LBTYB vs LYV: Correlation
How closely do Liberty Global Ltd. - Class B (LBTYB) and Live Nation Entertainment (LYV) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LBTYB and LYV?
Over the past 3 years, LBTYB and LYV moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.22 lands near the 3-year figure. Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -278.9 %².
Among the 22 assets we track against LBTYB, LYV ranks #8 by 3-year correlation. Twelve-month performance is nearly a tie, at +10.5% for LBTYB and +9.1% for LYV. One caveat on sizing: LBTYB is 2.0 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.
LBTYB vs LYV: side by side
| LBTYB (Liberty Global Ltd. - Class B) | LYV (Live Nation Entertainment) | |
|---|---|---|
| 1-year return | +10.5% | +9.1% |
| 5-year return | -55.0% | +108.7% |
| Volatility (ann.) | 57.5% | 28.1% |
| Beta vs S&P 500 | 0.32 | 1.02 |
| Max drawdown (3Y) | -58.2% | -27.8% |
| Market cap | $4.4B | $42.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | LBTYB | LYV |
|---|---|---|
| 2022 | -32.5% | -41.7% |
| 2023 | -6.3% | +34.2% |
| 2024 | -27.3% | +38.4% |
| 2025 | -8.7% | +10.0% |
| 2026 | +9.4% | +26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LBTYB and LYV good diversifiers for each other?
Yes. With a correlation of -0.17, LBTYB and LYV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LBTYB and LYV?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.22 over the last year and -0.08 over 5 years.
Is LYV a good diversifier for LBTYB?
Yes. With a correlation of -0.17, LBTYB and LYV have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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/lbtyb-vs-lyv.json
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Related comparisons
Hubs: LBTYB correlations · LYV correlations
