Novo-Nordisk A/S (NVO) Correlation Distribution
Across 6,809 rolling correlation observations between Novo-Nordisk A/S (NVO) and other NASDAQ-listed stocks, 35.8% are positive and 64.2% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.154, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 10.7% and strong negative correlations (≤−0.7) for 13.4%.
- Total observations
- 6,809
- Mean correlation
- -0.154
- Most common range
- -0.7 to -0.6
- Positive pairs
- 35.8%
- Strong positive (≥0.7)
- 10.7%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 5 | 0.1% | |
| -0.9 to -0.8 | 454 | 6.7% | |
| -0.8 to -0.7 | 453 | 6.7% | |
| -0.7 to -0.6 | 896 | 13.2% | |
| -0.6 to -0.5 | 896 | 13.2% | |
| -0.5 to -0.4 | 439 | 6.4% | |
| -0.4 to -0.3 | 438 | 6.4% | |
| -0.3 to -0.2 | 279 | 4.1% | |
| -0.2 to -0.1 | 278 | 4.1% | |
| -0.1 to 0.0 | 233 | 3.4% | |
| 0.0 to 0.1 | 232 | 3.4% | |
| 0.1 to 0.2 | 221 | 3.2% | |
| 0.2 to 0.3 | 221 | 3.2% | |
| 0.3 to 0.4 | 232 | 3.4% | |
| 0.4 to 0.5 | 231 | 3.4% | |
| 0.5 to 0.6 | 286 | 4.2% | |
| 0.6 to 0.7 | 285 | 4.2% | |
| 0.7 to 0.8 | 294 | 4.3% | |
| 0.8 to 0.9 | 294 | 4.3% | |
| 0.9 to 1.0 | 142 | 2.1% |
Frequently asked questions
What is the average correlation of NVO?
Novo-Nordisk A/S (NVO) has an average correlation of about -0.154 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is NVO positively correlated with other stocks?
Not predominantly — 35.8% of pairs are positive and 64.2% are negative. Strong positive correlations (≥0.7) make up 10.7%.
What is the most common correlation range for NVO?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 21.5% of all pairs.
Explore the full interactive correlation distribution for NVO.
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