Legend Biotech Corporation American Depositary Shares (LEGN) Correlation Distribution
Across 6,809 rolling correlation observations between Legend Biotech Corporation American Depositary Shares (LEGN) and other NASDAQ-listed stocks, 34.3% are positive and 65.7% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is -0.142, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 2.2% and strong negative correlations (≤−0.7) for 2.6%.
- Total observations
- 6,809
- Mean correlation
- -0.142
- Most common range
- -0.5 to -0.4
- Positive pairs
- 34.3%
- Strong positive (≥0.7)
- 2.2%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 3 | 0.0% | |
| -0.9 to -0.8 | 87 | 1.3% | |
| -0.8 to -0.7 | 86 | 1.3% | |
| -0.7 to -0.6 | 641 | 9.4% | |
| -0.6 to -0.5 | 641 | 9.4% | |
| -0.5 to -0.4 | 702 | 10.3% | |
| -0.4 to -0.3 | 702 | 10.3% | |
| -0.3 to -0.2 | 584 | 8.6% | |
| -0.2 to -0.1 | 584 | 8.6% | |
| -0.1 to 0.0 | 444 | 6.5% | |
| 0.0 to 0.1 | 443 | 6.5% | |
| 0.1 to 0.2 | 388 | 5.7% | |
| 0.2 to 0.3 | 387 | 5.7% | |
| 0.3 to 0.4 | 284 | 4.2% | |
| 0.4 to 0.5 | 284 | 4.2% | |
| 0.5 to 0.6 | 200 | 2.9% | |
| 0.6 to 0.7 | 200 | 2.9% | |
| 0.7 to 0.8 | 75 | 1.1% | |
| 0.8 to 0.9 | 74 | 1.1% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of LEGN?
Legend Biotech Corporation American Depositary Shares (LEGN) has an average correlation of about -0.142 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is LEGN positively correlated with other stocks?
Not predominantly — 34.3% of pairs are positive and 65.7% are negative. Strong positive correlations (≥0.7) make up 2.2%.
What is the most common correlation range for LEGN?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 41.6% of all pairs.
Explore the full interactive correlation distribution for LEGN.
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