New Fortress Energy Inc. Class A Common Stock (NFE) Correlation Distribution
Across 6,809 rolling correlation observations between New Fortress Energy Inc. Class A Common Stock (NFE) and other NASDAQ-listed stocks, 58.3% are positive and 41.7% are negative. The most common correlation range is 0.3 to 0.4, and the average pairwise correlation is 0.038, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 2.3% and strong negative correlations (≤−0.7) for 4.7%.
- Total observations
- 6,809
- Mean correlation
- 0.038
- Most common range
- 0.3 to 0.4
- Positive pairs
- 58.3%
- Strong positive (≥0.7)
- 2.3%
- Sector
- Natural Gas Distribution
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 4 | 0.1% | |
| -0.9 to -0.8 | 157 | 2.3% | |
| -0.8 to -0.7 | 157 | 2.3% | |
| -0.7 to -0.6 | 374 | 5.5% | |
| -0.6 to -0.5 | 373 | 5.5% | |
| -0.5 to -0.4 | 326 | 4.8% | |
| -0.4 to -0.3 | 325 | 4.8% | |
| -0.3 to -0.2 | 343 | 5.0% | |
| -0.2 to -0.1 | 343 | 5.0% | |
| -0.1 to 0.0 | 440 | 6.5% | |
| 0.0 to 0.1 | 440 | 6.5% | |
| 0.1 to 0.2 | 615 | 9.0% | |
| 0.2 to 0.3 | 615 | 9.0% | |
| 0.3 to 0.4 | 747 | 11.0% | |
| 0.4 to 0.5 | 747 | 11.0% | |
| 0.5 to 0.6 | 322 | 4.7% | |
| 0.6 to 0.7 | 322 | 4.7% | |
| 0.7 to 0.8 | 79 | 1.2% | |
| 0.8 to 0.9 | 79 | 1.2% | |
| 0.9 to 1.0 | 1 | 0.0% |
Frequently asked questions
What is the average correlation of NFE?
New Fortress Energy Inc. Class A Common Stock (NFE) has an average correlation of about 0.038 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is NFE positively correlated with other stocks?
Mostly yes — 58.3% of pairs are positive and 41.7% are negative. Strong positive correlations (≥0.7) make up 2.3%.
What is the most common correlation range for NFE?
The most common range is 0.3 to 0.4. Weak correlations (−0.3 to 0.3) account for 41.1% of all pairs.
Explore the full interactive correlation distribution for NFE.
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