Mesa Royalty Trust (MTR) Correlation Distribution
Across 6,809 rolling correlation observations between Mesa Royalty Trust (MTR) and other NASDAQ-listed stocks, 30.3% are positive and 69.7% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is -0.183, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 3.2% and strong negative correlations (≤−0.7) for 6.5%.
- Total observations
- 6,809
- Mean correlation
- -0.183
- Most common range
- -0.5 to -0.4
- Positive pairs
- 30.3%
- Strong positive (≥0.7)
- 3.2%
- Sector
- Oil Royalty Traders
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 3 | 0.0% | |
| -0.9 to -0.8 | 219 | 3.2% | |
| -0.8 to -0.7 | 218 | 3.2% | |
| -0.7 to -0.6 | 632 | 9.3% | |
| -0.6 to -0.5 | 631 | 9.3% | |
| -0.5 to -0.4 | 711 | 10.4% | |
| -0.4 to -0.3 | 710 | 10.4% | |
| -0.3 to -0.2 | 599 | 8.8% | |
| -0.2 to -0.1 | 598 | 8.8% | |
| -0.1 to 0.0 | 423 | 6.2% | |
| 0.0 to 0.1 | 423 | 6.2% | |
| 0.1 to 0.2 | 331 | 4.9% | |
| 0.2 to 0.3 | 330 | 4.8% | |
| 0.3 to 0.4 | 229 | 3.4% | |
| 0.4 to 0.5 | 229 | 3.4% | |
| 0.5 to 0.6 | 152 | 2.2% | |
| 0.6 to 0.7 | 151 | 2.2% | |
| 0.7 to 0.8 | 104 | 1.5% | |
| 0.8 to 0.9 | 103 | 1.5% | |
| 0.9 to 1.0 | 13 | 0.2% |
Frequently asked questions
What is the average correlation of MTR?
Mesa Royalty Trust (MTR) has an average correlation of about -0.183 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is MTR positively correlated with other stocks?
Not predominantly — 30.3% of pairs are positive and 69.7% are negative. Strong positive correlations (≥0.7) make up 3.2%.
What is the most common correlation range for MTR?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 39.7% of all pairs.
Explore the full interactive correlation distribution for MTR.
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