DNOW Inc. (DNOW) Correlation Distribution
Across 6,809 rolling correlation observations between DNOW Inc. (DNOW) and other NASDAQ-listed stocks, 38.5% are positive and 61.5% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.105, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 8.6% and strong negative correlations (≤−0.7) for 4.8%.
- Total observations
- 6,809
- Mean correlation
- -0.105
- Most common range
- -0.7 to -0.6
- Positive pairs
- 38.5%
- Strong positive (≥0.7)
- 8.6%
- Sector
- Oil & Gas Field Machinery & Equipment
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 165 | 2.4% | |
| -0.8 to -0.7 | 164 | 2.4% | |
| -0.7 to -0.6 | 951 | 14.0% | |
| -0.6 to -0.5 | 950 | 14.0% | |
| -0.5 to -0.4 | 533 | 7.8% | |
| -0.4 to -0.3 | 532 | 7.8% | |
| -0.3 to -0.2 | 311 | 4.6% | |
| -0.2 to -0.1 | 310 | 4.6% | |
| -0.1 to 0.0 | 271 | 4.0% | |
| 0.0 to 0.1 | 270 | 4.0% | |
| 0.1 to 0.2 | 233 | 3.4% | |
| 0.2 to 0.3 | 232 | 3.4% | |
| 0.3 to 0.4 | 265 | 3.9% | |
| 0.4 to 0.5 | 264 | 3.9% | |
| 0.5 to 0.6 | 387 | 5.7% | |
| 0.6 to 0.7 | 386 | 5.7% | |
| 0.7 to 0.8 | 293 | 4.3% | |
| 0.8 to 0.9 | 292 | 4.3% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of DNOW?
DNOW Inc. (DNOW) has an average correlation of about -0.105 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is DNOW positively correlated with other stocks?
Not predominantly — 38.5% of pairs are positive and 61.5% are negative. Strong positive correlations (≥0.7) make up 8.6%.
What is the most common correlation range for DNOW?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 23.9% of all pairs.
Explore the full interactive correlation distribution for DNOW.
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