Covenant Logistics Group, Inc. (CVLG) Correlation Distribution
Across 6,809 rolling correlation observations between Covenant Logistics Group, Inc. (CVLG) and other NASDAQ-listed stocks, 36.4% are positive and 63.6% are negative. The most common correlation range is -0.9 to -0.8, and the average pairwise correlation is -0.173, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 13.6% and strong negative correlations (≤−0.7) for 23.9%.
- Total observations
- 6,809
- Mean correlation
- -0.173
- Most common range
- -0.9 to -0.8
- Positive pairs
- 36.4%
- Strong positive (≥0.7)
- 13.6%
- Sector
- Trucking (No Local)
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 19 | 0.3% | |
| -0.9 to -0.8 | 804 | 11.8% | |
| -0.8 to -0.7 | 803 | 11.8% | |
| -0.7 to -0.6 | 701 | 10.3% | |
| -0.6 to -0.5 | 700 | 10.3% | |
| -0.5 to -0.4 | 323 | 4.7% | |
| -0.4 to -0.3 | 322 | 4.7% | |
| -0.3 to -0.2 | 229 | 3.4% | |
| -0.2 to -0.1 | 229 | 3.4% | |
| -0.1 to 0.0 | 202 | 3.0% | |
| 0.0 to 0.1 | 202 | 3.0% | |
| 0.1 to 0.2 | 209 | 3.1% | |
| 0.2 to 0.3 | 208 | 3.1% | |
| 0.3 to 0.4 | 202 | 3.0% | |
| 0.4 to 0.5 | 201 | 3.0% | |
| 0.5 to 0.6 | 266 | 3.9% | |
| 0.6 to 0.7 | 266 | 3.9% | |
| 0.7 to 0.8 | 414 | 6.1% | |
| 0.8 to 0.9 | 414 | 6.1% | |
| 0.9 to 1.0 | 95 | 1.4% |
Frequently asked questions
What is the average correlation of CVLG?
Covenant Logistics Group, Inc. (CVLG) has an average correlation of about -0.173 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is CVLG positively correlated with other stocks?
Not predominantly — 36.4% of pairs are positive and 63.6% are negative. Strong positive correlations (≥0.7) make up 13.6%.
What is the most common correlation range for CVLG?
The most common range is -0.9 to -0.8. Weak correlations (−0.3 to 0.3) account for 18.8% of all pairs.
Explore the full interactive correlation distribution for CVLG.
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