Otis Worldwide Corporation (OTIS) Correlation Distribution
Across 6,809 rolling correlation observations between Otis Worldwide Corporation (OTIS) and other NASDAQ-listed stocks, 44.5% are positive and 55.5% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.011, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 14.7% and strong negative correlations (≤−0.7) for 4.3%.
- Total observations
- 6,809
- Mean correlation
- -0.011
- Most common range
- -0.7 to -0.6
- Positive pairs
- 44.5%
- Strong positive (≥0.7)
- 14.7%
- Sector
- Electronic & Other Electrical Equipment (No Computer Equip)
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 146 | 2.1% | |
| -0.8 to -0.7 | 146 | 2.1% | |
| -0.7 to -0.6 | 607 | 8.9% | |
| -0.6 to -0.5 | 607 | 8.9% | |
| -0.5 to -0.4 | 584 | 8.6% | |
| -0.4 to -0.3 | 584 | 8.6% | |
| -0.3 to -0.2 | 403 | 5.9% | |
| -0.2 to -0.1 | 403 | 5.9% | |
| -0.1 to 0.0 | 297 | 4.4% | |
| 0.0 to 0.1 | 296 | 4.3% | |
| 0.1 to 0.2 | 282 | 4.1% | |
| 0.2 to 0.3 | 281 | 4.1% | |
| 0.3 to 0.4 | 260 | 3.8% | |
| 0.4 to 0.5 | 259 | 3.8% | |
| 0.5 to 0.6 | 328 | 4.8% | |
| 0.6 to 0.7 | 327 | 4.8% | |
| 0.7 to 0.8 | 486 | 7.1% | |
| 0.8 to 0.9 | 485 | 7.1% | |
| 0.9 to 1.0 | 28 | 0.4% |
Frequently asked questions
What is the average correlation of OTIS?
Otis Worldwide Corporation (OTIS) has an average correlation of about -0.011 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is OTIS positively correlated with other stocks?
Not predominantly — 44.5% of pairs are positive and 55.5% are negative. Strong positive correlations (≥0.7) make up 14.7%.
What is the most common correlation range for OTIS?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 28.8% of all pairs.
Explore the full interactive correlation distribution for OTIS.
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