Cadence Design Systems (CDNS) Correlation Distribution
Across 6,809 rolling correlation observations between Cadence Design Systems (CDNS) and other NASDAQ-listed stocks, 37.2% are positive and 62.8% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.139, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 14.8% and strong negative correlations (≤−0.7) for 17.8%.
- Total observations
- 6,809
- Mean correlation
- -0.139
- Most common range
- -0.7 to -0.6
- Positive pairs
- 37.2%
- Strong positive (≥0.7)
- 14.8%
- Sector
- Services-Prepackaged Software
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 23 | 0.3% | |
| -0.9 to -0.8 | 596 | 8.8% | |
| -0.8 to -0.7 | 595 | 8.7% | |
| -0.7 to -0.6 | 803 | 11.8% | |
| -0.6 to -0.5 | 802 | 11.8% | |
| -0.5 to -0.4 | 385 | 5.7% | |
| -0.4 to -0.3 | 384 | 5.6% | |
| -0.3 to -0.2 | 244 | 3.6% | |
| -0.2 to -0.1 | 243 | 3.6% | |
| -0.1 to 0.0 | 199 | 2.9% | |
| 0.0 to 0.1 | 199 | 2.9% | |
| 0.1 to 0.2 | 209 | 3.1% | |
| 0.2 to 0.3 | 208 | 3.1% | |
| 0.3 to 0.4 | 194 | 2.8% | |
| 0.4 to 0.5 | 193 | 2.8% | |
| 0.5 to 0.6 | 263 | 3.9% | |
| 0.6 to 0.7 | 262 | 3.8% | |
| 0.7 to 0.8 | 387 | 5.7% | |
| 0.8 to 0.9 | 386 | 5.7% | |
| 0.9 to 1.0 | 234 | 3.4% |
Frequently asked questions
What is the average correlation of CDNS?
Cadence Design Systems (CDNS) has an average correlation of about -0.139 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is CDNS positively correlated with other stocks?
Not predominantly — 37.2% of pairs are positive and 62.8% are negative. Strong positive correlations (≥0.7) make up 14.8%.
What is the most common correlation range for CDNS?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 19.1% of all pairs.
Explore the full interactive correlation distribution for CDNS.
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