NOVONIX Limited American Depository Shares (NVX) Correlation Distribution
Across 6,757 rolling correlation observations between NOVONIX Limited American Depository Shares (NVX) and other NASDAQ-listed stocks, 66.3% are positive and 33.7% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.264, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 31% and strong negative correlations (≤−0.7) for 2.8%.
- Total observations
- 6,757
- Mean correlation
- 0.264
- Most common range
- 0.7 to 0.8
- Positive pairs
- 66.3%
- Strong positive (≥0.7)
- 31%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 95 | 1.4% | |
| -0.8 to -0.7 | 95 | 1.4% | |
| -0.7 to -0.6 | 338 | 5.0% | |
| -0.6 to -0.5 | 338 | 5.0% | |
| -0.5 to -0.4 | 345 | 5.1% | |
| -0.4 to -0.3 | 345 | 5.1% | |
| -0.3 to -0.2 | 245 | 3.6% | |
| -0.2 to -0.1 | 244 | 3.6% | |
| -0.1 to 0.0 | 235 | 3.5% | |
| 0.0 to 0.1 | 234 | 3.5% | |
| 0.1 to 0.2 | 249 | 3.7% | |
| 0.2 to 0.3 | 249 | 3.7% | |
| 0.3 to 0.4 | 320 | 4.7% | |
| 0.4 to 0.5 | 320 | 4.7% | |
| 0.5 to 0.6 | 506 | 7.5% | |
| 0.6 to 0.7 | 506 | 7.5% | |
| 0.7 to 0.8 | 785 | 11.6% | |
| 0.8 to 0.9 | 785 | 11.6% | |
| 0.9 to 1.0 | 523 | 7.7% |
Frequently asked questions
What is the average correlation of NVX?
NOVONIX Limited American Depository Shares (NVX) has an average correlation of about 0.264 with other NASDAQ stocks, based on 6,757 pairwise observations.
Is NVX positively correlated with other stocks?
Mostly yes — 66.3% of pairs are positive and 33.7% are negative. Strong positive correlations (≥0.7) make up 31%.
What is the most common correlation range for NVX?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 21.5% of all pairs.
Explore the full interactive correlation distribution for NVX.
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