Opthea Limited American Depositary Shares (OPT) Correlation Distribution
Across 6,747 rolling correlation observations between Opthea Limited American Depositary Shares (OPT) and other NASDAQ-listed stocks, 67.3% are positive and 32.7% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.251, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 31.4% and strong negative correlations (≤−0.7) for 7.6%.
- Total observations
- 6,747
- Mean correlation
- 0.251
- Most common range
- 0.7 to 0.8
- Positive pairs
- 67.3%
- Strong positive (≥0.7)
- 31.4%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 35 | 0.5% | |
| -0.9 to -0.8 | 239 | 3.5% | |
| -0.8 to -0.7 | 239 | 3.5% | |
| -0.7 to -0.6 | 281 | 4.2% | |
| -0.6 to -0.5 | 281 | 4.2% | |
| -0.5 to -0.4 | 241 | 3.6% | |
| -0.4 to -0.3 | 241 | 3.6% | |
| -0.3 to -0.2 | 216 | 3.2% | |
| -0.2 to -0.1 | 215 | 3.2% | |
| -0.1 to 0.0 | 215 | 3.2% | |
| 0.0 to 0.1 | 215 | 3.2% | |
| 0.1 to 0.2 | 233 | 3.5% | |
| 0.2 to 0.3 | 232 | 3.4% | |
| 0.3 to 0.4 | 325 | 4.8% | |
| 0.4 to 0.5 | 324 | 4.8% | |
| 0.5 to 0.6 | 549 | 8.1% | |
| 0.6 to 0.7 | 549 | 8.1% | |
| 0.7 to 0.8 | 989 | 14.7% | |
| 0.8 to 0.9 | 988 | 14.6% | |
| 0.9 to 1.0 | 140 | 2.1% |
Frequently asked questions
What is the average correlation of OPT?
Opthea Limited American Depositary Shares (OPT) has an average correlation of about 0.251 with other NASDAQ stocks, based on 6,747 pairwise observations.
Is OPT positively correlated with other stocks?
Mostly yes — 67.3% of pairs are positive and 32.7% are negative. Strong positive correlations (≥0.7) make up 31.4%.
What is the most common correlation range for OPT?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 19.7% of all pairs.
Explore the full interactive correlation distribution for OPT.
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