Open Text Corp (OTEX) Correlation Distribution
Across 6,809 rolling correlation observations between Open Text Corp (OTEX) and other NASDAQ-listed stocks, 68% are positive and 32% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.252, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 23% and strong negative correlations (≤−0.7) for 2%.
- Total observations
- 6,809
- Mean correlation
- 0.252
- Most common range
- 0.7 to 0.8
- Positive pairs
- 68%
- Strong positive (≥0.7)
- 23%
- Sector
- Services-Computer Integrated Systems Design
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 67 | 1.0% | |
| -0.8 to -0.7 | 66 | 1.0% | |
| -0.7 to -0.6 | 317 | 4.7% | |
| -0.6 to -0.5 | 316 | 4.6% | |
| -0.5 to -0.4 | 308 | 4.5% | |
| -0.4 to -0.3 | 308 | 4.5% | |
| -0.3 to -0.2 | 276 | 4.1% | |
| -0.2 to -0.1 | 275 | 4.0% | |
| -0.1 to 0.0 | 246 | 3.6% | |
| 0.0 to 0.1 | 245 | 3.6% | |
| 0.1 to 0.2 | 282 | 4.1% | |
| 0.2 to 0.3 | 281 | 4.1% | |
| 0.3 to 0.4 | 396 | 5.8% | |
| 0.4 to 0.5 | 396 | 5.8% | |
| 0.5 to 0.6 | 731 | 10.7% | |
| 0.6 to 0.7 | 730 | 10.7% | |
| 0.7 to 0.8 | 783 | 11.5% | |
| 0.8 to 0.9 | 783 | 11.5% | |
| 0.9 to 1.0 | 3 | 0.0% |
Frequently asked questions
What is the average correlation of OTEX?
Open Text Corp (OTEX) has an average correlation of about 0.252 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is OTEX positively correlated with other stocks?
Mostly yes — 68% of pairs are positive and 32% are negative. Strong positive correlations (≥0.7) make up 23%.
What is the most common correlation range for OTEX?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 23.6% of all pairs.
Explore the full interactive correlation distribution for OTEX.
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