Oak Valley Bancorp (OVLY) Correlation Distribution
Across 6,802 rolling correlation observations between Oak Valley Bancorp (OVLY) and other NASDAQ-listed stocks, 37.8% are positive and 62.2% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.147, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 11.5% and strong negative correlations (≤−0.7) for 17.4%.
- Total observations
- 6,802
- Mean correlation
- -0.147
- Most common range
- -0.7 to -0.6
- Positive pairs
- 37.8%
- Strong positive (≥0.7)
- 11.5%
- Sector
- State Commercial Banks
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 6 | 0.1% | |
| -0.9 to -0.8 | 588 | 8.6% | |
| -0.8 to -0.7 | 587 | 8.6% | |
| -0.7 to -0.6 | 785 | 11.5% | |
| -0.6 to -0.5 | 784 | 11.5% | |
| -0.5 to -0.4 | 347 | 5.1% | |
| -0.4 to -0.3 | 347 | 5.1% | |
| -0.3 to -0.2 | 275 | 4.0% | |
| -0.2 to -0.1 | 274 | 4.0% | |
| -0.1 to 0.0 | 241 | 3.5% | |
| 0.0 to 0.1 | 241 | 3.5% | |
| 0.1 to 0.2 | 243 | 3.6% | |
| 0.2 to 0.3 | 242 | 3.6% | |
| 0.3 to 0.4 | 221 | 3.2% | |
| 0.4 to 0.5 | 220 | 3.2% | |
| 0.5 to 0.6 | 311 | 4.6% | |
| 0.6 to 0.7 | 311 | 4.6% | |
| 0.7 to 0.8 | 375 | 5.5% | |
| 0.8 to 0.9 | 374 | 5.5% | |
| 0.9 to 1.0 | 30 | 0.4% |
Frequently asked questions
What is the average correlation of OVLY?
Oak Valley Bancorp (OVLY) has an average correlation of about -0.147 with other NASDAQ stocks, based on 6,802 pairwise observations.
Is OVLY positively correlated with other stocks?
Not predominantly — 37.8% of pairs are positive and 62.2% are negative. Strong positive correlations (≥0.7) make up 11.5%.
What is the most common correlation range for OVLY?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 22.3% of all pairs.
Explore the full interactive correlation distribution for OVLY.
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