NexGen Energy Ltd. (NXE) Correlation Distribution
Across 6,809 rolling correlation observations between NexGen Energy Ltd. (NXE) and other NASDAQ-listed stocks, 43.8% are positive and 56.2% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is -0.017, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 11.2% and strong negative correlations (≤−0.7) for 2.5%.
- Total observations
- 6,809
- Mean correlation
- -0.017
- Most common range
- -0.5 to -0.4
- Positive pairs
- 43.8%
- Strong positive (≥0.7)
- 11.2%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 85 | 1.2% | |
| -0.8 to -0.7 | 84 | 1.2% | |
| -0.7 to -0.6 | 582 | 8.5% | |
| -0.6 to -0.5 | 581 | 8.5% | |
| -0.5 to -0.4 | 642 | 9.4% | |
| -0.4 to -0.3 | 641 | 9.4% | |
| -0.3 to -0.2 | 453 | 6.7% | |
| -0.2 to -0.1 | 453 | 6.7% | |
| -0.1 to 0.0 | 309 | 4.5% | |
| 0.0 to 0.1 | 308 | 4.5% | |
| 0.1 to 0.2 | 294 | 4.3% | |
| 0.2 to 0.3 | 293 | 4.3% | |
| 0.3 to 0.4 | 271 | 4.0% | |
| 0.4 to 0.5 | 271 | 4.0% | |
| 0.5 to 0.6 | 389 | 5.7% | |
| 0.6 to 0.7 | 389 | 5.7% | |
| 0.7 to 0.8 | 380 | 5.6% | |
| 0.8 to 0.9 | 379 | 5.6% | |
| 0.9 to 1.0 | 5 | 0.1% |
Frequently asked questions
What is the average correlation of NXE?
NexGen Energy Ltd. (NXE) has an average correlation of about -0.017 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is NXE positively correlated with other stocks?
Not predominantly — 43.8% of pairs are positive and 56.2% are negative. Strong positive correlations (≥0.7) make up 11.2%.
What is the most common correlation range for NXE?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 31% of all pairs.
Explore the full interactive correlation distribution for NXE.
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