Palo Alto Networks, Inc. Common Stock (PANW) Correlation Distribution
Across 6,809 rolling correlation observations between Palo Alto Networks, Inc. Common Stock (PANW) and other NASDAQ-listed stocks, 38.1% are positive and 61.9% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.116, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 16.5% and strong negative correlations (≤−0.7) for 15.8%.
- Total observations
- 6,809
- Mean correlation
- -0.116
- Most common range
- -0.7 to -0.6
- Positive pairs
- 38.1%
- Strong positive (≥0.7)
- 16.5%
- Sector
- Computer Peripheral Equipment, Nec
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 22 | 0.3% | |
| -0.9 to -0.8 | 528 | 7.8% | |
| -0.8 to -0.7 | 528 | 7.8% | |
| -0.7 to -0.6 | 808 | 11.9% | |
| -0.6 to -0.5 | 807 | 11.9% | |
| -0.5 to -0.4 | 407 | 6.0% | |
| -0.4 to -0.3 | 407 | 6.0% | |
| -0.3 to -0.2 | 252 | 3.7% | |
| -0.2 to -0.1 | 252 | 3.7% | |
| -0.1 to 0.0 | 203 | 3.0% | |
| 0.0 to 0.1 | 202 | 3.0% | |
| 0.1 to 0.2 | 190 | 2.8% | |
| 0.2 to 0.3 | 189 | 2.8% | |
| 0.3 to 0.4 | 193 | 2.8% | |
| 0.4 to 0.5 | 193 | 2.8% | |
| 0.5 to 0.6 | 254 | 3.7% | |
| 0.6 to 0.7 | 253 | 3.7% | |
| 0.7 to 0.8 | 420 | 6.2% | |
| 0.8 to 0.9 | 420 | 6.2% | |
| 0.9 to 1.0 | 281 | 4.1% |
Frequently asked questions
What is the average correlation of PANW?
Palo Alto Networks, Inc. Common Stock (PANW) has an average correlation of about -0.116 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is PANW positively correlated with other stocks?
Not predominantly — 38.1% of pairs are positive and 61.9% are negative. Strong positive correlations (≥0.7) make up 16.5%.
What is the most common correlation range for PANW?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 18.9% of all pairs.
Explore the full interactive correlation distribution for PANW.
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