New Found Gold Corp (NFGC) Correlation Distribution
Across 6,800 rolling correlation observations between New Found Gold Corp (NFGC) and other NASDAQ-listed stocks, 66% are positive and 34% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.22, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 26.5% and strong negative correlations (≤−0.7) for 8.3%.
- Total observations
- 6,800
- Mean correlation
- 0.22
- Most common range
- 0.7 to 0.8
- Positive pairs
- 66%
- Strong positive (≥0.7)
- 26.5%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 16 | 0.2% | |
| -0.9 to -0.8 | 276 | 4.1% | |
| -0.8 to -0.7 | 275 | 4.0% | |
| -0.7 to -0.6 | 311 | 4.6% | |
| -0.6 to -0.5 | 311 | 4.6% | |
| -0.5 to -0.4 | 251 | 3.7% | |
| -0.4 to -0.3 | 250 | 3.7% | |
| -0.3 to -0.2 | 208 | 3.1% | |
| -0.2 to -0.1 | 207 | 3.0% | |
| -0.1 to 0.0 | 207 | 3.0% | |
| 0.0 to 0.1 | 206 | 3.0% | |
| 0.1 to 0.2 | 225 | 3.3% | |
| 0.2 to 0.3 | 225 | 3.3% | |
| 0.3 to 0.4 | 353 | 5.2% | |
| 0.4 to 0.5 | 352 | 5.2% | |
| 0.5 to 0.6 | 663 | 9.8% | |
| 0.6 to 0.7 | 663 | 9.8% | |
| 0.7 to 0.8 | 891 | 13.1% | |
| 0.8 to 0.9 | 891 | 13.1% | |
| 0.9 to 1.0 | 19 | 0.3% |
Frequently asked questions
What is the average correlation of NFGC?
New Found Gold Corp (NFGC) has an average correlation of about 0.22 with other NASDAQ stocks, based on 6,800 pairwise observations.
Is NFGC positively correlated with other stocks?
Mostly yes — 66% of pairs are positive and 34% are negative. Strong positive correlations (≥0.7) make up 26.5%.
What is the most common correlation range for NFGC?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 18.8% of all pairs.
Explore the full interactive correlation distribution for NFGC.
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