Kadant Inc. (KAI) Correlation Distribution
Across 6,809 rolling correlation observations between Kadant Inc. (KAI) and other NASDAQ-listed stocks, 41.9% are positive and 58.1% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.039, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 16.8% and strong negative correlations (≤−0.7) for 6.9%.
- Total observations
- 6,809
- Mean correlation
- -0.039
- Most common range
- -0.7 to -0.6
- Positive pairs
- 41.9%
- Strong positive (≥0.7)
- 16.8%
- Sector
- Special Industry Machinery (No Metalworking Machinery)
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 234 | 3.4% | |
| -0.8 to -0.7 | 233 | 3.4% | |
| -0.7 to -0.6 | 719 | 10.6% | |
| -0.6 to -0.5 | 719 | 10.6% | |
| -0.5 to -0.4 | 575 | 8.4% | |
| -0.4 to -0.3 | 574 | 8.4% | |
| -0.3 to -0.2 | 333 | 4.9% | |
| -0.2 to -0.1 | 332 | 4.9% | |
| -0.1 to 0.0 | 237 | 3.5% | |
| 0.0 to 0.1 | 236 | 3.5% | |
| 0.1 to 0.2 | 235 | 3.5% | |
| 0.2 to 0.3 | 234 | 3.4% | |
| 0.3 to 0.4 | 222 | 3.3% | |
| 0.4 to 0.5 | 221 | 3.2% | |
| 0.5 to 0.6 | 280 | 4.1% | |
| 0.6 to 0.7 | 280 | 4.1% | |
| 0.7 to 0.8 | 441 | 6.5% | |
| 0.8 to 0.9 | 440 | 6.5% | |
| 0.9 to 1.0 | 264 | 3.9% |
Frequently asked questions
What is the average correlation of KAI?
Kadant Inc. (KAI) has an average correlation of about -0.039 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is KAI positively correlated with other stocks?
Not predominantly — 41.9% of pairs are positive and 58.1% are negative. Strong positive correlations (≥0.7) make up 16.8%.
What is the most common correlation range for KAI?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 23.6% of all pairs.
Explore the full interactive correlation distribution for KAI.
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