IT vs NWS: Correlation
Measured on weekly returns over the past three years, Gartner (IT) and News Corp (Class B) (NWS) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IT and NWS?
On 3 years of weekly data the IT/NWS correlation comes out at 0.49, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.65 versus 0.49 over 3 years. The 5-year figure is 0.48, and annualized covariance runs at 493.2 %².
By 3-year correlation, NWS places #17 of the 36 assets tracked against IT. Correlation aside, the last 12 months split them widely, with NWS ahead by 24.5 points (-20.2% versus +4.3%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.09 to 0.65. Risk is not evenly split, since IT carries 1.7 times the volatility of the other side.
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.
IT vs NWS: side by side
| IT (Gartner) | NWS (News Corp (Class B)) | |
|---|---|---|
| 1-year return | -20.2% | +4.3% |
| 5-year return | -36.0% | +67.8% |
| Volatility (ann.) | 40.6% | 24.5% |
| Beta vs S&P 500 | 0.92 | 0.77 |
| Max drawdown (3Y) | -77.2% | -26.8% |
| Market cap | $12.4B | $19.0B |
| P/E (trailing) | 17.4 | 34.3 |
| Dividend yield | 0.00% | 0.57% |
| Sector / category | Information Technology | Communication Services |
Year-by-year returns
| Year | IT | NWS |
|---|---|---|
| 2022 | +0.5% | -17.2% |
| 2023 | +34.2% | +41.0% |
| 2024 | +7.4% | +19.2% |
| 2025 | -47.9% | -2.0% |
| 2026 | -22.1% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IT and NWS good diversifiers for each other?
Reasonably. At 0.49, IT and NWS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IT and NWS?
As of 2026-08-27, the correlation of weekly returns between IT and NWS is 0.49 over 3 years, 0.65 over 1 year and 0.48 over 5 years.
Is NWS a good diversifier for IT?
Reasonably. At 0.49, IT and NWS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/it-vs-nws.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/it-vs-nws/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IT correlations · NWS correlations
