Envela Corporation (ELA) Correlation Distribution
Across 6,809 rolling correlation observations between Envela Corporation (ELA) and other NASDAQ-listed stocks, 37.3% are positive and 62.7% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is -0.088, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 0.2% and strong negative correlations (≤−0.7) for 0.1%.
- Total observations
- 6,809
- Mean correlation
- -0.088
- Most common range
- -0.5 to -0.4
- Positive pairs
- 37.3%
- Strong positive (≥0.7)
- 0.2%
- Sector
- Retail-Jewelry Stores
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 3 | 0.0% | |
| -0.8 to -0.7 | 2 | 0.0% | |
| -0.7 to -0.6 | 73 | 1.1% | |
| -0.6 to -0.5 | 72 | 1.1% | |
| -0.5 to -0.4 | 926 | 13.6% | |
| -0.4 to -0.3 | 926 | 13.6% | |
| -0.3 to -0.2 | 850 | 12.5% | |
| -0.2 to -0.1 | 850 | 12.5% | |
| -0.1 to 0.0 | 568 | 8.3% | |
| 0.0 to 0.1 | 567 | 8.3% | |
| 0.1 to 0.2 | 610 | 9.0% | |
| 0.2 to 0.3 | 609 | 8.9% | |
| 0.3 to 0.4 | 320 | 4.7% | |
| 0.4 to 0.5 | 319 | 4.7% | |
| 0.5 to 0.6 | 49 | 0.7% | |
| 0.6 to 0.7 | 49 | 0.7% | |
| 0.7 to 0.8 | 8 | 0.1% | |
| 0.8 to 0.9 | 8 | 0.1% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of ELA?
Envela Corporation (ELA) has an average correlation of about -0.088 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is ELA positively correlated with other stocks?
Not predominantly — 37.3% of pairs are positive and 62.7% are negative. Strong positive correlations (≥0.7) make up 0.2%.
What is the most common correlation range for ELA?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 59.5% of all pairs.
Explore the full interactive correlation distribution for ELA.
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