class A)) | |
|---|---|---|
| 1-year return | +0.6% | +6.0% |
| 5-year return | -71.2% | +45.9% |
| Volatility (ann.) | 48.9% | 23.4% |
| Beta vs S&P 500 | 1.46 | 0.76 |
| Max drawdown (3Y) | -71.9% | -27.8% |
| Market cap | $3.6B | $16.8B |
| P/E (trailing) | 20.4 | 30.0 |
| Dividend yield | 0.00% | 0.65% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | FRSH | NWSA |
|---|---|---|
| 2022 | -44.0% | -17.6% |
| 2023 | +59.7% | +36.4% |
| 2024 | -31.2% | +13.0% |
| 2025 | -24.2% | -4.5% |
| 2026 | +11.8% | +19.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRSH and NWSA good diversifiers for each other?
To a limited degree. At 0.51 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 FRSH and NWSA?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.54 over the last year and 0.47 over 5 years.
Is NWSA a good diversifier for FRSH?
To a limited degree. At 0.51 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 0.51 mean?
On the −1 to +1 scale, 0.51 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/frsh-vs-nwsa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/frsh-vs-nwsa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FRSH correlations · NWSA correlations
