Patterson-UTI Energy Inc (PTEN) Correlation Distribution
Across 6,809 rolling correlation observations between Patterson-UTI Energy Inc (PTEN) and other NASDAQ-listed stocks, 40.6% are positive and 59.4% are negative. The most common correlation range is -0.3 to -0.2, and the average pairwise correlation is -0.082, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 4% and strong negative correlations (≤−0.7) for 4.2%.
- Total observations
- 6,809
- Mean correlation
- -0.082
- Most common range
- -0.3 to -0.2
- Positive pairs
- 40.6%
- Strong positive (≥0.7)
- 4%
- Sector
- Drilling Oil & Gas Wells
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 1 | 0.0% | |
| -0.9 to -0.8 | 143 | 2.1% | |
| -0.8 to -0.7 | 142 | 2.1% | |
| -0.7 to -0.6 | 475 | 7.0% | |
| -0.6 to -0.5 | 474 | 7.0% | |
| -0.5 to -0.4 | 554 | 8.1% | |
| -0.4 to -0.3 | 554 | 8.1% | |
| -0.3 to -0.2 | 572 | 8.4% | |
| -0.2 to -0.1 | 572 | 8.4% | |
| -0.1 to 0.0 | 559 | 8.2% | |
| 0.0 to 0.1 | 559 | 8.2% | |
| 0.1 to 0.2 | 417 | 6.1% | |
| 0.2 to 0.3 | 416 | 6.1% | |
| 0.3 to 0.4 | 326 | 4.8% | |
| 0.4 to 0.5 | 325 | 4.8% | |
| 0.5 to 0.6 | 226 | 3.3% | |
| 0.6 to 0.7 | 225 | 3.3% | |
| 0.7 to 0.8 | 128 | 1.9% | |
| 0.8 to 0.9 | 127 | 1.9% | |
| 0.9 to 1.0 | 14 | 0.2% |
Frequently asked questions
What is the average correlation of PTEN?
Patterson-UTI Energy Inc (PTEN) has an average correlation of about -0.082 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is PTEN positively correlated with other stocks?
Not predominantly — 40.6% of pairs are positive and 59.4% are negative. Strong positive correlations (≥0.7) make up 4%.
What is the most common correlation range for PTEN?
The most common range is -0.3 to -0.2. Weak correlations (−0.3 to 0.3) account for 45.5% of all pairs.
Explore the full interactive correlation distribution for PTEN.
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