Cango Inc. American Depositary Shares, each representing two (2) Class A Ordinary Shares (CANG) Correlation Distribution
Across 6,809 rolling correlation observations between Cango Inc. American Depositary Shares, each representing two (2) Class A Ordinary Shares (CANG) and other NASDAQ-listed stocks, 65.3% are positive and 34.7% are negative. The most common correlation range is 0.5 to 0.6, and the average pairwise correlation is 0.208, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 18.1% and strong negative correlations (≤−0.7) for 2.3%.
- Total observations
- 6,809
- Mean correlation
- 0.208
- Most common range
- 0.5 to 0.6
- Positive pairs
- 65.3%
- Strong positive (≥0.7)
- 18.1%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 2 | 0.0% | |
| -0.9 to -0.8 | 79 | 1.2% | |
| -0.8 to -0.7 | 79 | 1.2% | |
| -0.7 to -0.6 | 227 | 3.3% | |
| -0.6 to -0.5 | 226 | 3.3% | |
| -0.5 to -0.4 | 357 | 5.2% | |
| -0.4 to -0.3 | 356 | 5.2% | |
| -0.3 to -0.2 | 345 | 5.1% | |
| -0.2 to -0.1 | 345 | 5.1% | |
| -0.1 to 0.0 | 348 | 5.1% | |
| 0.0 to 0.1 | 348 | 5.1% | |
| 0.1 to 0.2 | 369 | 5.4% | |
| 0.2 to 0.3 | 369 | 5.4% | |
| 0.3 to 0.4 | 436 | 6.4% | |
| 0.4 to 0.5 | 436 | 6.4% | |
| 0.5 to 0.6 | 628 | 9.2% | |
| 0.6 to 0.7 | 628 | 9.2% | |
| 0.7 to 0.8 | 593 | 8.7% | |
| 0.8 to 0.9 | 592 | 8.7% | |
| 0.9 to 1.0 | 46 | 0.7% |
Frequently asked questions
What is the average correlation of CANG?
Cango Inc. American Depositary Shares, each representing two (2) Class A Ordinary Shares (CANG) has an average correlation of about 0.208 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is CANG positively correlated with other stocks?
Mostly yes — 65.3% of pairs are positive and 34.7% are negative. Strong positive correlations (≥0.7) make up 18.1%.
What is the most common correlation range for CANG?
The most common range is 0.5 to 0.6. Weak correlations (−0.3 to 0.3) account for 31.2% of all pairs.
Explore the full interactive correlation distribution for CANG.
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