Madison Square Correlations

MSGS Stock

USD 229.11 1.26 0.55%

The current 90-days correlation between Madison Square Garden and Roku Inc is 0.21 (i.e., Modest diversification). The correlation of Madison Square 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.

Madison Square Correlation With Market

Very weak diversification

The correlation between Madison Square Garden and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Madison Square Garden and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Madison Stock

0.76	CNK	Cinemark Holdings	Pair Corr
0.76	DIS	Walt Disney Aggressive Push	Pair Corr
0.87	EDR	Endeavor Group Holdings	Pair Corr
0.92	LYV	Live Nation Entertainment	Pair Corr
0.84	MCS	Marcus	Pair Corr
0.74	NWS	News Corp B	Pair Corr
0.63	WBD	Warner Bros Discovery Aggressive Push	Pair Corr
0.92	WLY	John Wiley Sons Earnings Call This Week	Pair Corr
0.82	WMG	Warner Music Group	Pair Corr
0.86	FWONA	Liberty Media	Pair Corr
0.89	CMCSA	Comcast Corp Sell-off Trend	Pair Corr
0.61	NXST	Nexstar Broadcasting	Pair Corr
0.63	PARA	Paramount Global Class Aggressive Push	Pair Corr
0.86	LBRDA	Liberty Broadband Srs	Pair Corr
0.86	LBRDK	Liberty Broadband Srs	Pair Corr
0.64	CHTR	Charter Communications	Pair Corr
0.73	T	ATT Inc Aggressive Push	Pair Corr
0.68	Z	Zillow Group Class	Pair Corr
0.73	DJCO	Daily Journal Corp	Pair Corr
0.71	EA	Electronic Arts	Pair Corr
0.61	KT	KT Corporation	Pair Corr

Moving against Madison Stock

0.72	KUKE	Kuke Music Holding	Pair Corr
0.68	LVO	LiveOne	Pair Corr
0.81	TU	Telus Corp	Pair Corr
0.78	TC	TuanChe ADR	Pair Corr
0.71	EVER	EverQuote Class A	Pair Corr
0.65	DLPN	Dolphin Entertainment	Pair Corr
0.45	EMWPF	Eros Media World	Pair Corr
0.4	GDEVW	Nexters Warrant	Pair Corr
0.37	WWRL	World Wireless Commu	Pair Corr
0.35	CELJF	Cellcom Israel	Pair Corr
0.33	SBSAA	Spanish Broadcasting	Pair Corr
0.31	FENG	Phoenix New Media	Pair Corr

Related Correlations Analysis

	ROKU	AMC	PARA	WBD	NFLX	PARAA
ROKU		-0.53	-0.03	-0.11	-0.07	-0.22	ROKU
AMC	-0.53		-0.14	0.1	-0.16	0.14	AMC
PARA	-0.03	-0.14		0.68	0.58	0.45	PARA
WBD	-0.11	0.1	0.68		0.85	0.75	WBD
NFLX	-0.07	-0.16	0.58	0.85		0.67	NFLX
PARAA	-0.22	0.14	0.45	0.75	0.67		PARAA
	ROKU	AMC	PARA	WBD	NFLX	PARAA

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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

NFLX	+ 0.85	WBD
PARAA	+ 0.75	WBD
WBD	+ 0.68	PARA
PARAA	+ 0.67	NFLX
NFLX	+ 0.58	PARA
PARAA	+ 0.45	PARA

High negative correlations

AMC	- 0.53	ROKU
PARAA	- 0.22	ROKU
NFLX	- 0.16	AMC
PARA	- 0.14	AMC
WBD	- 0.11	ROKU
NFLX	- 0.07	ROKU

Risk-Adjusted Indicators

There is a big difference between Madison Stock performing well and Madison Square 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 Madison Square'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
ROKU	2.43	(0.16)	(0.02)	0.01	4.14	(2.38)	4.96	(4.28)	24.17
AMC	1.99	(0.13)	(0.04)	0.01	2.38	(2.30)	4.33	(3.94)	11.40
PARA	1.44	(0.03)	(0.03)	0.07	1.94	(1.42)	2.82	(2.81)	9.14
WBD	2.30	0.27	0.12	0.32	2.20	(2.70)	5.42	(3.45)	18.30
NFLX	1.33	0.29	0.15	0.57	1.35	(1.46)	2.80	(2.47)	14.67
PARAA	0.64	0.03	(0.08)	0.27	0.66	(0.81)	1.65	(1.06)	8.32

Madison Square Corporate Management

Sandra Kapell	Chief VP	Profile
Brian Sweeney	Director	Profile
Ari CFA	Senior Treasury	Profile
Philip DAmbrosio	Senior Vice President Treasurer	Profile
Anthony Vinciquerra	Independent Director	Profile

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