ESAB Corporation (ESAB) Correlation Distribution
Across 6,724 rolling correlation observations between ESAB Corporation (ESAB) and other NASDAQ-listed stocks, 46.1% are positive and 53.9% are negative. The most common correlation range is -0.9 to -0.8, and the average pairwise correlation is -0.024, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 21.5% and strong negative correlations (≤−0.7) for 19.5%.
- Total observations
- 6,724
- Mean correlation
- -0.024
- Most common range
- -0.9 to -0.8
- Positive pairs
- 46.1%
- Strong positive (≥0.7)
- 21.5%
- Sector
- General Industrial Machinery & Equipment, Nec
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 93 | 1.4% | |
| -0.9 to -0.8 | 608 | 9.0% | |
| -0.8 to -0.7 | 608 | 9.0% | |
| -0.7 to -0.6 | 481 | 7.2% | |
| -0.6 to -0.5 | 480 | 7.1% | |
| -0.5 to -0.4 | 319 | 4.7% | |
| -0.4 to -0.3 | 318 | 4.7% | |
| -0.3 to -0.2 | 237 | 3.5% | |
| -0.2 to -0.1 | 236 | 3.5% | |
| -0.1 to 0.0 | 243 | 3.6% | |
| 0.0 to 0.1 | 243 | 3.6% | |
| 0.1 to 0.2 | 200 | 3.0% | |
| 0.2 to 0.3 | 200 | 3.0% | |
| 0.3 to 0.4 | 227 | 3.4% | |
| 0.4 to 0.5 | 227 | 3.4% | |
| 0.5 to 0.6 | 278 | 4.1% | |
| 0.6 to 0.7 | 277 | 4.1% | |
| 0.7 to 0.8 | 482 | 7.2% | |
| 0.8 to 0.9 | 482 | 7.2% | |
| 0.9 to 1.0 | 485 | 7.2% |
Frequently asked questions
What is the average correlation of ESAB?
ESAB Corporation (ESAB) has an average correlation of about -0.024 with other NASDAQ stocks, based on 6,724 pairwise observations.
Is ESAB positively correlated with other stocks?
Not predominantly — 46.1% of pairs are positive and 53.9% are negative. Strong positive correlations (≥0.7) make up 21.5%.
What is the most common correlation range for ESAB?
The most common range is -0.9 to -0.8. Weak correlations (−0.3 to 0.3) account for 20.2% of all pairs.
Explore the full interactive correlation distribution for ESAB.
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