Friedman Industries Inc. Common Stock (FRD) Correlation Distribution
Across 6,809 rolling correlation observations between Friedman Industries Inc. Common Stock (FRD) and other NASDAQ-listed stocks, 42.9% are positive and 57.1% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is -0.024, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 11.9% and strong negative correlations (≤−0.7) for 2.8%.
- Total observations
- 6,809
- Mean correlation
- -0.024
- Most common range
- -0.5 to -0.4
- Positive pairs
- 42.9%
- Strong positive (≥0.7)
- 11.9%
- Sector
- Steel Works, Blast Furnaces & Rolling & Finishing Mills
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 94 | 1.4% | |
| -0.8 to -0.7 | 94 | 1.4% | |
| -0.7 to -0.6 | 597 | 8.8% | |
| -0.6 to -0.5 | 597 | 8.8% | |
| -0.5 to -0.4 | 655 | 9.6% | |
| -0.4 to -0.3 | 654 | 9.6% | |
| -0.3 to -0.2 | 455 | 6.7% | |
| -0.2 to -0.1 | 455 | 6.7% | |
| -0.1 to 0.0 | 290 | 4.3% | |
| 0.0 to 0.1 | 289 | 4.2% | |
| 0.1 to 0.2 | 282 | 4.1% | |
| 0.2 to 0.3 | 282 | 4.1% | |
| 0.3 to 0.4 | 269 | 4.0% | |
| 0.4 to 0.5 | 269 | 4.0% | |
| 0.5 to 0.6 | 358 | 5.3% | |
| 0.6 to 0.7 | 357 | 5.2% | |
| 0.7 to 0.8 | 406 | 6.0% | |
| 0.8 to 0.9 | 405 | 5.9% | |
| 0.9 to 1.0 | 1 | 0.0% |
Frequently asked questions
What is the average correlation of FRD?
Friedman Industries Inc. Common Stock (FRD) has an average correlation of about -0.024 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is FRD positively correlated with other stocks?
Not predominantly — 42.9% of pairs are positive and 57.1% are negative. Strong positive correlations (≥0.7) make up 11.9%.
What is the most common correlation range for FRD?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 30.2% of all pairs.
Explore the full interactive correlation distribution for FRD.
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