BP Prudhoe Bay Royalty Trust (BPT) Correlation Distribution
Across 6,809 rolling correlation observations between BP Prudhoe Bay Royalty Trust (BPT) and other NASDAQ-listed stocks, 43.9% are positive and 56.1% are negative. The most common correlation range is -0.3 to -0.2, and the average pairwise correlation is -0.033, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 4.7% and strong negative correlations (≤−0.7) for 3.1%.
- Total observations
- 6,809
- Mean correlation
- -0.033
- Most common range
- -0.3 to -0.2
- Positive pairs
- 43.9%
- Strong positive (≥0.7)
- 4.7%
- Sector
- Petroleum Refining
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 31 | 0.5% | |
| -0.9 to -0.8 | 91 | 1.3% | |
| -0.8 to -0.7 | 91 | 1.3% | |
| -0.7 to -0.6 | 299 | 4.4% | |
| -0.6 to -0.5 | 299 | 4.4% | |
| -0.5 to -0.4 | 486 | 7.1% | |
| -0.4 to -0.3 | 485 | 7.1% | |
| -0.3 to -0.2 | 710 | 10.4% | |
| -0.2 to -0.1 | 709 | 10.4% | |
| -0.1 to 0.0 | 622 | 9.1% | |
| 0.0 to 0.1 | 621 | 9.1% | |
| 0.1 to 0.2 | 473 | 6.9% | |
| 0.2 to 0.3 | 473 | 6.9% | |
| 0.3 to 0.4 | 324 | 4.8% | |
| 0.4 to 0.5 | 324 | 4.8% | |
| 0.5 to 0.6 | 226 | 3.3% | |
| 0.6 to 0.7 | 226 | 3.3% | |
| 0.7 to 0.8 | 144 | 2.1% | |
| 0.8 to 0.9 | 143 | 2.1% | |
| 0.9 to 1.0 | 32 | 0.5% |
Frequently asked questions
What is the average correlation of BPT?
BP Prudhoe Bay Royalty Trust (BPT) has an average correlation of about -0.033 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is BPT positively correlated with other stocks?
Not predominantly — 43.9% of pairs are positive and 56.1% are negative. Strong positive correlations (≥0.7) make up 4.7%.
What is the most common correlation range for BPT?
The most common range is -0.3 to -0.2. Weak correlations (−0.3 to 0.3) account for 53% of all pairs.
Explore the full interactive correlation distribution for BPT.
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