GOOG vs NWSA: Correlation
How closely do Alphabet Inc. (Class C) (GOOG) and News Corp (Class A) (NWSA) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOOG and NWSA?
On 3 years of weekly data the GOOG/NWSA correlation comes out at 0.27, weak. Little has changed lately, as the 1-year reading of 0.28 lands near the 3-year figure. The 5-year figure is 0.36, and annualized covariance runs at 193.3 %².
Within GOOG's tracked universe of 36 assets, NWSA comes in at #20 by 3-year correlation. The last year tells two different stories: GOOG led by 56.7 percentage points, +62.7% for GOOG against +6.0% for NWSA. The rolling one-year correlation moved between 0.12 and 0.56 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.
GOOG vs NWSA: side by side
| GOOG (Alphabet Inc. (Class C)) | NWSA (News Corp (Class A)) | |
|---|---|---|
| 1-year return | +62.7% | +6.0% |
| 5-year return | +134.2% | +45.9% |
| Volatility (ann.) | 31.1% | 23.4% |
| Beta vs S&P 500 | 1.20 | 0.76 |
| Max drawdown (3Y) | -29.4% | -27.8% |
| Market cap | $4,130.2B | $16.8B |
| P/E (trailing) | 17.0 | 30.0 |
| Dividend yield | 0.25% | 0.65% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | GOOG | NWSA |
|---|---|---|
| 2022 | -38.7% | -17.6% |
| 2023 | +58.8% | +36.4% |
| 2024 | +35.6% | +13.0% |
| 2025 | +65.4% | -4.5% |
| 2026 | +7.8% | +19.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GOOG and NWSA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GOOG and NWSA?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with 0.28 over the last year and 0.36 over 5 years.
Is NWSA a good diversifier for GOOG?
Yes, to a useful degree: a correlation of 0.27 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.27 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.
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Related comparisons
Hubs: GOOG correlations · NWSA correlations
