Ovintiv Inc. (OVV) Correlation Distribution
Across 6,809 rolling correlation observations between Ovintiv Inc. (OVV) and other NASDAQ-listed stocks, 41.4% are positive and 58.6% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.11, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 3.9% and strong negative correlations (≤−0.7) for 11%.
- Total observations
- 6,809
- Mean correlation
- -0.11
- Most common range
- -0.7 to -0.6
- Positive pairs
- 41.4%
- Strong positive (≥0.7)
- 3.9%
- Sector
- Crude Petroleum & Natural Gas
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 5 | 0.1% | |
| -0.9 to -0.8 | 372 | 5.5% | |
| -0.8 to -0.7 | 371 | 5.4% | |
| -0.7 to -0.6 | 544 | 8.0% | |
| -0.6 to -0.5 | 543 | 8.0% | |
| -0.5 to -0.4 | 438 | 6.4% | |
| -0.4 to -0.3 | 438 | 6.4% | |
| -0.3 to -0.2 | 448 | 6.6% | |
| -0.2 to -0.1 | 447 | 6.6% | |
| -0.1 to 0.0 | 387 | 5.7% | |
| 0.0 to 0.1 | 387 | 5.7% | |
| 0.1 to 0.2 | 411 | 6.0% | |
| 0.2 to 0.3 | 410 | 6.0% | |
| 0.3 to 0.4 | 382 | 5.6% | |
| 0.4 to 0.5 | 382 | 5.6% | |
| 0.5 to 0.6 | 290 | 4.3% | |
| 0.6 to 0.7 | 290 | 4.3% | |
| 0.7 to 0.8 | 116 | 1.7% | |
| 0.8 to 0.9 | 116 | 1.7% | |
| 0.9 to 1.0 | 32 | 0.5% |
Frequently asked questions
What is the average correlation of OVV?
Ovintiv Inc. (OVV) has an average correlation of about -0.11 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is OVV positively correlated with other stocks?
Not predominantly — 41.4% of pairs are positive and 58.6% are negative. Strong positive correlations (≥0.7) make up 3.9%.
What is the most common correlation range for OVV?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 36.6% of all pairs.
Explore the full interactive correlation distribution for OVV.
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