NWSA vs TKO: Correlation
How closely do News Corp (Class A) (NWSA) and TKO Group Holdings (TKO) trade together? Their weekly returns over three years give a correlation of 0.25, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWSA and TKO?
Across a 3-year window, the weekly returns of NWSA and TKO correlate at 0.25, weak. Lately the two have drifted apart, with the 1-year correlation at -0.09 versus 0.25 over 3 years. Stretching to 5 years gives 0.28, with an annualized covariance of 186.1 %².
By 3-year correlation, TKO places #32 of the 42 assets tracked against NWSA. Over the last 12 months NWSA came out ahead by 5.2 percentage points (+6.0% against +0.8%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.05 to 0.61.
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 TKO: side by side
| NWSA (News Corp (Class A)) | TKO (TKO Group Holdings) | |
|---|---|---|
| 1-year return | +6.0% | +0.8% |
| 5-year return | +45.9% | +281.8% |
| Volatility (ann.) | 23.4% | 32.1% |
| Beta vs S&P 500 | 0.76 | 0.70 |
| Max drawdown (3Y) | -27.8% | -34.8% |
| Market cap | $16.8B | $34.9B |
| P/E (trailing) | 30.0 | 65.8 |
| Dividend yield | 0.65% | 1.66% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | NWSA | TKO |
|---|---|---|
| 2022 | -17.6% | +39.9% |
| 2023 | +36.4% | +23.9% |
| 2024 | +13.0% | +74.2% |
| 2025 | -4.5% | +48.9% |
| 2026 | +19.9% | -11.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWSA and TKO good diversifiers for each other?
Reasonably. At 0.25, NWSA and TKO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NWSA and TKO?
The NWSA/TKO correlation stands at 0.25 on a 3-year window (1 year: -0.09, 5 years: 0.28), computed from weekly returns as of 2026-08-27.
Is TKO a good diversifier for NWSA?
Reasonably. At 0.25, NWSA and TKO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.25 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/nwsa-vs-tko.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nwsa-vs-tko/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NWSA correlations · TKO correlations
