Hess Corporation (HES) Correlation Distribution
Across 6,809 rolling correlation observations between Hess Corporation (HES) and other NASDAQ-listed stocks, 35.9% are positive and 64.1% are negative. The most common correlation range is -0.9 to -0.8, and the average pairwise correlation is -0.211, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 9% and strong negative correlations (≤−0.7) for 31.2%.
- Total observations
- 6,809
- Mean correlation
- -0.211
- Most common range
- -0.9 to -0.8
- Positive pairs
- 35.9%
- Strong positive (≥0.7)
- 9%
- Sector
- Petroleum Refining
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 199 | 2.9% | |
| -0.9 to -0.8 | 962 | 14.1% | |
| -0.8 to -0.7 | 962 | 14.1% | |
| -0.7 to -0.6 | 442 | 6.5% | |
| -0.6 to -0.5 | 441 | 6.5% | |
| -0.5 to -0.4 | 284 | 4.2% | |
| -0.4 to -0.3 | 283 | 4.2% | |
| -0.3 to -0.2 | 270 | 4.0% | |
| -0.2 to -0.1 | 269 | 4.0% | |
| -0.1 to 0.0 | 253 | 3.7% | |
| 0.0 to 0.1 | 252 | 3.7% | |
| 0.1 to 0.2 | 233 | 3.4% | |
| 0.2 to 0.3 | 233 | 3.4% | |
| 0.3 to 0.4 | 253 | 3.7% | |
| 0.4 to 0.5 | 253 | 3.7% | |
| 0.5 to 0.6 | 305 | 4.5% | |
| 0.6 to 0.7 | 305 | 4.5% | |
| 0.7 to 0.8 | 280 | 4.1% | |
| 0.8 to 0.9 | 280 | 4.1% | |
| 0.9 to 1.0 | 50 | 0.7% |
Frequently asked questions
What is the average correlation of HES?
Hess Corporation (HES) has an average correlation of about -0.211 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is HES positively correlated with other stocks?
Not predominantly — 35.9% of pairs are positive and 64.1% are negative. Strong positive correlations (≥0.7) make up 9%.
What is the most common correlation range for HES?
The most common range is -0.9 to -0.8. Weak correlations (−0.3 to 0.3) account for 22.2% of all pairs.
Explore the full interactive correlation distribution for HES.
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