Construction Partners, Inc. Class A Common Stock (ROAD) Correlation Distribution
Across 6,809 rolling correlation observations between Construction Partners, Inc. Class A Common Stock (ROAD) and other NASDAQ-listed stocks, 42% are positive and 58% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is -0.018, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 15.1% and strong negative correlations (≤−0.7) for 4.6%.
- Total observations
- 6,809
- Mean correlation
- -0.018
- Most common range
- -0.5 to -0.4
- Positive pairs
- 42%
- Strong positive (≥0.7)
- 15.1%
- Sector
- Heavy Construction Other Than Bldg Const - Contractors
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 3 | 0.0% | |
| -0.9 to -0.8 | 156 | 2.3% | |
| -0.8 to -0.7 | 155 | 2.3% | |
| -0.7 to -0.6 | 477 | 7.0% | |
| -0.6 to -0.5 | 476 | 7.0% | |
| -0.5 to -0.4 | 780 | 11.5% | |
| -0.4 to -0.3 | 779 | 11.4% | |
| -0.3 to -0.2 | 409 | 6.0% | |
| -0.2 to -0.1 | 408 | 6.0% | |
| -0.1 to 0.0 | 303 | 4.4% | |
| 0.0 to 0.1 | 302 | 4.4% | |
| 0.1 to 0.2 | 235 | 3.5% | |
| 0.2 to 0.3 | 235 | 3.5% | |
| 0.3 to 0.4 | 249 | 3.7% | |
| 0.4 to 0.5 | 249 | 3.7% | |
| 0.5 to 0.6 | 282 | 4.1% | |
| 0.6 to 0.7 | 281 | 4.1% | |
| 0.7 to 0.8 | 398 | 5.8% | |
| 0.8 to 0.9 | 397 | 5.8% | |
| 0.9 to 1.0 | 235 | 3.5% |
Frequently asked questions
What is the average correlation of ROAD?
Construction Partners, Inc. Class A Common Stock (ROAD) has an average correlation of about -0.018 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is ROAD positively correlated with other stocks?
Not predominantly — 42% of pairs are positive and 58% are negative. Strong positive correlations (≥0.7) make up 15.1%.
What is the most common correlation range for ROAD?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 27.8% of all pairs.
Explore the full interactive correlation distribution for ROAD.
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