Nova Ltd. Ordinary Shares (NVMI) Correlation Distribution
Across 6,809 rolling correlation observations between Nova Ltd. Ordinary Shares (NVMI) and other NASDAQ-listed stocks, 42.6% are positive and 57.4% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is -0.023, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 15.2% and strong negative correlations (≤−0.7) for 4.5%.
- Total observations
- 6,809
- Mean correlation
- -0.023
- Most common range
- -0.5 to -0.4
- Positive pairs
- 42.6%
- Strong positive (≥0.7)
- 15.2%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 2 | 0.0% | |
| -0.9 to -0.8 | 152 | 2.2% | |
| -0.8 to -0.7 | 151 | 2.2% | |
| -0.7 to -0.6 | 620 | 9.1% | |
| -0.6 to -0.5 | 620 | 9.1% | |
| -0.5 to -0.4 | 654 | 9.6% | |
| -0.4 to -0.3 | 653 | 9.6% | |
| -0.3 to -0.2 | 382 | 5.6% | |
| -0.2 to -0.1 | 381 | 5.6% | |
| -0.1 to 0.0 | 293 | 4.3% | |
| 0.0 to 0.1 | 293 | 4.3% | |
| 0.1 to 0.2 | 245 | 3.6% | |
| 0.2 to 0.3 | 245 | 3.6% | |
| 0.3 to 0.4 | 232 | 3.4% | |
| 0.4 to 0.5 | 231 | 3.4% | |
| 0.5 to 0.6 | 310 | 4.6% | |
| 0.6 to 0.7 | 310 | 4.6% | |
| 0.7 to 0.8 | 442 | 6.5% | |
| 0.8 to 0.9 | 442 | 6.5% | |
| 0.9 to 1.0 | 151 | 2.2% |
Frequently asked questions
What is the average correlation of NVMI?
Nova Ltd. Ordinary Shares (NVMI) has an average correlation of about -0.023 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is NVMI positively correlated with other stocks?
Not predominantly — 42.6% of pairs are positive and 57.4% are negative. Strong positive correlations (≥0.7) make up 15.2%.
What is the most common correlation range for NVMI?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 27% of all pairs.
Explore the full interactive correlation distribution for NVMI.
Open interactive dashboard →