Permian Basin Royalty Trust (PBT) Correlation Distribution
Across 6,809 rolling correlation observations between Permian Basin Royalty Trust (PBT) and other NASDAQ-listed stocks, 33.8% are positive and 66.2% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.198, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 4.1% and strong negative correlations (≤−0.7) for 15%.
- Total observations
- 6,809
- Mean correlation
- -0.198
- Most common range
- -0.7 to -0.6
- Positive pairs
- 33.8%
- Strong positive (≥0.7)
- 4.1%
- Sector
- Oil Royalty Traders
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 34 | 0.5% | |
| -0.9 to -0.8 | 493 | 7.2% | |
| -0.8 to -0.7 | 493 | 7.2% | |
| -0.7 to -0.6 | 676 | 9.9% | |
| -0.6 to -0.5 | 676 | 9.9% | |
| -0.5 to -0.4 | 466 | 6.8% | |
| -0.4 to -0.3 | 465 | 6.8% | |
| -0.3 to -0.2 | 405 | 5.9% | |
| -0.2 to -0.1 | 404 | 5.9% | |
| -0.1 to 0.0 | 395 | 5.8% | |
| 0.0 to 0.1 | 395 | 5.8% | |
| 0.1 to 0.2 | 348 | 5.1% | |
| 0.2 to 0.3 | 347 | 5.1% | |
| 0.3 to 0.4 | 274 | 4.0% | |
| 0.4 to 0.5 | 273 | 4.0% | |
| 0.5 to 0.6 | 193 | 2.8% | |
| 0.6 to 0.7 | 193 | 2.8% | |
| 0.7 to 0.8 | 129 | 1.9% | |
| 0.8 to 0.9 | 129 | 1.9% | |
| 0.9 to 1.0 | 21 | 0.3% |
Frequently asked questions
What is the average correlation of PBT?
Permian Basin Royalty Trust (PBT) has an average correlation of about -0.198 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is PBT positively correlated with other stocks?
Not predominantly — 33.8% of pairs are positive and 66.2% are negative. Strong positive correlations (≥0.7) make up 4.1%.
What is the most common correlation range for PBT?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 33.7% of all pairs.
Explore the full interactive correlation distribution for PBT.
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