Smart Share Global Limited American Depositary Shares (EM) Correlation Distribution
Across 6,806 rolling correlation observations between Smart Share Global Limited American Depositary Shares (EM) and other NASDAQ-listed stocks, 71.7% are positive and 28.3% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.314, indicating a clearly positive co-movement bias. Strong positive correlations (≥0.7) account for 27.5% and strong negative correlations (≤−0.7) for 0.7%.
- Total observations
- 6,806
- Mean correlation
- 0.314
- Most common range
- 0.7 to 0.8
- Positive pairs
- 71.7%
- Strong positive (≥0.7)
- 27.5%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 24 | 0.4% | |
| -0.8 to -0.7 | 24 | 0.4% | |
| -0.7 to -0.6 | 169 | 2.5% | |
| -0.6 to -0.5 | 169 | 2.5% | |
| -0.5 to -0.4 | 326 | 4.8% | |
| -0.4 to -0.3 | 326 | 4.8% | |
| -0.3 to -0.2 | 303 | 4.5% | |
| -0.2 to -0.1 | 302 | 4.4% | |
| -0.1 to 0.0 | 286 | 4.2% | |
| 0.0 to 0.1 | 285 | 4.2% | |
| 0.1 to 0.2 | 310 | 4.6% | |
| 0.2 to 0.3 | 310 | 4.6% | |
| 0.3 to 0.4 | 430 | 6.3% | |
| 0.4 to 0.5 | 430 | 6.3% | |
| 0.5 to 0.6 | 620 | 9.1% | |
| 0.6 to 0.7 | 620 | 9.1% | |
| 0.7 to 0.8 | 773 | 11.4% | |
| 0.8 to 0.9 | 773 | 11.4% | |
| 0.9 to 1.0 | 326 | 4.8% |
Frequently asked questions
What is the average correlation of EM?
Smart Share Global Limited American Depositary Shares (EM) has an average correlation of about 0.314 with other NASDAQ stocks, based on 6,806 pairwise observations.
Is EM positively correlated with other stocks?
Mostly yes — 71.7% of pairs are positive and 28.3% are negative. Strong positive correlations (≥0.7) make up 27.5%.
What is the most common correlation range for EM?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 26.4% of all pairs.
Explore the full interactive correlation distribution for EM.
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