Western Asset High Yield Defined Opportunity Fund Inc. (HYI) Correlation Distribution
Across 6,809 rolling correlation observations between Western Asset High Yield Defined Opportunity Fund Inc. (HYI) and other NASDAQ-listed stocks, 69.5% are positive and 30.5% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.319, indicating a clearly positive co-movement bias. Strong positive correlations (≥0.7) account for 37.8% and strong negative correlations (≤−0.7) for 3.1%.
- Total observations
- 6,809
- Mean correlation
- 0.319
- Most common range
- 0.7 to 0.8
- Positive pairs
- 69.5%
- Strong positive (≥0.7)
- 37.8%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 2 | 0.0% | |
| -0.9 to -0.8 | 105 | 1.5% | |
| -0.8 to -0.7 | 105 | 1.5% | |
| -0.7 to -0.6 | 298 | 4.4% | |
| -0.6 to -0.5 | 298 | 4.4% | |
| -0.5 to -0.4 | 259 | 3.8% | |
| -0.4 to -0.3 | 258 | 3.8% | |
| -0.3 to -0.2 | 260 | 3.8% | |
| -0.2 to -0.1 | 259 | 3.8% | |
| -0.1 to 0.0 | 232 | 3.4% | |
| 0.0 to 0.1 | 232 | 3.4% | |
| 0.1 to 0.2 | 250 | 3.7% | |
| 0.2 to 0.3 | 250 | 3.7% | |
| 0.3 to 0.4 | 296 | 4.3% | |
| 0.4 to 0.5 | 295 | 4.3% | |
| 0.5 to 0.6 | 420 | 6.2% | |
| 0.6 to 0.7 | 419 | 6.2% | |
| 0.7 to 0.8 | 903 | 13.3% | |
| 0.8 to 0.9 | 903 | 13.3% | |
| 0.9 to 1.0 | 765 | 11.2% |
Frequently asked questions
What is the average correlation of HYI?
Western Asset High Yield Defined Opportunity Fund Inc. (HYI) has an average correlation of about 0.319 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is HYI positively correlated with other stocks?
Mostly yes — 69.5% of pairs are positive and 30.5% are negative. Strong positive correlations (≥0.7) make up 37.8%.
What is the most common correlation range for HYI?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 21.8% of all pairs.
Explore the full interactive correlation distribution for HYI.
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