Orchestra BioMed Holdings, Inc. Ordinary Shares (OBIO) Correlation Distribution
Across 6,255 rolling correlation observations between Orchestra BioMed Holdings, Inc. Ordinary Shares (OBIO) and other NASDAQ-listed stocks, 50.3% are positive and 49.7% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is 0.023, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 5.9% and strong negative correlations (≤−0.7) for 1.4%.
- Total observations
- 6,255
- Mean correlation
- 0.023
- Most common range
- -0.7 to -0.6
- Positive pairs
- 50.3%
- Strong positive (≥0.7)
- 5.9%
- 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 | 43 | 0.7% | |
| -0.8 to -0.7 | 43 | 0.7% | |
| -0.7 to -0.6 | 587 | 9.4% | |
| -0.6 to -0.5 | 586 | 9.4% | |
| -0.5 to -0.4 | 458 | 7.3% | |
| -0.4 to -0.3 | 457 | 7.3% | |
| -0.3 to -0.2 | 322 | 5.1% | |
| -0.2 to -0.1 | 321 | 5.1% | |
| -0.1 to 0.0 | 289 | 4.6% | |
| 0.0 to 0.1 | 288 | 4.6% | |
| 0.1 to 0.2 | 282 | 4.5% | |
| 0.2 to 0.3 | 282 | 4.5% | |
| 0.3 to 0.4 | 389 | 6.2% | |
| 0.4 to 0.5 | 388 | 6.2% | |
| 0.5 to 0.6 | 576 | 9.2% | |
| 0.6 to 0.7 | 576 | 9.2% | |
| 0.7 to 0.8 | 184 | 2.9% | |
| 0.8 to 0.9 | 183 | 2.9% | |
| 0.9 to 1.0 | 1 | 0.0% |
Frequently asked questions
What is the average correlation of OBIO?
Orchestra BioMed Holdings, Inc. Ordinary Shares (OBIO) has an average correlation of about 0.023 with other NASDAQ stocks, based on 6,255 pairwise observations.
Is OBIO positively correlated with other stocks?
Mostly yes — 50.3% of pairs are positive and 49.7% are negative. Strong positive correlations (≥0.7) make up 5.9%.
What is the most common correlation range for OBIO?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 28.5% of all pairs.
Explore the full interactive correlation distribution for OBIO.
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