Companhia Energetica De Minas Gerais-CEMIG (CIG) Correlation Distribution
Across 6,809 rolling correlation observations between Companhia Energetica De Minas Gerais-CEMIG (CIG) and other NASDAQ-listed stocks, 38% are positive and 62% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.151, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 7.2% and strong negative correlations (≤−0.7) for 16.3%.
- Total observations
- 6,809
- Mean correlation
- -0.151
- Most common range
- -0.7 to -0.6
- Positive pairs
- 38%
- Strong positive (≥0.7)
- 7.2%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 556 | 8.2% | |
| -0.8 to -0.7 | 556 | 8.2% | |
| -0.7 to -0.6 | 732 | 10.8% | |
| -0.6 to -0.5 | 731 | 10.7% | |
| -0.5 to -0.4 | 387 | 5.7% | |
| -0.4 to -0.3 | 386 | 5.7% | |
| -0.3 to -0.2 | 298 | 4.4% | |
| -0.2 to -0.1 | 297 | 4.4% | |
| -0.1 to 0.0 | 280 | 4.1% | |
| 0.0 to 0.1 | 280 | 4.1% | |
| 0.1 to 0.2 | 262 | 3.8% | |
| 0.2 to 0.3 | 262 | 3.8% | |
| 0.3 to 0.4 | 258 | 3.8% | |
| 0.4 to 0.5 | 257 | 3.8% | |
| 0.5 to 0.6 | 388 | 5.7% | |
| 0.6 to 0.7 | 388 | 5.7% | |
| 0.7 to 0.8 | 246 | 3.6% | |
| 0.8 to 0.9 | 245 | 3.6% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of CIG?
Companhia Energetica De Minas Gerais-CEMIG (CIG) has an average correlation of about -0.151 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is CIG positively correlated with other stocks?
Not predominantly — 38% of pairs are positive and 62% are negative. Strong positive correlations (≥0.7) make up 7.2%.
What is the most common correlation range for CIG?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 24.7% of all pairs.
Explore the full interactive correlation distribution for CIG.
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