Shell plc American Depositary Shares (Each represents two Ordinary shares) (SHEL) Correlation Distribution
Across 6,759 rolling correlation observations between Shell plc American Depositary Shares (Each represents two Ordinary shares) (SHEL) and other NASDAQ-listed stocks, 40.4% are positive and 59.6% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.105, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 11.5% and strong negative correlations (≤−0.7) for 15.6%.
- Total observations
- 6,759
- Mean correlation
- -0.105
- Most common range
- -0.7 to -0.6
- Positive pairs
- 40.4%
- Strong positive (≥0.7)
- 11.5%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 527 | 7.8% | |
| -0.8 to -0.7 | 527 | 7.8% | |
| -0.7 to -0.6 | 646 | 9.6% | |
| -0.6 to -0.5 | 645 | 9.5% | |
| -0.5 to -0.4 | 412 | 6.1% | |
| -0.4 to -0.3 | 411 | 6.1% | |
| -0.3 to -0.2 | 310 | 4.6% | |
| -0.2 to -0.1 | 310 | 4.6% | |
| -0.1 to 0.0 | 238 | 3.5% | |
| 0.0 to 0.1 | 238 | 3.5% | |
| 0.1 to 0.2 | 236 | 3.5% | |
| 0.2 to 0.3 | 235 | 3.5% | |
| 0.3 to 0.4 | 264 | 3.9% | |
| 0.4 to 0.5 | 264 | 3.9% | |
| 0.5 to 0.6 | 360 | 5.3% | |
| 0.6 to 0.7 | 360 | 5.3% | |
| 0.7 to 0.8 | 378 | 5.6% | |
| 0.8 to 0.9 | 378 | 5.6% | |
| 0.9 to 1.0 | 20 | 0.3% |
Frequently asked questions
What is the average correlation of SHEL?
Shell plc American Depositary Shares (Each represents two Ordinary shares) (SHEL) has an average correlation of about -0.105 with other NASDAQ stocks, based on 6,759 pairwise observations.
Is SHEL positively correlated with other stocks?
Not predominantly — 40.4% of pairs are positive and 59.6% are negative. Strong positive correlations (≥0.7) make up 11.5%.
What is the most common correlation range for SHEL?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 23.2% of all pairs.
Explore the full interactive correlation distribution for SHEL.
Open interactive dashboard →