NexGel, Inc Common Stock (NXGL) Correlation Distribution
Across 6,788 rolling correlation observations between NexGel, Inc Common Stock (NXGL) and other NASDAQ-listed stocks, 53.8% are positive and 46.2% are negative. The most common correlation range is 0.5 to 0.6, and the average pairwise correlation is 0.08, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 9% and strong negative correlations (≤−0.7) for 0.8%.
- Total observations
- 6,788
- Mean correlation
- 0.08
- Most common range
- 0.5 to 0.6
- Positive pairs
- 53.8%
- Strong positive (≥0.7)
- 9%
- Sector
- Surgical & Medical Instruments & Apparatus
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 28 | 0.4% | |
| -0.8 to -0.7 | 28 | 0.4% | |
| -0.7 to -0.6 | 324 | 4.8% | |
| -0.6 to -0.5 | 324 | 4.8% | |
| -0.5 to -0.4 | 487 | 7.2% | |
| -0.4 to -0.3 | 486 | 7.2% | |
| -0.3 to -0.2 | 503 | 7.4% | |
| -0.2 to -0.1 | 502 | 7.4% | |
| -0.1 to 0.0 | 452 | 6.7% | |
| 0.0 to 0.1 | 451 | 6.6% | |
| 0.1 to 0.2 | 402 | 5.9% | |
| 0.2 to 0.3 | 402 | 5.9% | |
| 0.3 to 0.4 | 386 | 5.7% | |
| 0.4 to 0.5 | 386 | 5.7% | |
| 0.5 to 0.6 | 510 | 7.5% | |
| 0.6 to 0.7 | 509 | 7.5% | |
| 0.7 to 0.8 | 304 | 4.5% | |
| 0.8 to 0.9 | 304 | 4.5% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of NXGL?
NexGel, Inc Common Stock (NXGL) has an average correlation of about 0.08 with other NASDAQ stocks, based on 6,788 pairwise observations.
Is NXGL positively correlated with other stocks?
Mostly yes — 53.8% of pairs are positive and 46.2% are negative. Strong positive correlations (≥0.7) make up 9%.
What is the most common correlation range for NXGL?
The most common range is 0.5 to 0.6. Weak correlations (−0.3 to 0.3) account for 40% of all pairs.
Explore the full interactive correlation distribution for NXGL.
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