Cenovus Energy Inc. (CVE) Correlation Distribution
Across 6,809 rolling correlation observations between Cenovus Energy Inc. (CVE) 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 -0.175, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 3.7% and strong negative correlations (≤−0.7) for 20.1%.
- Total observations
- 6,809
- Mean correlation
- -0.175
- Most common range
- -0.9 to -0.8
- Positive pairs
- 38.3%
- Strong positive (≥0.7)
- 3.7%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 44 | 0.6% | |
| -0.9 to -0.8 | 662 | 9.7% | |
| -0.8 to -0.7 | 661 | 9.7% | |
| -0.7 to -0.6 | 511 | 7.5% | |
| -0.6 to -0.5 | 511 | 7.5% | |
| -0.5 to -0.4 | 394 | 5.8% | |
| -0.4 to -0.3 | 394 | 5.8% | |
| -0.3 to -0.2 | 338 | 5.0% | |
| -0.2 to -0.1 | 337 | 4.9% | |
| -0.1 to 0.0 | 348 | 5.1% | |
| 0.0 to 0.1 | 347 | 5.1% | |
| 0.1 to 0.2 | 368 | 5.4% | |
| 0.2 to 0.3 | 368 | 5.4% | |
| 0.3 to 0.4 | 368 | 5.4% | |
| 0.4 to 0.5 | 368 | 5.4% | |
| 0.5 to 0.6 | 268 | 3.9% | |
| 0.6 to 0.7 | 268 | 3.9% | |
| 0.7 to 0.8 | 106 | 1.6% | |
| 0.8 to 0.9 | 106 | 1.6% | |
| 0.9 to 1.0 | 42 | 0.6% |
Frequently asked questions
What is the average correlation of CVE?
Cenovus Energy Inc. (CVE) has an average correlation of about -0.175 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is CVE 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 3.7%.
What is the most common correlation range for CVE?
The most common range is -0.9 to -0.8. Weak correlations (−0.3 to 0.3) account for 30.9% of all pairs.
Explore the full interactive correlation distribution for CVE.
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