Nextracker Inc. Class A Common Stock (NXT) Correlation Distribution
Across 6,227 rolling correlation observations between Nextracker Inc. Class A Common Stock (NXT) and other NASDAQ-listed stocks, 50% are positive and 50% are negative. The most common correlation range is 0.1 to 0.2, and the average pairwise correlation is -0.008, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 0.9% and strong negative correlations (≤−0.7) for 0.4%.
- Total observations
- 6,227
- Mean correlation
- -0.008
- Most common range
- 0.1 to 0.2
- Positive pairs
- 50%
- Strong positive (≥0.7)
- 0.9%
- Sector
- Search, Detection, Navagation, Guidance, Aeronautical Sys
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 12 | 0.2% | |
| -0.8 to -0.7 | 11 | 0.2% | |
| -0.7 to -0.6 | 153 | 2.5% | |
| -0.6 to -0.5 | 152 | 2.4% | |
| -0.5 to -0.4 | 615 | 9.9% | |
| -0.4 to -0.3 | 614 | 9.9% | |
| -0.3 to -0.2 | 515 | 8.3% | |
| -0.2 to -0.1 | 514 | 8.3% | |
| -0.1 to 0.0 | 528 | 8.5% | |
| 0.0 to 0.1 | 528 | 8.5% | |
| 0.1 to 0.2 | 657 | 10.6% | |
| 0.2 to 0.3 | 656 | 10.5% | |
| 0.3 to 0.4 | 470 | 7.5% | |
| 0.4 to 0.5 | 470 | 7.5% | |
| 0.5 to 0.6 | 140 | 2.2% | |
| 0.6 to 0.7 | 139 | 2.2% | |
| 0.7 to 0.8 | 27 | 0.4% | |
| 0.8 to 0.9 | 26 | 0.4% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of NXT?
Nextracker Inc. Class A Common Stock (NXT) has an average correlation of about -0.008 with other NASDAQ stocks, based on 6,227 pairwise observations.
Is NXT positively correlated with other stocks?
Mostly yes — 50% of pairs are positive and 50% are negative. Strong positive correlations (≥0.7) make up 0.9%.
What is the most common correlation range for NXT?
The most common range is 0.1 to 0.2. Weak correlations (−0.3 to 0.3) account for 54.6% of all pairs.
Explore the full interactive correlation distribution for NXT.
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