NewtekOne, Inc. 5.50% Notes Due 2026 (NEWTZ) Correlation Distribution
Across 6,743 rolling correlation observations between NewtekOne, Inc. 5.50% Notes Due 2026 (NEWTZ) and other NASDAQ-listed stocks, 72.4% are positive and 27.6% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.327, indicating a clearly positive co-movement bias. Strong positive correlations (≥0.7) account for 33.3% and strong negative correlations (≤−0.7) for 2.7%.
- Total observations
- 6,743
- Mean correlation
- 0.327
- Most common range
- 0.7 to 0.8
- Positive pairs
- 72.4%
- Strong positive (≥0.7)
- 33.3%
- Sector
- National Commercial Banks
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 91 | 1.3% | |
| -0.8 to -0.7 | 91 | 1.3% | |
| -0.7 to -0.6 | 205 | 3.0% | |
| -0.6 to -0.5 | 204 | 3.0% | |
| -0.5 to -0.4 | 258 | 3.8% | |
| -0.4 to -0.3 | 258 | 3.8% | |
| -0.3 to -0.2 | 263 | 3.9% | |
| -0.2 to -0.1 | 263 | 3.9% | |
| -0.1 to 0.0 | 229 | 3.4% | |
| 0.0 to 0.1 | 228 | 3.4% | |
| 0.1 to 0.2 | 260 | 3.9% | |
| 0.2 to 0.3 | 259 | 3.8% | |
| 0.3 to 0.4 | 330 | 4.9% | |
| 0.4 to 0.5 | 329 | 4.9% | |
| 0.5 to 0.6 | 615 | 9.1% | |
| 0.6 to 0.7 | 614 | 9.1% | |
| 0.7 to 0.8 | 1,101 | 16.3% | |
| 0.8 to 0.9 | 1,101 | 16.3% | |
| 0.9 to 1.0 | 44 | 0.7% |
Frequently asked questions
What is the average correlation of NEWTZ?
NewtekOne, Inc. 5.50% Notes Due 2026 (NEWTZ) has an average correlation of about 0.327 with other NASDAQ stocks, based on 6,743 pairwise observations.
Is NEWTZ positively correlated with other stocks?
Mostly yes — 72.4% of pairs are positive and 27.6% are negative. Strong positive correlations (≥0.7) make up 33.3%.
What is the most common correlation range for NEWTZ?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 22.3% of all pairs.
Explore the full interactive correlation distribution for NEWTZ.
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