Transocean LTD. (RIG) Correlation Distribution
Across 6,809 rolling correlation observations between Transocean LTD. (RIG) and other NASDAQ-listed stocks, 37.2% are positive and 62.8% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is -0.103, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 3.5% and strong negative correlations (≤−0.7) for 1.4%.
- Total observations
- 6,809
- Mean correlation
- -0.103
- Most common range
- -0.5 to -0.4
- Positive pairs
- 37.2%
- Strong positive (≥0.7)
- 3.5%
- 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 | 48 | 0.7% | |
| -0.8 to -0.7 | 48 | 0.7% | |
| -0.7 to -0.6 | 577 | 8.5% | |
| -0.6 to -0.5 | 577 | 8.5% | |
| -0.5 to -0.4 | 764 | 11.2% | |
| -0.4 to -0.3 | 763 | 11.2% | |
| -0.3 to -0.2 | 553 | 8.1% | |
| -0.2 to -0.1 | 553 | 8.1% | |
| -0.1 to 0.0 | 389 | 5.7% | |
| 0.0 to 0.1 | 389 | 5.7% | |
| 0.1 to 0.2 | 379 | 5.6% | |
| 0.2 to 0.3 | 379 | 5.6% | |
| 0.3 to 0.4 | 332 | 4.9% | |
| 0.4 to 0.5 | 332 | 4.9% | |
| 0.5 to 0.6 | 243 | 3.6% | |
| 0.6 to 0.7 | 243 | 3.6% | |
| 0.7 to 0.8 | 114 | 1.7% | |
| 0.8 to 0.9 | 114 | 1.7% | |
| 0.9 to 1.0 | 11 | 0.2% |
Frequently asked questions
What is the average correlation of RIG?
Transocean LTD. (RIG) has an average correlation of about -0.103 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is RIG positively correlated with other stocks?
Not predominantly — 37.2% of pairs are positive and 62.8% are negative. Strong positive correlations (≥0.7) make up 3.5%.
What is the most common correlation range for RIG?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 38.8% of all pairs.
Explore the full interactive correlation distribution for RIG.
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