ADVANCE AUTO PARTS INC (AAP) Correlation Distribution
Across 6,809 rolling correlation observations between ADVANCE AUTO PARTS INC (AAP) and other NASDAQ-listed stocks, 67.8% are positive and 32.2% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.228, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 24.3% and strong negative correlations (≤−0.7) for 9.1%.
- Total observations
- 6,809
- Mean correlation
- 0.228
- Most common range
- 0.7 to 0.8
- Positive pairs
- 67.8%
- Strong positive (≥0.7)
- 24.3%
- Sector
- Retail-Auto & Home Supply Stores
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 101 | 1.5% | |
| -0.9 to -0.8 | 260 | 3.8% | |
| -0.8 to -0.7 | 259 | 3.8% | |
| -0.7 to -0.6 | 277 | 4.1% | |
| -0.6 to -0.5 | 276 | 4.1% | |
| -0.5 to -0.4 | 210 | 3.1% | |
| -0.4 to -0.3 | 210 | 3.1% | |
| -0.3 to -0.2 | 195 | 2.9% | |
| -0.2 to -0.1 | 194 | 2.8% | |
| -0.1 to 0.0 | 211 | 3.1% | |
| 0.0 to 0.1 | 210 | 3.1% | |
| 0.1 to 0.2 | 242 | 3.6% | |
| 0.2 to 0.3 | 242 | 3.6% | |
| 0.3 to 0.4 | 399 | 5.9% | |
| 0.4 to 0.5 | 399 | 5.9% | |
| 0.5 to 0.6 | 734 | 10.8% | |
| 0.6 to 0.7 | 733 | 10.8% | |
| 0.7 to 0.8 | 754 | 11.1% | |
| 0.8 to 0.9 | 754 | 11.1% | |
| 0.9 to 1.0 | 149 | 2.2% |
Frequently asked questions
What is the average correlation of AAP?
ADVANCE AUTO PARTS INC (AAP) has an average correlation of about 0.228 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is AAP positively correlated with other stocks?
Mostly yes — 67.8% of pairs are positive and 32.2% are negative. Strong positive correlations (≥0.7) make up 24.3%.
What is the most common correlation range for AAP?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 19% of all pairs.
Explore the full interactive correlation distribution for AAP.
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