NUVEEN NY SEL TAX-FREE INC (NXN) Correlation Distribution
Across 6,808 rolling correlation observations between NUVEEN NY SEL TAX-FREE INC (NXN) and other NASDAQ-listed stocks, 69.9% are positive and 30.1% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.31, indicating a clearly positive co-movement bias. Strong positive correlations (≥0.7) account for 34.7% and strong negative correlations (≤−0.7) for 1.9%.
- Total observations
- 6,808
- Mean correlation
- 0.31
- Most common range
- 0.7 to 0.8
- Positive pairs
- 69.9%
- Strong positive (≥0.7)
- 34.7%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 3 | 0.0% | |
| -0.9 to -0.8 | 65 | 1.0% | |
| -0.8 to -0.7 | 64 | 0.9% | |
| -0.7 to -0.6 | 261 | 3.8% | |
| -0.6 to -0.5 | 261 | 3.8% | |
| -0.5 to -0.4 | 275 | 4.0% | |
| -0.4 to -0.3 | 275 | 4.0% | |
| -0.3 to -0.2 | 275 | 4.0% | |
| -0.2 to -0.1 | 275 | 4.0% | |
| -0.1 to 0.0 | 294 | 4.3% | |
| 0.0 to 0.1 | 294 | 4.3% | |
| 0.1 to 0.2 | 308 | 4.5% | |
| 0.2 to 0.3 | 307 | 4.5% | |
| 0.3 to 0.4 | 310 | 4.6% | |
| 0.4 to 0.5 | 309 | 4.5% | |
| 0.5 to 0.6 | 434 | 6.4% | |
| 0.6 to 0.7 | 433 | 6.4% | |
| 0.7 to 0.8 | 928 | 13.6% | |
| 0.8 to 0.9 | 927 | 13.6% | |
| 0.9 to 1.0 | 510 | 7.5% |
Frequently asked questions
What is the average correlation of NXN?
NUVEEN NY SEL TAX-FREE INC (NXN) has an average correlation of about 0.31 with other NASDAQ stocks, based on 6,808 pairwise observations.
Is NXN positively correlated with other stocks?
Mostly yes — 69.9% of pairs are positive and 30.1% are negative. Strong positive correlations (≥0.7) make up 34.7%.
What is the most common correlation range for NXN?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 25.7% of all pairs.
Explore the full interactive correlation distribution for NXN.
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