Paramount Global Correlations

PARA Stock

USD 13.20 0.09 0.69%

The current 90-days correlation between Paramount Global Class and Warner Bros Discovery is 0.04 (i.e., Significant diversification). The correlation of Paramount Global 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.

Paramount Global Correlation With Market

Average diversification

The correlation between Paramount Global Class and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paramount Global Class and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Paramount Global Class. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Paramount Stock

0.72	VENU	Venu Holding	Pair Corr
0.81	BATRA	Atlanta Braves Holdings,	Pair Corr
0.65	FOX	Fox Corp Class	Pair Corr
0.64	LYV	Live Nation Entertainment	Pair Corr
0.84	NWS	News Corp B	Pair Corr
0.86	WBD	Warner Bros Discovery Aggressive Push	Pair Corr
0.76	HUYA	HUYA Inc	Pair Corr
0.68	LLYVA	Liberty Media	Pair Corr
0.66	FWONK	Liberty Media	Pair Corr
0.67	MANU	Manchester United	Pair Corr
0.81	NIPG	NIP Group American	Pair Corr
0.74	NWSA	News Corp A	Pair Corr
0.71	NXST	Nexstar Broadcasting	Pair Corr
0.72	PLAY	Dave Busters Enterta	Pair Corr
0.77	PARAA	Paramount Global Class Earnings Call This Week	Pair Corr
0.84	ROKU	Roku Inc Earnings Call This Week	Pair Corr

Moving against Paramount Stock

0.69	GAIA	Gaia Inc	Pair Corr
0.4	CNK	Cinemark Holdings Earnings Call This Week	Pair Corr
0.66	KUKE	Kuke Music Holding	Pair Corr
0.47	LION	Lionsgate Studios Holding	Pair Corr
0.68	ANGH	Anghami De	Pair Corr
0.58	RDIB	Reading International Downward Rally	Pair Corr

Related Correlations Analysis

	WBD	DIS	ROKU	NFLX	PARAA	ALLY	LUMN	CTRA	VTRS
WBD		0.31	0.93	0.56	0.81	0.84	0.65	0.05	0.82	WBD
DIS	0.31		0.52	0.71	0.2	0.63	0.3	0.15	0.41	DIS
ROKU	0.93	0.52		0.73	0.76	0.92	0.63	0.26	0.8	ROKU
NFLX	0.56	0.71	0.73		0.4	0.75	0.39	0.53	0.61	NFLX
PARAA	0.81	0.2	0.76	0.4		0.69	0.59	0.06	0.62	PARAA
ALLY	0.84	0.63	0.92	0.75	0.69		0.74	0.15	0.88	ALLY
LUMN	0.65	0.3	0.63	0.39	0.59	0.74		-0.08	0.65	LUMN
CTRA	0.05	0.15	0.26	0.53	0.06	0.15	-0.08		0.05	CTRA
VTRS	0.82	0.41	0.8	0.61	0.62	0.88	0.65	0.05		VTRS
	WBD	DIS	ROKU	NFLX	PARAA	ALLY	LUMN	CTRA	VTRS

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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

ROKU	+ 0.93	WBD
ALLY	+ 0.92	ROKU
VTRS	+ 0.88	ALLY
ALLY	+ 0.84	WBD
VTRS	+ 0.82	WBD
PARAA	+ 0.81	WBD

High negative correlations

CTRA

- 0.08

LUMN

Risk-Adjusted Indicators

There is a big difference between Paramount Stock performing well and Paramount Global 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 Paramount Global'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
WBD	1.74	0.86	0.26	(1.24)	1.27	(2.07)	5.04	(2.95)	11.82
DIS	1.13	0.31	0.45	0.50	0.00	(1.53)	2.96	(1.13)	12.45
ROKU	1.87	0.58	0.11	(1.12)	1.99	(2.22)	4.30	(2.59)	17.52
NFLX	1.20	0.11	(0.07)	(3.21)	1.64	(1.24)	2.21	(2.93)	7.66
PARAA	0.54	0.07	(0.27)	(0.22)	0.65	(0.59)	1.24	(1.09)	3.28
ALLY	1.33	0.32	0.01	(0.87)	1.52	(1.46)	3.23	(2.58)	10.02
LUMN	2.49	0.10	0.09	0.30	2.01	(3.35)	7.39	(4.13)	16.77
CTRA	1.47	(0.02)	0.00	0.28	0.00	0.00	3.02	(3.76)	12.38
VTRS	1.55	0.33	0.00	(0.56)	1.67	(1.69)	3.74	(3.46)	10.12

Paramount Global Corporate Management

Christopher McCarthy	CoChief Officer	Profile
Linda Rene	Executive Partnerships	Profile
Stephen Mirante	Executive Officer	Profile
Katie Kulik	Senior Group	Profile
Doretha Lea	Executive Relations	Profile

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