NWSA vs XLC: Correlation
News Corp (Class A) (NWSA) and Communication Services Select Sector SPDR Fund (XLC) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWSA and XLC?
On 3 years of weekly data the NWSA/XLC correlation comes out at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. The 5-year figure is 0.60, and annualized covariance runs at 206.8 %².
In NWSA's tracked universe of 42 assets, XLC sits right near the top at #2. Their 12-month results are close: +6.0% for NWSA against +1.5% for XLC. On a rolling one-year basis the correlation drifted between 0.28 and 0.76, 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 XLC: side by side
| NWSA (News Corp (Class A)) | XLC (Communication Services Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +6.0% | +1.5% |
| 5-year return | +45.9% | +37.5% |
| Volatility (ann.) | 23.4% | 16.0% |
| Beta vs S&P 500 | 0.76 | 0.90 |
| Max drawdown (3Y) | -27.8% | -18.0% |
| Market cap | $16.8B | – |
| P/E (trailing) | 30.0 | – |
| Dividend yield | 0.65% | 1.32% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $21.7B |
| Sector / category | Communication Services | Sector ETF |
On the fund side, XLC sits in the Communications category at State Street Investment Management, with $21.7B under management, 24 holdings, a 0.08% expense ratio, a 1.32% trailing dividend yield.
Year-by-year returns
| Year | NWSA | XLC |
|---|---|---|
| 2022 | -17.6% | -37.6% |
| 2023 | +36.4% | +52.8% |
| 2024 | +13.0% | +34.7% |
| 2025 | -4.5% | +23.1% |
| 2026 | +19.9% | -4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
NWSA represents 2.04% of XLC's portfolio, so part of any move in XLC is NWSA itself, and the correlation between them is partly mechanical.
Are NWSA and XLC good diversifiers for each other?
To a limited degree. At 0.55 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 XLC?
As of 2026-08-27, the correlation of weekly returns between NWSA and XLC is 0.55 over 3 years, 0.48 over 1 year and 0.60 over 5 years.
Is XLC a good diversifier for NWSA?
To a limited degree. At 0.55 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 0.55 mean?
A reading of 0.55 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-xlc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nwsa-vs-xlc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NWSA correlations · XLC correlations
