Pangaea Logistics Solutions Ltd. (PANL) Correlation Distribution
Across 6,809 rolling correlation observations between Pangaea Logistics Solutions Ltd. (PANL) and other NASDAQ-listed stocks, 37.4% are positive and 62.6% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.134, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 6.1% and strong negative correlations (≤−0.7) for 9.1%.
- Total observations
- 6,809
- Mean correlation
- -0.134
- Most common range
- -0.7 to -0.6
- Positive pairs
- 37.4%
- Strong positive (≥0.7)
- 6.1%
- Sector
- Deep Sea Foreign Transportation Of Freight
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 309 | 4.5% | |
| -0.8 to -0.7 | 308 | 4.5% | |
| -0.7 to -0.6 | 781 | 11.5% | |
| -0.6 to -0.5 | 781 | 11.5% | |
| -0.5 to -0.4 | 537 | 7.9% | |
| -0.4 to -0.3 | 536 | 7.9% | |
| -0.3 to -0.2 | 365 | 5.4% | |
| -0.2 to -0.1 | 364 | 5.3% | |
| -0.1 to 0.0 | 284 | 4.2% | |
| 0.0 to 0.1 | 283 | 4.2% | |
| 0.1 to 0.2 | 276 | 4.1% | |
| 0.2 to 0.3 | 276 | 4.1% | |
| 0.3 to 0.4 | 318 | 4.7% | |
| 0.4 to 0.5 | 317 | 4.7% | |
| 0.5 to 0.6 | 331 | 4.9% | |
| 0.6 to 0.7 | 330 | 4.8% | |
| 0.7 to 0.8 | 204 | 3.0% | |
| 0.8 to 0.9 | 204 | 3.0% | |
| 0.9 to 1.0 | 5 | 0.1% |
Frequently asked questions
What is the average correlation of PANL?
Pangaea Logistics Solutions Ltd. (PANL) has an average correlation of about -0.134 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is PANL positively correlated with other stocks?
Not predominantly — 37.4% of pairs are positive and 62.6% are negative. Strong positive correlations (≥0.7) make up 6.1%.
What is the most common correlation range for PANL?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 27.1% of all pairs.
Explore the full interactive correlation distribution for PANL.
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