NXST vs SSP: Correlation
Measured on weekly returns over the past three years, Nexstar Media Group, Inc. (NXST) and E.W. Scripps Company (The) (SSP) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXST and SSP?
Over the past 3 years, NXST and SSP moved with a correlation of 0.45, which is moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.45 over 3. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 1589.6 %².
Within NXST's tracked universe of 13 assets, SSP comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SSP ahead by 46.8 points (-9.5% versus +37.3%). One caveat on sizing: SSP is 3.2 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.
NXST vs SSP: side by side
| NXST (Nexstar Media Group, Inc.) | SSP (E.W. Scripps Company (The)) | |
|---|---|---|
| 1-year return | -9.5% | +37.3% |
| 5-year return | +43.6% | -77.0% |
| Volatility (ann.) | 33.2% | 107.0% |
| Beta vs S&P 500 | 0.63 | 0.27 |
| Max drawdown (3Y) | -38.4% | -84.5% |
| Market cap | $5.5B | $0.3B |
| P/E (trailing) | 35.1 | – |
| Dividend yield | 4.01% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXST | SSP |
|---|---|---|
| 2022 | +18.4% | -31.8% |
| 2023 | -7.5% | -39.4% |
| 2024 | +5.0% | -72.3% |
| 2025 | +34.0% | +140.1% |
| 2026 | -9.0% | -20.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXST and SSP good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NXST and SSP?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.42 over the last year and 0.48 over 5 years.
Is SSP a good diversifier for NXST?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/nxst-vs-ssp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nxst-vs-ssp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NXST correlations · SSP correlations
