PNM (PNM) Correlation Distribution
Across 6,740 rolling correlation observations between PNM (PNM) and other NASDAQ-listed stocks, 69.9% are positive and 30.1% are negative. The most common correlation range is 0.3 to 0.4, and the average pairwise correlation is 0.167, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 4.6% and strong negative correlations (≤−0.7) for 4.2%.
- Total observations
- 6,740
- Mean correlation
- 0.167
- Most common range
- 0.3 to 0.4
- Positive pairs
- 69.9%
- Strong positive (≥0.7)
- 4.6%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 8 | 0.1% | |
| -0.9 to -0.8 | 139 | 2.1% | |
| -0.8 to -0.7 | 139 | 2.1% | |
| -0.7 to -0.6 | 233 | 3.5% | |
| -0.6 to -0.5 | 232 | 3.4% | |
| -0.5 to -0.4 | 245 | 3.6% | |
| -0.4 to -0.3 | 245 | 3.6% | |
| -0.3 to -0.2 | 241 | 3.6% | |
| -0.2 to -0.1 | 240 | 3.6% | |
| -0.1 to 0.0 | 309 | 4.6% | |
| 0.0 to 0.1 | 309 | 4.6% | |
| 0.1 to 0.2 | 485 | 7.2% | |
| 0.2 to 0.3 | 484 | 7.2% | |
| 0.3 to 0.4 | 966 | 14.3% | |
| 0.4 to 0.5 | 965 | 14.3% | |
| 0.5 to 0.6 | 595 | 8.8% | |
| 0.6 to 0.7 | 595 | 8.8% | |
| 0.7 to 0.8 | 152 | 2.3% | |
| 0.8 to 0.9 | 151 | 2.2% | |
| 0.9 to 1.0 | 7 | 0.1% |
Frequently asked questions
What is the average correlation of PNM?
PNM (PNM) has an average correlation of about 0.167 with other NASDAQ stocks, based on 6,740 pairwise observations.
Is PNM positively correlated with other stocks?
Mostly yes — 69.9% of pairs are positive and 30.1% are negative. Strong positive correlations (≥0.7) make up 4.6%.
What is the most common correlation range for PNM?
The most common range is 0.3 to 0.4. Weak correlations (−0.3 to 0.3) account for 30.7% of all pairs.
Explore the full interactive correlation distribution for PNM.
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