Diamondback Energy, Inc. (FANG) Correlation Distribution
Across 6,809 rolling correlation observations between Diamondback Energy, Inc. (FANG) and other NASDAQ-listed stocks, 37.7% are positive and 62.3% are negative. The most common correlation range is -0.9 to -0.8, and the average pairwise correlation is -0.152, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 11.1% and strong negative correlations (≤−0.7) for 21.7%.
- Total observations
- 6,809
- Mean correlation
- -0.152
- Most common range
- -0.9 to -0.8
- Positive pairs
- 37.7%
- Strong positive (≥0.7)
- 11.1%
- Sector
- Crude Petroleum & Natural Gas
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 36 | 0.5% | |
| -0.9 to -0.8 | 722 | 10.6% | |
| -0.8 to -0.7 | 721 | 10.6% | |
| -0.7 to -0.6 | 598 | 8.8% | |
| -0.6 to -0.5 | 597 | 8.8% | |
| -0.5 to -0.4 | 384 | 5.6% | |
| -0.4 to -0.3 | 384 | 5.6% | |
| -0.3 to -0.2 | 279 | 4.1% | |
| -0.2 to -0.1 | 279 | 4.1% | |
| -0.1 to 0.0 | 240 | 3.5% | |
| 0.0 to 0.1 | 239 | 3.5% | |
| 0.1 to 0.2 | 214 | 3.1% | |
| 0.2 to 0.3 | 213 | 3.1% | |
| 0.3 to 0.4 | 237 | 3.5% | |
| 0.4 to 0.5 | 236 | 3.5% | |
| 0.5 to 0.6 | 339 | 5.0% | |
| 0.6 to 0.7 | 338 | 5.0% | |
| 0.7 to 0.8 | 349 | 5.1% | |
| 0.8 to 0.9 | 348 | 5.1% | |
| 0.9 to 1.0 | 56 | 0.8% |
Frequently asked questions
What is the average correlation of FANG?
Diamondback Energy, Inc. (FANG) has an average correlation of about -0.152 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is FANG positively correlated with other stocks?
Not predominantly — 37.7% of pairs are positive and 62.3% are negative. Strong positive correlations (≥0.7) make up 11.1%.
What is the most common correlation range for FANG?
The most common range is -0.9 to -0.8. Weak correlations (−0.3 to 0.3) account for 21.5% of all pairs.
Explore the full interactive correlation distribution for FANG.
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