NOV Inc. (NOV) Correlation Distribution
Across 6,809 rolling correlation observations between NOV Inc. (NOV) and other NASDAQ-listed stocks, 38.1% are positive and 61.9% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is -0.112, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 1.9% and strong negative correlations (≤−0.7) for 1.5%.
- Total observations
- 6,809
- Mean correlation
- -0.112
- Most common range
- -0.5 to -0.4
- Positive pairs
- 38.1%
- Strong positive (≥0.7)
- 1.9%
- Sector
- Oil & Gas Field Machinery & Equipment
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 50 | 0.7% | |
| -0.8 to -0.7 | 50 | 0.7% | |
| -0.7 to -0.6 | 603 | 8.9% | |
| -0.6 to -0.5 | 603 | 8.9% | |
| -0.5 to -0.4 | 660 | 9.7% | |
| -0.4 to -0.3 | 659 | 9.7% | |
| -0.3 to -0.2 | 532 | 7.8% | |
| -0.2 to -0.1 | 531 | 7.8% | |
| -0.1 to 0.0 | 526 | 7.7% | |
| 0.0 to 0.1 | 526 | 7.7% | |
| 0.1 to 0.2 | 445 | 6.5% | |
| 0.2 to 0.3 | 444 | 6.5% | |
| 0.3 to 0.4 | 330 | 4.8% | |
| 0.4 to 0.5 | 330 | 4.8% | |
| 0.5 to 0.6 | 195 | 2.9% | |
| 0.6 to 0.7 | 194 | 2.8% | |
| 0.7 to 0.8 | 64 | 0.9% | |
| 0.8 to 0.9 | 64 | 0.9% | |
| 0.9 to 1.0 | 3 | 0.0% |
Frequently asked questions
What is the average correlation of NOV?
NOV Inc. (NOV) has an average correlation of about -0.112 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is NOV positively correlated with other stocks?
Not predominantly — 38.1% of pairs are positive and 61.9% are negative. Strong positive correlations (≥0.7) make up 1.9%.
What is the most common correlation range for NOV?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 44.1% of all pairs.
Explore the full interactive correlation distribution for NOV.
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