ESSA Bancorp, Inc. (ESSA) Correlation Distribution
Across 6,809 rolling correlation observations between ESSA Bancorp, Inc. (ESSA) and other NASDAQ-listed stocks, 44.4% are positive and 55.6% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is -0.014, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 2.3% and strong negative correlations (≤−0.7) for 0.1%.
- Total observations
- 6,809
- Mean correlation
- -0.014
- Most common range
- -0.5 to -0.4
- Positive pairs
- 44.4%
- Strong positive (≥0.7)
- 2.3%
- Sector
- Savings Institutions, Not Federally Chartered
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 | 301 | 4.4% | |
| -0.6 to -0.5 | 301 | 4.4% | |
| -0.5 to -0.4 | 673 | 9.9% | |
| -0.4 to -0.3 | 673 | 9.9% | |
| -0.3 to -0.2 | 665 | 9.8% | |
| -0.2 to -0.1 | 665 | 9.8% | |
| -0.1 to 0.0 | 502 | 7.4% | |
| 0.0 to 0.1 | 502 | 7.4% | |
| 0.1 to 0.2 | 374 | 5.5% | |
| 0.2 to 0.3 | 374 | 5.5% | |
| 0.3 to 0.4 | 424 | 6.2% | |
| 0.4 to 0.5 | 424 | 6.2% | |
| 0.5 to 0.6 | 384 | 5.6% | |
| 0.6 to 0.7 | 384 | 5.6% | |
| 0.7 to 0.8 | 79 | 1.2% | |
| 0.8 to 0.9 | 79 | 1.2% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of ESSA?
ESSA Bancorp, Inc. (ESSA) has an average correlation of about -0.014 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is ESSA positively correlated with other stocks?
Not predominantly — 44.4% of pairs are positive and 55.6% are negative. Strong positive correlations (≥0.7) make up 2.3%.
What is the most common correlation range for ESSA?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 45.3% of all pairs.
Explore the full interactive correlation distribution for ESSA.
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