OneConnect Financial Technology Co., Ltd. American Depositary Shares, each representing thirty (30) Ordinary Shares (OCFT) Correlation Distribution
Across 6,809 rolling correlation observations between OneConnect Financial Technology Co., Ltd. American Depositary Shares, each representing thirty (30) Ordinary Shares (OCFT) and other NASDAQ-listed stocks, 61.3% are positive and 38.7% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.179, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 25.6% and strong negative correlations (≤−0.7) for 7.2%.
- Total observations
- 6,809
- Mean correlation
- 0.179
- Most common range
- 0.7 to 0.8
- Positive pairs
- 61.3%
- Strong positive (≥0.7)
- 25.6%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 18 | 0.3% | |
| -0.9 to -0.8 | 235 | 3.5% | |
| -0.8 to -0.7 | 235 | 3.5% | |
| -0.7 to -0.6 | 385 | 5.7% | |
| -0.6 to -0.5 | 385 | 5.7% | |
| -0.5 to -0.4 | 305 | 4.5% | |
| -0.4 to -0.3 | 304 | 4.5% | |
| -0.3 to -0.2 | 259 | 3.8% | |
| -0.2 to -0.1 | 259 | 3.8% | |
| -0.1 to 0.0 | 251 | 3.7% | |
| 0.0 to 0.1 | 251 | 3.7% | |
| 0.1 to 0.2 | 261 | 3.8% | |
| 0.2 to 0.3 | 260 | 3.8% | |
| 0.3 to 0.4 | 330 | 4.8% | |
| 0.4 to 0.5 | 330 | 4.8% | |
| 0.5 to 0.6 | 500 | 7.3% | |
| 0.6 to 0.7 | 499 | 7.3% | |
| 0.7 to 0.8 | 680 | 10.0% | |
| 0.8 to 0.9 | 679 | 10.0% | |
| 0.9 to 1.0 | 383 | 5.6% |
Frequently asked questions
What is the average correlation of OCFT?
OneConnect Financial Technology Co., Ltd. American Depositary Shares, each representing thirty (30) Ordinary Shares (OCFT) has an average correlation of about 0.179 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is OCFT positively correlated with other stocks?
Mostly yes — 61.3% of pairs are positive and 38.7% are negative. Strong positive correlations (≥0.7) make up 25.6%.
What is the most common correlation range for OCFT?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 22.6% of all pairs.
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