NEWTL (NEWTL) Correlation Distribution
Across 6,674 rolling correlation observations between NEWTL (NEWTL) and other NASDAQ-listed stocks, 73.3% are positive and 26.7% are negative. The most common correlation range is 0.5 to 0.6, and the average pairwise correlation is 0.304, indicating a clearly positive co-movement bias. Strong positive correlations (≥0.7) account for 18.7% and strong negative correlations (≤−0.7) for 0.6%.
- Total observations
- 6,674
- Mean correlation
- 0.304
- Most common range
- 0.5 to 0.6
- Positive pairs
- 73.3%
- Strong positive (≥0.7)
- 18.7%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 21 | 0.3% | |
| -0.8 to -0.7 | 20 | 0.3% | |
| -0.7 to -0.6 | 138 | 2.1% | |
| -0.6 to -0.5 | 138 | 2.1% | |
| -0.5 to -0.4 | 299 | 4.5% | |
| -0.4 to -0.3 | 298 | 4.5% | |
| -0.3 to -0.2 | 294 | 4.4% | |
| -0.2 to -0.1 | 293 | 4.4% | |
| -0.1 to 0.0 | 284 | 4.3% | |
| 0.0 to 0.1 | 284 | 4.3% | |
| 0.1 to 0.2 | 307 | 4.6% | |
| 0.2 to 0.3 | 307 | 4.6% | |
| 0.3 to 0.4 | 451 | 6.8% | |
| 0.4 to 0.5 | 451 | 6.8% | |
| 0.5 to 0.6 | 922 | 13.8% | |
| 0.6 to 0.7 | 921 | 13.8% | |
| 0.7 to 0.8 | 623 | 9.3% | |
| 0.8 to 0.9 | 623 | 9.3% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of NEWTL?
NEWTL (NEWTL) has an average correlation of about 0.304 with other NASDAQ stocks, based on 6,674 pairwise observations.
Is NEWTL positively correlated with other stocks?
Mostly yes — 73.3% of pairs are positive and 26.7% are negative. Strong positive correlations (≥0.7) make up 18.7%.
What is the most common correlation range for NEWTL?
The most common range is 0.5 to 0.6. Weak correlations (−0.3 to 0.3) account for 26.5% of all pairs.
Explore the full interactive correlation distribution for NEWTL.
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