Commercial Metals Company (CMC) Correlation Distribution
Across 6,809 rolling correlation observations between Commercial Metals Company (CMC) and other NASDAQ-listed stocks, 38.3% are positive and 61.7% are negative. The most common correlation range is -0.9 to -0.8, and the average pairwise correlation is -0.159, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 10.7% and strong negative correlations (≤−0.7) for 23.8%.
- Total observations
- 6,809
- Mean correlation
- -0.159
- Most common range
- -0.9 to -0.8
- Positive pairs
- 38.3%
- Strong positive (≥0.7)
- 10.7%
- Sector
- Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 26 | 0.4% | |
| -0.9 to -0.8 | 797 | 11.7% | |
| -0.8 to -0.7 | 797 | 11.7% | |
| -0.7 to -0.6 | 576 | 8.5% | |
| -0.6 to -0.5 | 576 | 8.5% | |
| -0.5 to -0.4 | 313 | 4.6% | |
| -0.4 to -0.3 | 312 | 4.6% | |
| -0.3 to -0.2 | 274 | 4.0% | |
| -0.2 to -0.1 | 273 | 4.0% | |
| -0.1 to 0.0 | 259 | 3.8% | |
| 0.0 to 0.1 | 259 | 3.8% | |
| 0.1 to 0.2 | 245 | 3.6% | |
| 0.2 to 0.3 | 244 | 3.6% | |
| 0.3 to 0.4 | 238 | 3.5% | |
| 0.4 to 0.5 | 237 | 3.5% | |
| 0.5 to 0.6 | 327 | 4.8% | |
| 0.6 to 0.7 | 327 | 4.8% | |
| 0.7 to 0.8 | 348 | 5.1% | |
| 0.8 to 0.9 | 348 | 5.1% | |
| 0.9 to 1.0 | 33 | 0.5% |
Frequently asked questions
What is the average correlation of CMC?
Commercial Metals Company (CMC) has an average correlation of about -0.159 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is CMC positively correlated with other stocks?
Not predominantly — 38.3% of pairs are positive and 61.7% are negative. Strong positive correlations (≥0.7) make up 10.7%.
What is the most common correlation range for CMC?
The most common range is -0.9 to -0.8. Weak correlations (−0.3 to 0.3) account for 22.8% of all pairs.
Explore the full interactive correlation distribution for CMC.
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