COMPANHIA DE SANEAMENTO B SICO DO ESTADO DE SAO PAULO-SABESP ADS'S (SBS) Correlation Distribution
Across 6,809 rolling correlation observations between COMPANHIA DE SANEAMENTO B SICO DO ESTADO DE SAO PAULO-SABESP ADS'S (SBS) and other NASDAQ-listed stocks, 33.9% are positive and 66.1% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.191, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 12.1% and strong negative correlations (≤−0.7) for 20%.
- Total observations
- 6,809
- Mean correlation
- -0.191
- Most common range
- -0.7 to -0.6
- Positive pairs
- 33.9%
- Strong positive (≥0.7)
- 12.1%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 32 | 0.5% | |
| -0.9 to -0.8 | 664 | 9.8% | |
| -0.8 to -0.7 | 664 | 9.8% | |
| -0.7 to -0.6 | 849 | 12.5% | |
| -0.6 to -0.5 | 848 | 12.5% | |
| -0.5 to -0.4 | 383 | 5.6% | |
| -0.4 to -0.3 | 382 | 5.6% | |
| -0.3 to -0.2 | 241 | 3.5% | |
| -0.2 to -0.1 | 241 | 3.5% | |
| -0.1 to 0.0 | 198 | 2.9% | |
| 0.0 to 0.1 | 197 | 2.9% | |
| 0.1 to 0.2 | 183 | 2.7% | |
| 0.2 to 0.3 | 182 | 2.7% | |
| 0.3 to 0.4 | 204 | 3.0% | |
| 0.4 to 0.5 | 204 | 3.0% | |
| 0.5 to 0.6 | 255 | 3.7% | |
| 0.6 to 0.7 | 255 | 3.7% | |
| 0.7 to 0.8 | 375 | 5.5% | |
| 0.8 to 0.9 | 374 | 5.5% | |
| 0.9 to 1.0 | 78 | 1.1% |
Frequently asked questions
What is the average correlation of SBS?
COMPANHIA DE SANEAMENTO B SICO DO ESTADO DE SAO PAULO-SABESP ADS'S (SBS) has an average correlation of about -0.191 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is SBS positively correlated with other stocks?
Not predominantly — 33.9% of pairs are positive and 66.1% are negative. Strong positive correlations (≥0.7) make up 12.1%.
What is the most common correlation range for SBS?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 18.2% of all pairs.
Explore the full interactive correlation distribution for SBS.
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