Nexstar Broadcasting Correlations

NXST Stock

USD 205.79 2.83 1.39%

The current 90-days correlation between Nexstar Broadcasting and Sinclair Broadcast Group is 0.11 (i.e., Average diversification). The correlation of Nexstar Broadcasting is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Nexstar Broadcasting Correlation With Market

Very weak diversification

The correlation between Nexstar Broadcasting Group and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexstar Broadcasting Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nexstar Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nexstar Broadcasting Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Nexstar Stock

0.82	IQ	iQIYI Inc Aggressive Push	Pair Corr
0.66	SE	Sea	Pair Corr
0.64	TV	Grupo Televisa SAB	Pair Corr
0.62	VSME	VS Media Holdings	Pair Corr
0.81	WIMI	WiMi Hologram Cloud	Pair Corr
0.65	FLNT	Fluent Inc	Pair Corr
0.69	EVC	Entravision Communications	Pair Corr
0.89	GTN	Gray Television	Pair Corr
0.81	IAS	Integral Ad Science	Pair Corr
0.9	IPG	Interpublic Group	Pair Corr
0.91	LYV	Live Nation Entertainment	Pair Corr
0.93	WMG	Warner Music Group	Pair Corr
0.69	SWAGW	Software Acquisition	Pair Corr
0.71	MGNI	Magnite	Pair Corr
0.84	QMMM	QMMM Holdings Limited Trending	Pair Corr

Moving against Nexstar Stock

0.76	BOC	Boston Omaha Corp	Pair Corr
0.76	DUO	Fangdd Network Group	Pair Corr
0.65	DRCT	Direct Digital Holdings	Pair Corr
0.44	WLYB	John Wiley Sons Earnings Call Tomorrow	Pair Corr
0.39	CHR	Cheer Holding	Pair Corr
0.92	KUKE	Kuke Music Holding	Pair Corr
0.83	WPP	WPP PLC ADR	Pair Corr
0.7	MCS	Marcus	Pair Corr
0.39	CMCSA	Comcast Corp	Pair Corr
0.83	NCMI	National CineMedia	Pair Corr
0.77	LBRDK	Liberty Broadband Srs	Pair Corr
0.73	ABLV	Able View Global	Pair Corr
0.71	LBRDA	Liberty Broadband Srs	Pair Corr

Related Correlations Analysis

	SBGI	NWSA	FWONA	LLYVK	AMCX	GTN	TGNA	SSP	NMIH
SBGI		0.62	0.46	0.21	-0.11	0.5	0.07	0.66	-0.42	SBGI
NWSA	0.62		0.56	0.56	-0.12	0.75	0.17	0.69	-0.1	NWSA
FWONA	0.46	0.56		-0.04	-0.4	0.2	-0.27	0.53	0.2	FWONA
LLYVK	0.21	0.56	-0.04		0.44	0.82	0.6	0.2	-0.22	LLYVK
AMCX	-0.11	-0.12	-0.4	0.44		0.32	0.83	-0.41	0.05	AMCX
GTN	0.5	0.75	0.2	0.82	0.32		0.58	0.59	-0.16	GTN
TGNA	0.07	0.17	-0.27	0.6	0.83	0.58		-0.16	0.02	TGNA
SSP	0.66	0.69	0.53	0.2	-0.41	0.59	-0.16		-0.15	SSP
NMIH	-0.42	-0.1	0.2	-0.22	0.05	-0.16	0.02	-0.15		NMIH
	SBGI	NWSA	FWONA	LLYVK	AMCX	GTN	TGNA	SSP	NMIH

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TGNA	+ 0.83	AMCX
GTN	+ 0.82	LLYVK
GTN	+ 0.75	NWSA
SSP	+ 0.69	NWSA
SSP	+ 0.66	SBGI
NWSA	+ 0.62	SBGI

High negative correlations

NMIH	- 0.42	SBGI
SSP	- 0.41	AMCX
AMCX	- 0.4	FWONA
TGNA	- 0.27	FWONA
NMIH	- 0.22	LLYVK
SSP	- 0.16	TGNA

Risk-Adjusted Indicators

There is a big difference between Nexstar Stock performing well and Nexstar Broadcasting Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Nexstar Broadcasting's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SBGI	2.37	0.02	0.00	0.12	3.09	(2.61)	5.29	(3.85)	22.30
NWSA	0.82	(0.06)	(0.07)	0.04	0.89	(0.92)	1.80	(1.56)	5.33
FWONA	1.06	0.09	(0.03)	(0.15)	1.36	(1.01)	2.22	(1.92)	6.96
LLYVK	1.22	0.30	0.25	0.34	1.02	(1.47)	4.00	(2.27)	7.62
AMCX	2.26	0.02	0.03	0.11	2.61	(2.52)	5.18	(4.47)	12.40
GTN	3.29	0.53	0.19	0.32	2.77	(3.89)	7.93	(4.73)	27.25
TGNA	1.79	0.44	0.17	0.62	1.82	(2.04)	2.57	(2.84)	32.07
SSP	4.34	0.42	0.11	0.28	4.46	(5.25)	10.77	(9.36)	26.36
NMIH	1.08	(0.09)	(0.05)	0.01	1.60	(1.04)	1.94	(2.33)	7.06

Nexstar Broadcasting Corporate Management

Rachel Morgan	General VP	Profile
Lindsey Harmon	Senior Counsel	Profile
Terri Bush	Senior Counsel	Profile
Todd Braverman	Executive Sales	Profile
JD Esq	Pres Network	Profile
Bill Mondora	Washington Chief	Profile
Jerry Walsh	Senior Development	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC