PETROLEO BRASILEIRO S.A.-PETROBRAS ADS (REP 1 COMMON SHARE) (PBR) Correlation Distribution
Across 6,809 rolling correlation observations between PETROLEO BRASILEIRO S.A.-PETROBRAS ADS (REP 1 COMMON SHARE) (PBR) and other NASDAQ-listed stocks, 38% are positive and 62% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.123, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 3% and strong negative correlations (≤−0.7) for 5.1%.
- Total observations
- 6,809
- Mean correlation
- -0.123
- Most common range
- -0.7 to -0.6
- Positive pairs
- 38%
- Strong positive (≥0.7)
- 3%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 1 | 0.0% | |
| -0.9 to -0.8 | 175 | 2.6% | |
| -0.8 to -0.7 | 174 | 2.6% | |
| -0.7 to -0.6 | 807 | 11.9% | |
| -0.6 to -0.5 | 807 | 11.9% | |
| -0.5 to -0.4 | 545 | 8.0% | |
| -0.4 to -0.3 | 544 | 8.0% | |
| -0.3 to -0.2 | 416 | 6.1% | |
| -0.2 to -0.1 | 415 | 6.1% | |
| -0.1 to 0.0 | 340 | 5.0% | |
| 0.0 to 0.1 | 340 | 5.0% | |
| 0.1 to 0.2 | 292 | 4.3% | |
| 0.2 to 0.3 | 291 | 4.3% | |
| 0.3 to 0.4 | 356 | 5.2% | |
| 0.4 to 0.5 | 356 | 5.2% | |
| 0.5 to 0.6 | 372 | 5.5% | |
| 0.6 to 0.7 | 371 | 5.4% | |
| 0.7 to 0.8 | 104 | 1.5% | |
| 0.8 to 0.9 | 103 | 1.5% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of PBR?
PETROLEO BRASILEIRO S.A.-PETROBRAS ADS (REP 1 COMMON SHARE) (PBR) has an average correlation of about -0.123 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is PBR positively correlated with other stocks?
Not predominantly — 38% of pairs are positive and 62% are negative. Strong positive correlations (≥0.7) make up 3%.
What is the most common correlation range for PBR?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 30.8% of all pairs.
Explore the full interactive correlation distribution for PBR.
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