APA Corporation Common Stock (APA) Correlation Distribution
Across 6,809 rolling correlation observations between APA Corporation Common Stock (APA) and other NASDAQ-listed stocks, 38% are positive and 62% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.126, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 3.6% and strong negative correlations (≤−0.7) for 6.9%.
- Total observations
- 6,809
- Mean correlation
- -0.126
- Most common range
- -0.7 to -0.6
- Positive pairs
- 38%
- Strong positive (≥0.7)
- 3.6%
- Sector
- Crude Petroleum & Natural Gas
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 10 | 0.1% | |
| -0.9 to -0.8 | 231 | 3.4% | |
| -0.8 to -0.7 | 230 | 3.4% | |
| -0.7 to -0.6 | 602 | 8.8% | |
| -0.6 to -0.5 | 602 | 8.8% | |
| -0.5 to -0.4 | 526 | 7.7% | |
| -0.4 to -0.3 | 525 | 7.7% | |
| -0.3 to -0.2 | 497 | 7.3% | |
| -0.2 to -0.1 | 496 | 7.3% | |
| -0.1 to 0.0 | 503 | 7.4% | |
| 0.0 to 0.1 | 502 | 7.4% | |
| 0.1 to 0.2 | 392 | 5.8% | |
| 0.2 to 0.3 | 391 | 5.7% | |
| 0.3 to 0.4 | 323 | 4.7% | |
| 0.4 to 0.5 | 323 | 4.7% | |
| 0.5 to 0.6 | 206 | 3.0% | |
| 0.6 to 0.7 | 206 | 3.0% | |
| 0.7 to 0.8 | 112 | 1.6% | |
| 0.8 to 0.9 | 111 | 1.6% | |
| 0.9 to 1.0 | 21 | 0.3% |
Frequently asked questions
What is the average correlation of APA?
APA Corporation Common Stock (APA) has an average correlation of about -0.126 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is APA positively correlated with other stocks?
Not predominantly — 38% of pairs are positive and 62% are negative. Strong positive correlations (≥0.7) make up 3.6%.
What is the most common correlation range for APA?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 40.8% of all pairs.
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