LBTYB vs NWSA: Correlation
How closely do Liberty Global Ltd. - Class B (LBTYB) and News Corp (Class A) (NWSA) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LBTYB and NWSA?
Across a 3-year window, the weekly returns of LBTYB and NWSA correlate at -0.18, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.43) than the 3-year average (-0.18). Stretching to 5 years gives -0.05, with an annualized covariance of -237.8 %².
Among the 22 assets we track against LBTYB, NWSA ranks #10 by 3-year correlation. Twelve-month performance is nearly a tie, at +10.5% for LBTYB and +6.0% for NWSA. Risk is not evenly split, since LBTYB carries 2.5 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.
LBTYB vs NWSA: side by side
| LBTYB (Liberty Global Ltd. - Class B) | NWSA (News Corp (Class A)) | |
|---|---|---|
| 1-year return | +10.5% | +6.0% |
| 5-year return | -55.0% | +45.9% |
| Volatility (ann.) | 57.5% | 23.4% |
| Beta vs S&P 500 | 0.32 | 0.76 |
| Max drawdown (3Y) | -58.2% | -27.8% |
| Market cap | $4.4B | $16.8B |
| P/E (trailing) | – | 30.0 |
| Dividend yield | 0.00% | 0.65% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | LBTYB | NWSA |
|---|---|---|
| 2022 | -32.5% | -17.6% |
| 2023 | -6.3% | +36.4% |
| 2024 | -27.3% | +13.0% |
| 2025 | -8.7% | -4.5% |
| 2026 | +9.4% | +19.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LBTYB and NWSA good diversifiers for each other?
Yes. With a correlation of -0.18, LBTYB and NWSA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LBTYB and NWSA?
As of 2026-08-27, the correlation of weekly returns between LBTYB and NWSA is -0.18 over 3 years, -0.43 over 1 year and -0.05 over 5 years.
Is NWSA a good diversifier for LBTYB?
Yes. With a correlation of -0.18, LBTYB and NWSA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
A reading of -0.18 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/lbtyb-vs-nwsa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lbtyb-vs-nwsa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LBTYB correlations · NWSA correlations
