HERITAGE GLOBAL INC (HGBL) Correlation Distribution
Across 6,808 rolling correlation observations between HERITAGE GLOBAL INC (HGBL) and other NASDAQ-listed stocks, 38.7% are positive and 61.3% are negative. The most common correlation range is -0.1 to 0.0, and the average pairwise correlation is -0.072, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 1.7% and strong negative correlations (≤−0.7) for 1.2%.
- Total observations
- 6,808
- Mean correlation
- -0.072
- Most common range
- -0.1 to 0.0
- Positive pairs
- 38.7%
- Strong positive (≥0.7)
- 1.7%
- Sector
- Services-Business Services, Nec
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 1 | 0.0% | |
| -0.9 to -0.8 | 42 | 0.6% | |
| -0.8 to -0.7 | 42 | 0.6% | |
| -0.7 to -0.6 | 210 | 3.1% | |
| -0.6 to -0.5 | 210 | 3.1% | |
| -0.5 to -0.4 | 505 | 7.4% | |
| -0.4 to -0.3 | 504 | 7.4% | |
| -0.3 to -0.2 | 866 | 12.7% | |
| -0.2 to -0.1 | 865 | 12.7% | |
| -0.1 to 0.0 | 926 | 13.6% | |
| 0.0 to 0.1 | 926 | 13.6% | |
| 0.1 to 0.2 | 495 | 7.3% | |
| 0.2 to 0.3 | 495 | 7.3% | |
| 0.3 to 0.4 | 189 | 2.8% | |
| 0.4 to 0.5 | 189 | 2.8% | |
| 0.5 to 0.6 | 114 | 1.7% | |
| 0.6 to 0.7 | 114 | 1.7% | |
| 0.7 to 0.8 | 54 | 0.8% | |
| 0.8 to 0.9 | 53 | 0.8% | |
| 0.9 to 1.0 | 8 | 0.1% |
Frequently asked questions
What is the average correlation of HGBL?
HERITAGE GLOBAL INC (HGBL) has an average correlation of about -0.072 with other NASDAQ stocks, based on 6,808 pairwise observations.
Is HGBL positively correlated with other stocks?
Not predominantly — 38.7% of pairs are positive and 61.3% are negative. Strong positive correlations (≥0.7) make up 1.7%.
What is the most common correlation range for HGBL?
The most common range is -0.1 to 0.0. Weak correlations (−0.3 to 0.3) account for 67.2% of all pairs.
Explore the full interactive correlation distribution for HGBL.
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