Canadian Natural Resources Limited (CNQ) Correlation Distribution
Across 6,809 rolling correlation observations between Canadian Natural Resources Limited (CNQ) and other NASDAQ-listed stocks, 37.4% are positive and 62.6% are negative. The most common correlation range is -0.9 to -0.8, and the average pairwise correlation is -0.171, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 9.3% and strong negative correlations (≤−0.7) for 24.4%.
- Total observations
- 6,809
- Mean correlation
- -0.171
- Most common range
- -0.9 to -0.8
- Positive pairs
- 37.4%
- Strong positive (≥0.7)
- 9.3%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 128 | 1.9% | |
| -0.9 to -0.8 | 767 | 11.3% | |
| -0.8 to -0.7 | 767 | 11.3% | |
| -0.7 to -0.6 | 537 | 7.9% | |
| -0.6 to -0.5 | 537 | 7.9% | |
| -0.5 to -0.4 | 356 | 5.2% | |
| -0.4 to -0.3 | 356 | 5.2% | |
| -0.3 to -0.2 | 285 | 4.2% | |
| -0.2 to -0.1 | 285 | 4.2% | |
| -0.1 to 0.0 | 246 | 3.6% | |
| 0.0 to 0.1 | 245 | 3.6% | |
| 0.1 to 0.2 | 230 | 3.4% | |
| 0.2 to 0.3 | 229 | 3.4% | |
| 0.3 to 0.4 | 251 | 3.7% | |
| 0.4 to 0.5 | 251 | 3.7% | |
| 0.5 to 0.6 | 353 | 5.2% | |
| 0.6 to 0.7 | 353 | 5.2% | |
| 0.7 to 0.8 | 292 | 4.3% | |
| 0.8 to 0.9 | 291 | 4.3% | |
| 0.9 to 1.0 | 50 | 0.7% |
Frequently asked questions
What is the average correlation of CNQ?
Canadian Natural Resources Limited (CNQ) has an average correlation of about -0.171 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is CNQ positively correlated with other stocks?
Not predominantly — 37.4% of pairs are positive and 62.6% are negative. Strong positive correlations (≥0.7) make up 9.3%.
What is the most common correlation range for CNQ?
The most common range is -0.9 to -0.8. Weak correlations (−0.3 to 0.3) account for 22.3% of all pairs.
Explore the full interactive correlation distribution for CNQ.
Open interactive dashboard →