Rapid Micro Biosystems, Inc. Class A Common Stock (RPID) Correlation Distribution
Across 6,804 rolling correlation observations between Rapid Micro Biosystems, Inc. Class A Common Stock (RPID) and other NASDAQ-listed stocks, 71.3% are positive and 28.7% are negative. The most common correlation range is 0.9 to 1.0, and the average pairwise correlation is 0.351, indicating a clearly positive co-movement bias. Strong positive correlations (≥0.7) account for 38.1% and strong negative correlations (≤−0.7) for 2.2%.
- Total observations
- 6,804
- Mean correlation
- 0.351
- Most common range
- 0.9 to 1.0
- Positive pairs
- 71.3%
- Strong positive (≥0.7)
- 38.1%
- Sector
- Laboratory Analytical Instruments
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 74 | 1.1% | |
| -0.8 to -0.7 | 74 | 1.1% | |
| -0.7 to -0.6 | 206 | 3.0% | |
| -0.6 to -0.5 | 205 | 3.0% | |
| -0.5 to -0.4 | 303 | 4.5% | |
| -0.4 to -0.3 | 303 | 4.5% | |
| -0.3 to -0.2 | 276 | 4.1% | |
| -0.2 to -0.1 | 275 | 4.0% | |
| -0.1 to 0.0 | 238 | 3.5% | |
| 0.0 to 0.1 | 237 | 3.5% | |
| 0.1 to 0.2 | 247 | 3.6% | |
| 0.2 to 0.3 | 247 | 3.6% | |
| 0.3 to 0.4 | 317 | 4.7% | |
| 0.4 to 0.5 | 317 | 4.7% | |
| 0.5 to 0.6 | 446 | 6.6% | |
| 0.6 to 0.7 | 445 | 6.5% | |
| 0.7 to 0.8 | 819 | 12.0% | |
| 0.8 to 0.9 | 819 | 12.0% | |
| 0.9 to 1.0 | 956 | 14.1% |
Frequently asked questions
What is the average correlation of RPID?
Rapid Micro Biosystems, Inc. Class A Common Stock (RPID) has an average correlation of about 0.351 with other NASDAQ stocks, based on 6,804 pairwise observations.
Is RPID positively correlated with other stocks?
Mostly yes — 71.3% of pairs are positive and 28.7% are negative. Strong positive correlations (≥0.7) make up 38.1%.
What is the most common correlation range for RPID?
The most common range is 0.9 to 1.0. Weak correlations (−0.3 to 0.3) account for 22.3% of all pairs.
Explore the full interactive correlation distribution for RPID.
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