Carvana Co. (CVNA) Correlation Distribution
Across 6,809 rolling correlation observations between Carvana Co. (CVNA) and other NASDAQ-listed stocks, 73.1% are positive and 26.9% are negative. The most common correlation range is 0.5 to 0.6, and the average pairwise correlation is 0.264, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 14.5% and strong negative correlations (≤−0.7) for 2%.
- Total observations
- 6,809
- Mean correlation
- 0.264
- Most common range
- 0.5 to 0.6
- Positive pairs
- 73.1%
- Strong positive (≥0.7)
- 14.5%
- Sector
- Retail-Auto Dealers & Gasoline Stations
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 4 | 0.1% | |
| -0.9 to -0.8 | 66 | 1.0% | |
| -0.8 to -0.7 | 65 | 1.0% | |
| -0.7 to -0.6 | 169 | 2.5% | |
| -0.6 to -0.5 | 169 | 2.5% | |
| -0.5 to -0.4 | 206 | 3.0% | |
| -0.4 to -0.3 | 205 | 3.0% | |
| -0.3 to -0.2 | 283 | 4.2% | |
| -0.2 to -0.1 | 283 | 4.2% | |
| -0.1 to 0.0 | 383 | 5.6% | |
| 0.0 to 0.1 | 383 | 5.6% | |
| 0.1 to 0.2 | 448 | 6.6% | |
| 0.2 to 0.3 | 448 | 6.6% | |
| 0.3 to 0.4 | 580 | 8.5% | |
| 0.4 to 0.5 | 579 | 8.5% | |
| 0.5 to 0.6 | 775 | 11.4% | |
| 0.6 to 0.7 | 774 | 11.4% | |
| 0.7 to 0.8 | 425 | 6.2% | |
| 0.8 to 0.9 | 424 | 6.2% | |
| 0.9 to 1.0 | 140 | 2.1% |
Frequently asked questions
What is the average correlation of CVNA?
Carvana Co. (CVNA) has an average correlation of about 0.264 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is CVNA positively correlated with other stocks?
Mostly yes — 73.1% of pairs are positive and 26.9% are negative. Strong positive correlations (≥0.7) make up 14.5%.
What is the most common correlation range for CVNA?
The most common range is 0.5 to 0.6. Weak correlations (−0.3 to 0.3) account for 32.7% of all pairs.
Explore the full interactive correlation distribution for CVNA.
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