China Automotive Systems, Inc. (CAAS) Correlation Distribution
Across 6,809 rolling correlation observations between China Automotive Systems, Inc. (CAAS) and other NASDAQ-listed stocks, 52.4% are positive and 47.6% are negative. The most common correlation range is -0.1 to 0.0, and the average pairwise correlation is 0.016, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 0.6% and strong negative correlations (≤−0.7) for 0%.
- Total observations
- 6,809
- Mean correlation
- 0.016
- Most common range
- -0.1 to 0.0
- Positive pairs
- 52.4%
- Strong positive (≥0.7)
- 0.6%
- Sector
- Motor Vehicle Parts & Accessories
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 1 | 0.0% | |
| -0.8 to -0.7 | 1 | 0.0% | |
| -0.7 to -0.6 | 35 | 0.5% | |
| -0.6 to -0.5 | 34 | 0.5% | |
| -0.5 to -0.4 | 209 | 3.1% | |
| -0.4 to -0.3 | 209 | 3.1% | |
| -0.3 to -0.2 | 614 | 9.0% | |
| -0.2 to -0.1 | 614 | 9.0% | |
| -0.1 to 0.0 | 1,523 | 22.4% | |
| 0.0 to 0.1 | 1,522 | 22.4% | |
| 0.1 to 0.2 | 743 | 10.9% | |
| 0.2 to 0.3 | 742 | 10.9% | |
| 0.3 to 0.4 | 198 | 2.9% | |
| 0.4 to 0.5 | 197 | 2.9% | |
| 0.5 to 0.6 | 63 | 0.9% | |
| 0.6 to 0.7 | 63 | 0.9% | |
| 0.7 to 0.8 | 20 | 0.3% | |
| 0.8 to 0.9 | 20 | 0.3% | |
| 0.9 to 1.0 | 1 | 0.0% |
Frequently asked questions
What is the average correlation of CAAS?
China Automotive Systems, Inc. (CAAS) has an average correlation of about 0.016 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is CAAS positively correlated with other stocks?
Mostly yes — 52.4% of pairs are positive and 47.6% are negative. Strong positive correlations (≥0.7) make up 0.6%.
What is the most common correlation range for CAAS?
The most common range is -0.1 to 0.0. Weak correlations (−0.3 to 0.3) account for 84.6% of all pairs.
Explore the full interactive correlation distribution for CAAS.
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