Hitek Global Inc. Class A Ordinary Share (HKIT) Correlation Distribution
Across 6,110 rolling correlation observations between Hitek Global Inc. Class A Ordinary Share (HKIT) and other NASDAQ-listed stocks, 48.4% are positive and 51.6% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is 0.022, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 0.1% and strong negative correlations (≤−0.7) for 0%.
- Total observations
- 6,110
- Mean correlation
- 0.022
- Most common range
- -0.5 to -0.4
- Positive pairs
- 48.4%
- Strong positive (≥0.7)
- 0.1%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 1 | 0.0% | |
| -0.8 to -0.7 | 0 | 0.0% | |
| -0.7 to -0.6 | 60 | 1.0% | |
| -0.6 to -0.5 | 59 | 1.0% | |
| -0.5 to -0.4 | 762 | 12.5% | |
| -0.4 to -0.3 | 762 | 12.5% | |
| -0.3 to -0.2 | 577 | 9.4% | |
| -0.2 to -0.1 | 576 | 9.4% | |
| -0.1 to 0.0 | 357 | 5.8% | |
| 0.0 to 0.1 | 356 | 5.8% | |
| 0.1 to 0.2 | 368 | 6.0% | |
| 0.2 to 0.3 | 368 | 6.0% | |
| 0.3 to 0.4 | 558 | 9.1% | |
| 0.4 to 0.5 | 558 | 9.1% | |
| 0.5 to 0.6 | 370 | 6.1% | |
| 0.6 to 0.7 | 369 | 6.0% | |
| 0.7 to 0.8 | 5 | 0.1% | |
| 0.8 to 0.9 | 4 | 0.1% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of HKIT?
Hitek Global Inc. Class A Ordinary Share (HKIT) has an average correlation of about 0.022 with other NASDAQ stocks, based on 6,110 pairwise observations.
Is HKIT positively correlated with other stocks?
Not predominantly — 48.4% of pairs are positive and 51.6% are negative. Strong positive correlations (≥0.7) make up 0.1%.
What is the most common correlation range for HKIT?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 42.6% of all pairs.
Explore the full interactive correlation distribution for HKIT.
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