Phoenix New Media Limited American Depositary Shares (each representing forty-eight (48) Class A Ordinary Shares) (FENG) Correlation Distribution
Across 6,809 rolling correlation observations between Phoenix New Media Limited American Depositary Shares (each representing forty-eight (48) Class A Ordinary Shares) (FENG) and other NASDAQ-listed stocks, 65.4% are positive and 34.6% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.239, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 31.6% and strong negative correlations (≤−0.7) for 5.6%.
- Total observations
- 6,809
- Mean correlation
- 0.239
- Most common range
- 0.7 to 0.8
- Positive pairs
- 65.4%
- Strong positive (≥0.7)
- 31.6%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 2 | 0.0% | |
| -0.9 to -0.8 | 189 | 2.8% | |
| -0.8 to -0.7 | 189 | 2.8% | |
| -0.7 to -0.6 | 330 | 4.8% | |
| -0.6 to -0.5 | 329 | 4.8% | |
| -0.5 to -0.4 | 305 | 4.5% | |
| -0.4 to -0.3 | 304 | 4.5% | |
| -0.3 to -0.2 | 236 | 3.5% | |
| -0.2 to -0.1 | 236 | 3.5% | |
| -0.1 to 0.0 | 235 | 3.5% | |
| 0.0 to 0.1 | 235 | 3.5% | |
| 0.1 to 0.2 | 261 | 3.8% | |
| 0.2 to 0.3 | 261 | 3.8% | |
| 0.3 to 0.4 | 309 | 4.5% | |
| 0.4 to 0.5 | 309 | 4.5% | |
| 0.5 to 0.6 | 463 | 6.8% | |
| 0.6 to 0.7 | 463 | 6.8% | |
| 0.7 to 0.8 | 954 | 14.0% | |
| 0.8 to 0.9 | 953 | 14.0% | |
| 0.9 to 1.0 | 246 | 3.6% |
Frequently asked questions
What is the average correlation of FENG?
Phoenix New Media Limited American Depositary Shares (each representing forty-eight (48) Class A Ordinary Shares) (FENG) has an average correlation of about 0.239 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is FENG positively correlated with other stocks?
Mostly yes — 65.4% of pairs are positive and 34.6% are negative. Strong positive correlations (≥0.7) make up 31.6%.
What is the most common correlation range for FENG?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 21.5% of all pairs.
Explore the full interactive correlation distribution for FENG.
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