Noble Corporation plc (NE) Correlation Distribution
Across 6,806 rolling correlation observations between Noble Corporation plc (NE) and other NASDAQ-listed stocks, 33.1% are positive and 66.9% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.171, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 4% and strong negative correlations (≤−0.7) for 6%.
- Total observations
- 6,806
- Mean correlation
- -0.171
- Most common range
- -0.7 to -0.6
- Positive pairs
- 33.1%
- Strong positive (≥0.7)
- 4%
- Sector
- Drilling Oil & Gas Wells
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 1 | 0.0% | |
| -0.9 to -0.8 | 203 | 3.0% | |
| -0.8 to -0.7 | 202 | 3.0% | |
| -0.7 to -0.6 | 772 | 11.3% | |
| -0.6 to -0.5 | 772 | 11.3% | |
| -0.5 to -0.4 | 681 | 10.0% | |
| -0.4 to -0.3 | 680 | 10.0% | |
| -0.3 to -0.2 | 432 | 6.3% | |
| -0.2 to -0.1 | 432 | 6.3% | |
| -0.1 to 0.0 | 378 | 5.6% | |
| 0.0 to 0.1 | 377 | 5.5% | |
| 0.1 to 0.2 | 336 | 4.9% | |
| 0.2 to 0.3 | 336 | 4.9% | |
| 0.3 to 0.4 | 272 | 4.0% | |
| 0.4 to 0.5 | 272 | 4.0% | |
| 0.5 to 0.6 | 194 | 2.9% | |
| 0.6 to 0.7 | 193 | 2.8% | |
| 0.7 to 0.8 | 131 | 1.9% | |
| 0.8 to 0.9 | 130 | 1.9% | |
| 0.9 to 1.0 | 12 | 0.2% |
Frequently asked questions
What is the average correlation of NE?
Noble Corporation plc (NE) has an average correlation of about -0.171 with other NASDAQ stocks, based on 6,806 pairwise observations.
Is NE positively correlated with other stocks?
Not predominantly — 33.1% of pairs are positive and 66.9% are negative. Strong positive correlations (≥0.7) make up 4%.
What is the most common correlation range for NE?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 33.7% of all pairs.
Explore the full interactive correlation distribution for NE.
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