NaaS Technology Inc. American Depositary Shares (NAAS) Correlation Distribution
Across 6,670 rolling correlation observations between NaaS Technology Inc. American Depositary Shares (NAAS) and other NASDAQ-listed stocks, 51.6% are positive and 48.4% are negative. The most common correlation range is -0.9 to -0.8, and the average pairwise correlation is 0.013, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 13.6% and strong negative correlations (≤−0.7) for 15.4%.
- Total observations
- 6,670
- Mean correlation
- 0.013
- Most common range
- -0.9 to -0.8
- Positive pairs
- 51.6%
- Strong positive (≥0.7)
- 13.6%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 4 | 0.1% | |
| -0.9 to -0.8 | 511 | 7.7% | |
| -0.8 to -0.7 | 510 | 7.6% | |
| -0.7 to -0.6 | 400 | 6.0% | |
| -0.6 to -0.5 | 399 | 6.0% | |
| -0.5 to -0.4 | 295 | 4.4% | |
| -0.4 to -0.3 | 295 | 4.4% | |
| -0.3 to -0.2 | 277 | 4.2% | |
| -0.2 to -0.1 | 277 | 4.2% | |
| -0.1 to 0.0 | 260 | 3.9% | |
| 0.0 to 0.1 | 259 | 3.9% | |
| 0.1 to 0.2 | 270 | 4.0% | |
| 0.2 to 0.3 | 269 | 4.0% | |
| 0.3 to 0.4 | 363 | 5.4% | |
| 0.4 to 0.5 | 362 | 5.4% | |
| 0.5 to 0.6 | 506 | 7.6% | |
| 0.6 to 0.7 | 505 | 7.6% | |
| 0.7 to 0.8 | 442 | 6.6% | |
| 0.8 to 0.9 | 441 | 6.6% | |
| 0.9 to 1.0 | 25 | 0.4% |
Frequently asked questions
What is the average correlation of NAAS?
NaaS Technology Inc. American Depositary Shares (NAAS) has an average correlation of about 0.013 with other NASDAQ stocks, based on 6,670 pairwise observations.
Is NAAS positively correlated with other stocks?
Mostly yes — 51.6% of pairs are positive and 48.4% are negative. Strong positive correlations (≥0.7) make up 13.6%.
What is the most common correlation range for NAAS?
The most common range is -0.9 to -0.8. Weak correlations (−0.3 to 0.3) account for 24.2% of all pairs.
Explore the full interactive correlation distribution for NAAS.
Open interactive dashboard →