AvidXchange Holdings, Inc. Common Stock (AVDX) Correlation Distribution
Across 6,798 rolling correlation observations between AvidXchange Holdings, Inc. Common Stock (AVDX) and other NASDAQ-listed stocks, 75.4% are positive and 24.6% are negative. The most common correlation range is 0.3 to 0.4, and the average pairwise correlation is 0.253, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 6.7% and strong negative correlations (≤−0.7) for 0%.
- Total observations
- 6,798
- Mean correlation
- 0.253
- Most common range
- 0.3 to 0.4
- Positive pairs
- 75.4%
- Strong positive (≥0.7)
- 6.7%
- Sector
- Services-Prepackaged Software
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 0 | 0.0% | |
| -0.8 to -0.7 | 0 | 0.0% | |
| -0.7 to -0.6 | 21 | 0.3% | |
| -0.6 to -0.5 | 20 | 0.3% | |
| -0.5 to -0.4 | 122 | 1.8% | |
| -0.4 to -0.3 | 121 | 1.8% | |
| -0.3 to -0.2 | 373 | 5.5% | |
| -0.2 to -0.1 | 373 | 5.5% | |
| -0.1 to 0.0 | 639 | 9.4% | |
| 0.0 to 0.1 | 639 | 9.4% | |
| 0.1 to 0.2 | 645 | 9.5% | |
| 0.2 to 0.3 | 644 | 9.5% | |
| 0.3 to 0.4 | 705 | 10.4% | |
| 0.4 to 0.5 | 705 | 10.4% | |
| 0.5 to 0.6 | 669 | 9.8% | |
| 0.6 to 0.7 | 668 | 9.8% | |
| 0.7 to 0.8 | 225 | 3.3% | |
| 0.8 to 0.9 | 224 | 3.3% | |
| 0.9 to 1.0 | 5 | 0.1% |
Frequently asked questions
What is the average correlation of AVDX?
AvidXchange Holdings, Inc. Common Stock (AVDX) has an average correlation of about 0.253 with other NASDAQ stocks, based on 6,798 pairwise observations.
Is AVDX positively correlated with other stocks?
Mostly yes — 75.4% of pairs are positive and 24.6% are negative. Strong positive correlations (≥0.7) make up 6.7%.
What is the most common correlation range for AVDX?
The most common range is 0.3 to 0.4. Weak correlations (−0.3 to 0.3) account for 48.7% of all pairs.
Explore the full interactive correlation distribution for AVDX.
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