Magnolia Oil & Gas Corporation Class A Common Stock (MGY) Correlation Distribution
Across 6,809 rolling correlation observations between Magnolia Oil & Gas Corporation Class A Common Stock (MGY) and other NASDAQ-listed stocks, 41.1% are positive and 58.9% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.112, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 6.9% and strong negative correlations (≤−0.7) for 15.3%.
- Total observations
- 6,809
- Mean correlation
- -0.112
- Most common range
- -0.7 to -0.6
- Positive pairs
- 41.1%
- Strong positive (≥0.7)
- 6.9%
- Sector
- Crude Petroleum & Natural Gas
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 81 | 1.2% | |
| -0.9 to -0.8 | 479 | 7.0% | |
| -0.8 to -0.7 | 479 | 7.0% | |
| -0.7 to -0.6 | 519 | 7.6% | |
| -0.6 to -0.5 | 518 | 7.6% | |
| -0.5 to -0.4 | 433 | 6.4% | |
| -0.4 to -0.3 | 432 | 6.3% | |
| -0.3 to -0.2 | 361 | 5.3% | |
| -0.2 to -0.1 | 361 | 5.3% | |
| -0.1 to 0.0 | 348 | 5.1% | |
| 0.0 to 0.1 | 348 | 5.1% | |
| 0.1 to 0.2 | 314 | 4.6% | |
| 0.2 to 0.3 | 314 | 4.6% | |
| 0.3 to 0.4 | 322 | 4.7% | |
| 0.4 to 0.5 | 321 | 4.7% | |
| 0.5 to 0.6 | 356 | 5.2% | |
| 0.6 to 0.7 | 355 | 5.2% | |
| 0.7 to 0.8 | 212 | 3.1% | |
| 0.8 to 0.9 | 212 | 3.1% | |
| 0.9 to 1.0 | 44 | 0.6% |
Frequently asked questions
What is the average correlation of MGY?
Magnolia Oil & Gas Corporation Class A Common Stock (MGY) has an average correlation of about -0.112 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is MGY positively correlated with other stocks?
Not predominantly — 41.1% of pairs are positive and 58.9% are negative. Strong positive correlations (≥0.7) make up 6.9%.
What is the most common correlation range for MGY?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 30% of all pairs.
Explore the full interactive correlation distribution for MGY.
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