Companhia Paranaense de Energia - COPEL American Depositary Shares (each representing four (4) Class B Preferred Shares) (ELP) Correlation Distribution
Across 6,809 rolling correlation observations between Companhia Paranaense de Energia - COPEL American Depositary Shares (each representing four (4) Class B Preferred Shares) (ELP) and other NASDAQ-listed stocks, 31.7% are positive and 68.3% are negative. The most common correlation range is -0.3 to -0.2, and the average pairwise correlation is -0.162, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 2.2% and strong negative correlations (≤−0.7) for 3.3%.
- Total observations
- 6,809
- Mean correlation
- -0.162
- Most common range
- -0.3 to -0.2
- Positive pairs
- 31.7%
- Strong positive (≥0.7)
- 2.2%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 114 | 1.7% | |
| -0.8 to -0.7 | 113 | 1.7% | |
| -0.7 to -0.6 | 541 | 7.9% | |
| -0.6 to -0.5 | 541 | 7.9% | |
| -0.5 to -0.4 | 637 | 9.4% | |
| -0.4 to -0.3 | 637 | 9.4% | |
| -0.3 to -0.2 | 714 | 10.5% | |
| -0.2 to -0.1 | 713 | 10.5% | |
| -0.1 to 0.0 | 643 | 9.4% | |
| 0.0 to 0.1 | 642 | 9.4% | |
| 0.1 to 0.2 | 433 | 6.4% | |
| 0.2 to 0.3 | 432 | 6.3% | |
| 0.3 to 0.4 | 170 | 2.5% | |
| 0.4 to 0.5 | 169 | 2.5% | |
| 0.5 to 0.6 | 80 | 1.2% | |
| 0.6 to 0.7 | 79 | 1.2% | |
| 0.7 to 0.8 | 76 | 1.1% | |
| 0.8 to 0.9 | 75 | 1.1% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of ELP?
Companhia Paranaense de Energia - COPEL American Depositary Shares (each representing four (4) Class B Preferred Shares) (ELP) has an average correlation of about -0.162 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is ELP positively correlated with other stocks?
Not predominantly — 31.7% of pairs are positive and 68.3% are negative. Strong positive correlations (≥0.7) make up 2.2%.
What is the most common correlation range for ELP?
The most common range is -0.3 to -0.2. Weak correlations (−0.3 to 0.3) account for 52.5% of all pairs.
Explore the full interactive correlation distribution for ELP.
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