Ocean Power Technologies, Inc. (OPTT) Correlation Distribution
Across 6,809 rolling correlation observations between Ocean Power Technologies, Inc. (OPTT) and other NASDAQ-listed stocks, 69.3% are positive and 30.7% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.299, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 34% and strong negative correlations (≤−0.7) for 2.5%.
- Total observations
- 6,809
- Mean correlation
- 0.299
- Most common range
- 0.7 to 0.8
- Positive pairs
- 69.3%
- Strong positive (≥0.7)
- 34%
- Sector
- Electric Services
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 86 | 1.3% | |
| -0.8 to -0.7 | 86 | 1.3% | |
| -0.7 to -0.6 | 298 | 4.4% | |
| -0.6 to -0.5 | 297 | 4.4% | |
| -0.5 to -0.4 | 287 | 4.2% | |
| -0.4 to -0.3 | 286 | 4.2% | |
| -0.3 to -0.2 | 257 | 3.8% | |
| -0.2 to -0.1 | 256 | 3.8% | |
| -0.1 to 0.0 | 240 | 3.5% | |
| 0.0 to 0.1 | 239 | 3.5% | |
| 0.1 to 0.2 | 253 | 3.7% | |
| 0.2 to 0.3 | 252 | 3.7% | |
| 0.3 to 0.4 | 332 | 4.9% | |
| 0.4 to 0.5 | 331 | 4.9% | |
| 0.5 to 0.6 | 497 | 7.3% | |
| 0.6 to 0.7 | 497 | 7.3% | |
| 0.7 to 0.8 | 997 | 14.6% | |
| 0.8 to 0.9 | 996 | 14.6% | |
| 0.9 to 1.0 | 322 | 4.7% |
Frequently asked questions
What is the average correlation of OPTT?
Ocean Power Technologies, Inc. (OPTT) has an average correlation of about 0.299 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is OPTT positively correlated with other stocks?
Mostly yes — 69.3% of pairs are positive and 30.7% are negative. Strong positive correlations (≥0.7) make up 34%.
What is the most common correlation range for OPTT?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 22% of all pairs.
Explore the full interactive correlation distribution for OPTT.
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