LBTYB vs NWS: Correlation
How closely do Liberty Global Ltd. - Class B (LBTYB) and News Corp (Class B) (NWS) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LBTYB and NWS?
On 3 years of weekly data the LBTYB/NWS correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.42) runs below the 3-year figure (-0.21). The 5-year figure is -0.07, and annualized covariance runs at -293.7 %².
Among the 22 assets we track against LBTYB, NWS ranks #14 by 3-year correlation. The trailing year gives LBTYB the advantage: +10.5% versus +4.3%, a 6.2-point spread. Note the risk asymmetry: LBTYB runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 NWS: side by side
| LBTYB (Liberty Global Ltd. - Class B) | NWS (News Corp (Class B)) | |
|---|---|---|
| 1-year return | +10.5% | +4.3% |
| 5-year return | -55.0% | +67.8% |
| Volatility (ann.) | 57.5% | 24.5% |
| Beta vs S&P 500 | 0.32 | 0.77 |
| Max drawdown (3Y) | -58.2% | -26.8% |
| Market cap | $4.4B | $19.0B |
| P/E (trailing) | – | 34.3 |
| Dividend yield | 0.00% | 0.57% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | LBTYB | NWS |
|---|---|---|
| 2022 | -32.5% | -17.2% |
| 2023 | -6.3% | +41.0% |
| 2024 | -27.3% | +19.2% |
| 2025 | -8.7% | -2.0% |
| 2026 | +9.4% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LBTYB and NWS good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LBTYB and NWS?
As of 2026-08-27, the correlation of weekly returns between LBTYB and NWS is -0.21 over 3 years, -0.42 over 1 year and -0.07 over 5 years.
Is NWS a good diversifier for LBTYB?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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-nws.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lbtyb-vs-nws/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LBTYB correlations · NWS correlations
