NWS vs OMC: Correlation
News Corp (Class B) (NWS) and Omnicom Group (OMC) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWS and OMC?
Over the past 3 years, NWS and OMC moved with a correlation of 0.40, which is moderate. The relationship has been stable: the 1-year correlation (0.39) sits close to the 3-year figure. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 277.2 %².
Within NWS's tracked universe of 37 assets, OMC comes in at #22 by 3-year correlation. On 12-month performance OMC holds a 12.2-point edge, +4.3% against +16.5%. Across three years, the rolling one-year figure varied moderately, from 0.26 to 0.58.
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.
NWS vs OMC: side by side
| NWS (News Corp (Class B)) | OMC (Omnicom Group) | |
|---|---|---|
| 1-year return | +4.3% | +16.5% |
| 5-year return | +67.8% | +45.6% |
| Volatility (ann.) | 24.5% | 28.0% |
| Beta vs S&P 500 | 0.77 | 0.76 |
| Max drawdown (3Y) | -26.8% | -33.3% |
| Market cap | $19.0B | $24.1B |
| P/E (trailing) | 34.3 | 237.5 |
| Dividend yield | 0.57% | 3.53% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | NWS | OMC |
|---|---|---|
| 2022 | -17.2% | +15.7% |
| 2023 | +41.0% | +9.6% |
| 2024 | +19.2% | +2.5% |
| 2025 | -2.0% | -2.6% |
| 2026 | +19.6% | +11.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWS and OMC good diversifiers for each other?
Reasonably. At 0.40, NWS and OMC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NWS and OMC?
The NWS/OMC correlation stands at 0.40 on a 3-year window (1 year: 0.39, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is OMC a good diversifier for NWS?
Reasonably. At 0.40, NWS and OMC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nws-vs-omc.json
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Related comparisons
Hubs: NWS correlations · OMC correlations
