Adagene Inc. American Depositary Shares (ADAG) Correlation Distribution
Across 6,805 rolling correlation observations between Adagene Inc. American Depositary Shares (ADAG) and other NASDAQ-listed stocks, 69.9% are positive and 30.1% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.332, indicating a clearly positive co-movement bias. Strong positive correlations (≥0.7) account for 35.8% and strong negative correlations (≤−0.7) for 1.5%.
- Total observations
- 6,805
- Mean correlation
- 0.332
- Most common range
- 0.7 to 0.8
- Positive pairs
- 69.9%
- Strong positive (≥0.7)
- 35.8%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 50 | 0.7% | |
| -0.8 to -0.7 | 49 | 0.7% | |
| -0.7 to -0.6 | 206 | 3.0% | |
| -0.6 to -0.5 | 205 | 3.0% | |
| -0.5 to -0.4 | 341 | 5.0% | |
| -0.4 to -0.3 | 340 | 5.0% | |
| -0.3 to -0.2 | 297 | 4.4% | |
| -0.2 to -0.1 | 297 | 4.4% | |
| -0.1 to 0.0 | 260 | 3.8% | |
| 0.0 to 0.1 | 260 | 3.8% | |
| 0.1 to 0.2 | 251 | 3.7% | |
| 0.2 to 0.3 | 251 | 3.7% | |
| 0.3 to 0.4 | 316 | 4.6% | |
| 0.4 to 0.5 | 315 | 4.6% | |
| 0.5 to 0.6 | 465 | 6.8% | |
| 0.6 to 0.7 | 465 | 6.8% | |
| 0.7 to 0.8 | 843 | 12.4% | |
| 0.8 to 0.9 | 842 | 12.4% | |
| 0.9 to 1.0 | 752 | 11.1% |
Frequently asked questions
What is the average correlation of ADAG?
Adagene Inc. American Depositary Shares (ADAG) has an average correlation of about 0.332 with other NASDAQ stocks, based on 6,805 pairwise observations.
Is ADAG positively correlated with other stocks?
Mostly yes — 69.9% of pairs are positive and 30.1% are negative. Strong positive correlations (≥0.7) make up 35.8%.
What is the most common correlation range for ADAG?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 23.7% of all pairs.
Explore the full interactive correlation distribution for ADAG.
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