PrimeEnergy Resources Corporation Common Stock (PNRG) Correlation Distribution
Across 6,793 rolling correlation observations between PrimeEnergy Resources Corporation Common Stock (PNRG) and other NASDAQ-listed stocks, 35.7% are positive and 64.3% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.149, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 12.8% and strong negative correlations (≤−0.7) for 13.1%.
- Total observations
- 6,793
- Mean correlation
- -0.149
- Most common range
- -0.7 to -0.6
- Positive pairs
- 35.7%
- Strong positive (≥0.7)
- 12.8%
- Sector
- Crude Petroleum & Natural Gas
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 16 | 0.2% | |
| -0.9 to -0.8 | 438 | 6.4% | |
| -0.8 to -0.7 | 438 | 6.4% | |
| -0.7 to -0.6 | 930 | 13.7% | |
| -0.6 to -0.5 | 929 | 13.7% | |
| -0.5 to -0.4 | 436 | 6.4% | |
| -0.4 to -0.3 | 435 | 6.4% | |
| -0.3 to -0.2 | 274 | 4.0% | |
| -0.2 to -0.1 | 273 | 4.0% | |
| -0.1 to 0.0 | 201 | 3.0% | |
| 0.0 to 0.1 | 200 | 2.9% | |
| 0.1 to 0.2 | 194 | 2.9% | |
| 0.2 to 0.3 | 193 | 2.8% | |
| 0.3 to 0.4 | 205 | 3.0% | |
| 0.4 to 0.5 | 204 | 3.0% | |
| 0.5 to 0.6 | 278 | 4.1% | |
| 0.6 to 0.7 | 277 | 4.1% | |
| 0.7 to 0.8 | 406 | 6.0% | |
| 0.8 to 0.9 | 405 | 6.0% | |
| 0.9 to 1.0 | 61 | 0.9% |
Frequently asked questions
What is the average correlation of PNRG?
PrimeEnergy Resources Corporation Common Stock (PNRG) has an average correlation of about -0.149 with other NASDAQ stocks, based on 6,793 pairwise observations.
Is PNRG positively correlated with other stocks?
Not predominantly — 35.7% of pairs are positive and 64.3% are negative. Strong positive correlations (≥0.7) make up 12.8%.
What is the most common correlation range for PNRG?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 19.7% of all pairs.
Explore the full interactive correlation distribution for PNRG.
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