Incannex Healthcare Limited American Depositary Shares (IXHL) Correlation Distribution
Across 6,732 rolling correlation observations between Incannex Healthcare Limited American Depositary Shares (IXHL) and other NASDAQ-listed stocks, 64.8% are positive and 35.2% are negative. The most common correlation range is 0.5 to 0.6, and the average pairwise correlation is 0.198, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 9.4% and strong negative correlations (≤−0.7) for 0.1%.
- Total observations
- 6,732
- Mean correlation
- 0.198
- Most common range
- 0.5 to 0.6
- Positive pairs
- 64.8%
- Strong positive (≥0.7)
- 9.4%
- Sector
- Pharmaceutical Preparations
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 2 | 0.0% | |
| -0.8 to -0.7 | 2 | 0.0% | |
| -0.7 to -0.6 | 127 | 1.9% | |
| -0.6 to -0.5 | 127 | 1.9% | |
| -0.5 to -0.4 | 492 | 7.3% | |
| -0.4 to -0.3 | 492 | 7.3% | |
| -0.3 to -0.2 | 390 | 5.8% | |
| -0.2 to -0.1 | 389 | 5.8% | |
| -0.1 to 0.0 | 348 | 5.2% | |
| 0.0 to 0.1 | 347 | 5.2% | |
| 0.1 to 0.2 | 364 | 5.4% | |
| 0.2 to 0.3 | 363 | 5.4% | |
| 0.3 to 0.4 | 527 | 7.8% | |
| 0.4 to 0.5 | 526 | 7.8% | |
| 0.5 to 0.6 | 800 | 11.9% | |
| 0.6 to 0.7 | 800 | 11.9% | |
| 0.7 to 0.8 | 318 | 4.7% | |
| 0.8 to 0.9 | 318 | 4.7% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of IXHL?
Incannex Healthcare Limited American Depositary Shares (IXHL) has an average correlation of about 0.198 with other NASDAQ stocks, based on 6,732 pairwise observations.
Is IXHL positively correlated with other stocks?
Mostly yes — 64.8% of pairs are positive and 35.2% are negative. Strong positive correlations (≥0.7) make up 9.4%.
What is the most common correlation range for IXHL?
The most common range is 0.5 to 0.6. Weak correlations (−0.3 to 0.3) account for 32.7% of all pairs.
Explore the full interactive correlation distribution for IXHL.
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