NWS vs QTWO: Correlation
News Corp (Class B) (NWS) and Q2 Holdings, Inc. (QTWO) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWS and QTWO?
On 3 years of weekly data the NWS/QTWO correlation comes out at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. The 5-year figure is 0.49, and annualized covariance runs at 506.4 %².
By 3-year correlation, QTWO places #16 of the 37 assets tracked against NWS. Their recent paths diverged sharply: over the last 12 months NWS outperformed by 20.3 percentage points (+4.3% for NWS against -16.0% for QTWO). One caveat on sizing: QTWO is 1.7 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.
NWS vs QTWO: side by side
| NWS (News Corp (Class B)) | QTWO (Q2 Holdings, Inc.) | |
|---|---|---|
| 1-year return | +4.3% | -16.0% |
| 5-year return | +67.8% | -24.7% |
| Volatility (ann.) | 24.5% | 41.9% |
| Beta vs S&P 500 | 0.77 | 1.41 |
| Max drawdown (3Y) | -26.8% | -62.0% |
| Market cap | $19.0B | $4.1B |
| P/E (trailing) | 34.3 | 45.9 |
| Dividend yield | 0.57% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | NWS | QTWO |
|---|---|---|
| 2022 | -17.2% | -66.2% |
| 2023 | +41.0% | +61.6% |
| 2024 | +19.2% | +131.9% |
| 2025 | -2.0% | -28.3% |
| 2026 | +19.6% | -9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWS and QTWO good diversifiers for each other?
Reasonably. At 0.49, NWS and QTWO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NWS and QTWO?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.41 over the last year and 0.49 over 5 years.
Is QTWO a good diversifier for NWS?
Reasonably. At 0.49, NWS and QTWO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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/nws-vs-qtwo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nws-vs-qtwo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NWS correlations · QTWO correlations
