NWSA vs QTWO: Correlation
How closely do News Corp (Class A) (NWSA) and Q2 Holdings, Inc. (QTWO) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWSA and QTWO?
On 3 years of weekly data the NWSA/QTWO correlation comes out at 0.52, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 509.9 %².
Within NWSA's tracked universe of 42 assets, QTWO comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NWSA ahead by 22.0 points (+6.0% versus -16.0%). Risk is not evenly split, since QTWO carries 1.8 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.
NWSA vs QTWO: side by side
| NWSA (News Corp (Class A)) | QTWO (Q2 Holdings, Inc.) | |
|---|---|---|
| 1-year return | +6.0% | -16.0% |
| 5-year return | +45.9% | -24.7% |
| Volatility (ann.) | 23.4% | 41.9% |
| Beta vs S&P 500 | 0.76 | 1.41 |
| Max drawdown (3Y) | -27.8% | -62.0% |
| Market cap | $16.8B | $4.1B |
| P/E (trailing) | 30.0 | 45.9 |
| Dividend yield | 0.65% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | NWSA | QTWO |
|---|---|---|
| 2022 | -17.6% | -66.2% |
| 2023 | +36.4% | +61.6% |
| 2024 | +13.0% | +131.9% |
| 2025 | -4.5% | -28.3% |
| 2026 | +19.9% | -9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWSA and QTWO good diversifiers for each other?
Only partially. A correlation of 0.52 means NWSA and QTWO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NWSA and QTWO?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.43 over the last year and 0.51 over 5 years.
Is QTWO a good diversifier for NWSA?
Only partially. A correlation of 0.52 means NWSA and QTWO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
A reading of 0.52 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/nwsa-vs-qtwo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nwsa-vs-qtwo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NWSA correlations · QTWO correlations
