Hennessy Advisors, Inc. 4.875% Notes due 2026 (HNNAZ) Correlation Distribution
Across 6,320 rolling correlation observations between Hennessy Advisors, Inc. 4.875% Notes due 2026 (HNNAZ) and other NASDAQ-listed stocks, 75.4% are positive and 24.6% are negative. The most common correlation range is 0.5 to 0.6, and the average pairwise correlation is 0.324, indicating a clearly positive co-movement bias. Strong positive correlations (≥0.7) account for 22.5% and strong negative correlations (≤−0.7) for 1.2%.
- Total observations
- 6,320
- Mean correlation
- 0.324
- Most common range
- 0.5 to 0.6
- Positive pairs
- 75.4%
- Strong positive (≥0.7)
- 22.5%
- Sector
- Investment Advice
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 1 | 0.0% | |
| -0.9 to -0.8 | 38 | 0.6% | |
| -0.8 to -0.7 | 37 | 0.6% | |
| -0.7 to -0.6 | 126 | 2.0% | |
| -0.6 to -0.5 | 126 | 2.0% | |
| -0.5 to -0.4 | 191 | 3.0% | |
| -0.4 to -0.3 | 190 | 3.0% | |
| -0.3 to -0.2 | 268 | 4.2% | |
| -0.2 to -0.1 | 268 | 4.2% | |
| -0.1 to 0.0 | 309 | 4.9% | |
| 0.0 to 0.1 | 308 | 4.9% | |
| 0.1 to 0.2 | 333 | 5.3% | |
| 0.2 to 0.3 | 332 | 5.3% | |
| 0.3 to 0.4 | 442 | 7.0% | |
| 0.4 to 0.5 | 441 | 7.0% | |
| 0.5 to 0.6 | 744 | 11.8% | |
| 0.6 to 0.7 | 744 | 11.8% | |
| 0.7 to 0.8 | 704 | 11.1% | |
| 0.8 to 0.9 | 704 | 11.1% | |
| 0.9 to 1.0 | 14 | 0.2% |
Frequently asked questions
What is the average correlation of HNNAZ?
Hennessy Advisors, Inc. 4.875% Notes due 2026 (HNNAZ) has an average correlation of about 0.324 with other NASDAQ stocks, based on 6,320 pairwise observations.
Is HNNAZ positively correlated with other stocks?
Mostly yes — 75.4% of pairs are positive and 24.6% are negative. Strong positive correlations (≥0.7) make up 22.5%.
What is the most common correlation range for HNNAZ?
The most common range is 0.5 to 0.6. Weak correlations (−0.3 to 0.3) account for 28.8% of all pairs.
Explore the full interactive correlation distribution for HNNAZ.
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