NEX (NEX) Correlation Distribution
Across 6,245 rolling correlation observations between NEX (NEX) and other NASDAQ-listed stocks, 35.6% are positive and 64.4% are negative. The most common correlation range is -0.9 to -0.8, and the average pairwise correlation is -0.205, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 7.8% and strong negative correlations (≤−0.7) for 26.9%.
- Total observations
- 6,245
- Mean correlation
- -0.205
- Most common range
- -0.9 to -0.8
- Positive pairs
- 35.6%
- Strong positive (≥0.7)
- 7.8%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 24 | 0.4% | |
| -0.9 to -0.8 | 828 | 13.3% | |
| -0.8 to -0.7 | 828 | 13.3% | |
| -0.7 to -0.6 | 483 | 7.7% | |
| -0.6 to -0.5 | 483 | 7.7% | |
| -0.5 to -0.4 | 305 | 4.9% | |
| -0.4 to -0.3 | 304 | 4.9% | |
| -0.3 to -0.2 | 259 | 4.1% | |
| -0.2 to -0.1 | 259 | 4.1% | |
| -0.1 to 0.0 | 246 | 3.9% | |
| 0.0 to 0.1 | 245 | 3.9% | |
| 0.1 to 0.2 | 257 | 4.1% | |
| 0.2 to 0.3 | 257 | 4.1% | |
| 0.3 to 0.4 | 247 | 4.0% | |
| 0.4 to 0.5 | 247 | 4.0% | |
| 0.5 to 0.6 | 245 | 3.9% | |
| 0.6 to 0.7 | 244 | 3.9% | |
| 0.7 to 0.8 | 202 | 3.2% | |
| 0.8 to 0.9 | 201 | 3.2% | |
| 0.9 to 1.0 | 81 | 1.3% |
Frequently asked questions
What is the average correlation of NEX?
NEX (NEX) has an average correlation of about -0.205 with other NASDAQ stocks, based on 6,245 pairwise observations.
Is NEX positively correlated with other stocks?
Not predominantly — 35.6% of pairs are positive and 64.4% are negative. Strong positive correlations (≥0.7) make up 7.8%.
What is the most common correlation range for NEX?
The most common range is -0.9 to -0.8. Weak correlations (−0.3 to 0.3) account for 24.4% of all pairs.
Explore the full interactive correlation distribution for NEX.
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