RINGCENTRAL, INC. (RNG) Correlation Distribution
Across 6,809 rolling correlation observations between RINGCENTRAL, INC. (RNG) and other NASDAQ-listed stocks, 67.3% are positive and 32.7% are negative. The most common correlation range is 0.9 to 1.0, and the average pairwise correlation is 0.285, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 36.7% and strong negative correlations (≤−0.7) for 5%.
- Total observations
- 6,809
- Mean correlation
- 0.285
- Most common range
- 0.9 to 1.0
- Positive pairs
- 67.3%
- Strong positive (≥0.7)
- 36.7%
- Sector
- Services-Computer Processing & Data Preparation
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 20 | 0.3% | |
| -0.9 to -0.8 | 160 | 2.3% | |
| -0.8 to -0.7 | 159 | 2.3% | |
| -0.7 to -0.6 | 334 | 4.9% | |
| -0.6 to -0.5 | 334 | 4.9% | |
| -0.5 to -0.4 | 269 | 4.0% | |
| -0.4 to -0.3 | 269 | 4.0% | |
| -0.3 to -0.2 | 224 | 3.3% | |
| -0.2 to -0.1 | 223 | 3.3% | |
| -0.1 to 0.0 | 234 | 3.4% | |
| 0.0 to 0.1 | 234 | 3.4% | |
| 0.1 to 0.2 | 273 | 4.0% | |
| 0.2 to 0.3 | 273 | 4.0% | |
| 0.3 to 0.4 | 287 | 4.2% | |
| 0.4 to 0.5 | 287 | 4.2% | |
| 0.5 to 0.6 | 366 | 5.4% | |
| 0.6 to 0.7 | 365 | 5.4% | |
| 0.7 to 0.8 | 766 | 11.2% | |
| 0.8 to 0.9 | 766 | 11.2% | |
| 0.9 to 1.0 | 966 | 14.2% |
Frequently asked questions
What is the average correlation of RNG?
RINGCENTRAL, INC. (RNG) has an average correlation of about 0.285 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is RNG positively correlated with other stocks?
Mostly yes — 67.3% of pairs are positive and 32.7% are negative. Strong positive correlations (≥0.7) make up 36.7%.
What is the most common correlation range for RNG?
The most common range is 0.9 to 1.0. Weak correlations (−0.3 to 0.3) account for 21.5% of all pairs.
Explore the full interactive correlation distribution for RNG.
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