NWSA vs SPGI: Correlation
How closely do News Corp (Class A) (NWSA) and S&P Global (SPGI) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWSA and SPGI?
On 3 years of weekly data the NWSA/SPGI correlation comes out at 0.53, moderate. Little has changed lately, as the 1-year reading of 0.55 lands near the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 307.4 %².
By 3-year correlation, SPGI places #7 of the 42 assets tracked against NWSA. Their recent paths diverged sharply: over the last 12 months NWSA outperformed by 21.6 percentage points (+6.0% for NWSA against -15.6% for SPGI). On a rolling one-year basis the correlation drifted between 0.20 and 0.65, a moderate band.
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 SPGI: side by side
| NWSA (News Corp (Class A)) | SPGI (S&P Global) | |
|---|---|---|
| 1-year return | +6.0% | -15.6% |
| 5-year return | +45.9% | +8.1% |
| Volatility (ann.) | 23.4% | 24.7% |
| Beta vs S&P 500 | 0.76 | 0.86 |
| Max drawdown (3Y) | -27.8% | -30.5% |
| Market cap | $16.8B | $128.4B |
| P/E (trailing) | 30.0 | 26.6 |
| Dividend yield | 0.65% | 0.88% |
| Sector / category | Communication Services | Financials |
Year-by-year returns
| Year | NWSA | SPGI |
|---|---|---|
| 2022 | -17.6% | -28.4% |
| 2023 | +36.4% | +32.8% |
| 2024 | +13.0% | +13.9% |
| 2025 | -4.5% | +5.7% |
| 2026 | +19.9% | -11.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWSA and SPGI good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NWSA and SPGI?
The NWSA/SPGI correlation stands at 0.53 on a 3-year window (1 year: 0.55, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is SPGI a good diversifier for NWSA?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: NWSA correlations · SPGI correlations
