NGL ENERGY PARTNERS LP (NGL) Correlation Distribution
Across 6,809 rolling correlation observations between NGL ENERGY PARTNERS LP (NGL) and other NASDAQ-listed stocks, 34.7% are positive and 65.3% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is -0.126, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 4.4% and strong negative correlations (≤−0.7) for 5%.
- Total observations
- 6,809
- Mean correlation
- -0.126
- Most common range
- -0.5 to -0.4
- Positive pairs
- 34.7%
- Strong positive (≥0.7)
- 4.4%
- Sector
- Natural Gas Transmission
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 1 | 0.0% | |
| -0.9 to -0.8 | 171 | 2.5% | |
| -0.8 to -0.7 | 170 | 2.5% | |
| -0.7 to -0.6 | 566 | 8.3% | |
| -0.6 to -0.5 | 565 | 8.3% | |
| -0.5 to -0.4 | 822 | 12.1% | |
| -0.4 to -0.3 | 821 | 12.1% | |
| -0.3 to -0.2 | 514 | 7.5% | |
| -0.2 to -0.1 | 513 | 7.5% | |
| -0.1 to 0.0 | 306 | 4.5% | |
| 0.0 to 0.1 | 306 | 4.5% | |
| 0.1 to 0.2 | 286 | 4.2% | |
| 0.2 to 0.3 | 286 | 4.2% | |
| 0.3 to 0.4 | 269 | 4.0% | |
| 0.4 to 0.5 | 269 | 4.0% | |
| 0.5 to 0.6 | 321 | 4.7% | |
| 0.6 to 0.7 | 320 | 4.7% | |
| 0.7 to 0.8 | 148 | 2.2% | |
| 0.8 to 0.9 | 148 | 2.2% | |
| 0.9 to 1.0 | 7 | 0.1% |
Frequently asked questions
What is the average correlation of NGL?
NGL ENERGY PARTNERS LP (NGL) has an average correlation of about -0.126 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is NGL positively correlated with other stocks?
Not predominantly — 34.7% of pairs are positive and 65.3% are negative. Strong positive correlations (≥0.7) make up 4.4%.
What is the most common correlation range for NGL?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 32.5% of all pairs.
Explore the full interactive correlation distribution for NGL.
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