DraftKings Inc. Class A Common Stock (DKNG) Correlation Distribution
Across 6,809 rolling correlation observations between DraftKings Inc. Class A Common Stock (DKNG) and other NASDAQ-listed stocks, 67.5% are positive and 32.5% are negative. The most common correlation range is 0.5 to 0.6, and the average pairwise correlation is 0.173, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 6.6% and strong negative correlations (≤−0.7) for 2.8%.
- Total observations
- 6,809
- Mean correlation
- 0.173
- Most common range
- 0.5 to 0.6
- Positive pairs
- 67.5%
- Strong positive (≥0.7)
- 6.6%
- Sector
- Services-Miscellaneous Amusement & Recreation
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 5 | 0.1% | |
| -0.9 to -0.8 | 92 | 1.4% | |
| -0.8 to -0.7 | 91 | 1.3% | |
| -0.7 to -0.6 | 165 | 2.4% | |
| -0.6 to -0.5 | 165 | 2.4% | |
| -0.5 to -0.4 | 243 | 3.6% | |
| -0.4 to -0.3 | 243 | 3.6% | |
| -0.3 to -0.2 | 364 | 5.3% | |
| -0.2 to -0.1 | 363 | 5.3% | |
| -0.1 to 0.0 | 479 | 7.0% | |
| 0.0 to 0.1 | 479 | 7.0% | |
| 0.1 to 0.2 | 563 | 8.3% | |
| 0.2 to 0.3 | 563 | 8.3% | |
| 0.3 to 0.4 | 615 | 9.0% | |
| 0.4 to 0.5 | 615 | 9.0% | |
| 0.5 to 0.6 | 657 | 9.6% | |
| 0.6 to 0.7 | 656 | 9.6% | |
| 0.7 to 0.8 | 214 | 3.1% | |
| 0.8 to 0.9 | 213 | 3.1% | |
| 0.9 to 1.0 | 24 | 0.4% |
Frequently asked questions
What is the average correlation of DKNG?
DraftKings Inc. Class A Common Stock (DKNG) has an average correlation of about 0.173 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is DKNG positively correlated with other stocks?
Mostly yes — 67.5% of pairs are positive and 32.5% are negative. Strong positive correlations (≥0.7) make up 6.6%.
What is the most common correlation range for DKNG?
The most common range is 0.5 to 0.6. Weak correlations (−0.3 to 0.3) account for 41.3% of all pairs.
Explore the full interactive correlation distribution for DKNG.
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