Precision Drilling Corporation (PDS) Correlation Distribution
Across 6,809 rolling correlation observations between Precision Drilling Corporation (PDS) and other NASDAQ-listed stocks, 39.6% are positive and 60.4% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.137, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 3.4% and strong negative correlations (≤−0.7) for 12.8%.
- Total observations
- 6,809
- Mean correlation
- -0.137
- Most common range
- -0.7 to -0.6
- Positive pairs
- 39.6%
- Strong positive (≥0.7)
- 3.4%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 435 | 6.4% | |
| -0.8 to -0.7 | 434 | 6.4% | |
| -0.7 to -0.6 | 581 | 8.5% | |
| -0.6 to -0.5 | 581 | 8.5% | |
| -0.5 to -0.4 | 437 | 6.4% | |
| -0.4 to -0.3 | 437 | 6.4% | |
| -0.3 to -0.2 | 402 | 5.9% | |
| -0.2 to -0.1 | 402 | 5.9% | |
| -0.1 to 0.0 | 404 | 5.9% | |
| 0.0 to 0.1 | 404 | 5.9% | |
| 0.1 to 0.2 | 386 | 5.7% | |
| 0.2 to 0.3 | 385 | 5.7% | |
| 0.3 to 0.4 | 363 | 5.3% | |
| 0.4 to 0.5 | 362 | 5.3% | |
| 0.5 to 0.6 | 284 | 4.2% | |
| 0.6 to 0.7 | 283 | 4.2% | |
| 0.7 to 0.8 | 103 | 1.5% | |
| 0.8 to 0.9 | 103 | 1.5% | |
| 0.9 to 1.0 | 23 | 0.3% |
Frequently asked questions
What is the average correlation of PDS?
Precision Drilling Corporation (PDS) has an average correlation of about -0.137 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is PDS positively correlated with other stocks?
Not predominantly — 39.6% of pairs are positive and 60.4% are negative. Strong positive correlations (≥0.7) make up 3.4%.
What is the most common correlation range for PDS?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 35% of all pairs.
Explore the full interactive correlation distribution for PDS.
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