ChampionX Corporation (CHX) Correlation Distribution
Across 6,809 rolling correlation observations between ChampionX Corporation (CHX) and other NASDAQ-listed stocks, 40.8% are positive and 59.2% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.081, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 7.5% and strong negative correlations (≤−0.7) for 5.7%.
- Total observations
- 6,809
- Mean correlation
- -0.081
- Most common range
- -0.7 to -0.6
- Positive pairs
- 40.8%
- Strong positive (≥0.7)
- 7.5%
- Sector
- Construction, Mining & Materials Handling Machinery & Equip
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 194 | 2.8% | |
| -0.8 to -0.7 | 194 | 2.8% | |
| -0.7 to -0.6 | 729 | 10.7% | |
| -0.6 to -0.5 | 728 | 10.7% | |
| -0.5 to -0.4 | 591 | 8.7% | |
| -0.4 to -0.3 | 591 | 8.7% | |
| -0.3 to -0.2 | 349 | 5.1% | |
| -0.2 to -0.1 | 349 | 5.1% | |
| -0.1 to 0.0 | 304 | 4.5% | |
| 0.0 to 0.1 | 303 | 4.4% | |
| 0.1 to 0.2 | 272 | 4.0% | |
| 0.2 to 0.3 | 272 | 4.0% | |
| 0.3 to 0.4 | 307 | 4.5% | |
| 0.4 to 0.5 | 306 | 4.5% | |
| 0.5 to 0.6 | 405 | 5.9% | |
| 0.6 to 0.7 | 404 | 5.9% | |
| 0.7 to 0.8 | 255 | 3.7% | |
| 0.8 to 0.9 | 254 | 3.7% | |
| 0.9 to 1.0 | 2 | 0.0% |
Frequently asked questions
What is the average correlation of CHX?
ChampionX Corporation (CHX) has an average correlation of about -0.081 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is CHX positively correlated with other stocks?
Not predominantly — 40.8% of pairs are positive and 59.2% are negative. Strong positive correlations (≥0.7) make up 7.5%.
What is the most common correlation range for CHX?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 27.2% of all pairs.
Explore the full interactive correlation distribution for CHX.
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