Shoals Technologies Group, Inc. Class A Common Stock (SHLS) Correlation Distribution
Across 6,808 rolling correlation observations between Shoals Technologies Group, Inc. Class A Common Stock (SHLS) and other NASDAQ-listed stocks, 66.1% are positive and 33.9% are negative. The most common correlation range is 0.5 to 0.6, and the average pairwise correlation is 0.187, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 16.9% and strong negative correlations (≤−0.7) for 9.6%.
- Total observations
- 6,808
- Mean correlation
- 0.187
- Most common range
- 0.5 to 0.6
- Positive pairs
- 66.1%
- Strong positive (≥0.7)
- 16.9%
- Sector
- Semiconductors & Related Devices
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 16 | 0.2% | |
| -0.9 to -0.8 | 319 | 4.7% | |
| -0.8 to -0.7 | 318 | 4.7% | |
| -0.7 to -0.6 | 293 | 4.3% | |
| -0.6 to -0.5 | 292 | 4.3% | |
| -0.5 to -0.4 | 212 | 3.1% | |
| -0.4 to -0.3 | 211 | 3.1% | |
| -0.3 to -0.2 | 217 | 3.2% | |
| -0.2 to -0.1 | 216 | 3.2% | |
| -0.1 to 0.0 | 213 | 3.1% | |
| 0.0 to 0.1 | 213 | 3.1% | |
| 0.1 to 0.2 | 294 | 4.3% | |
| 0.2 to 0.3 | 294 | 4.3% | |
| 0.3 to 0.4 | 413 | 6.1% | |
| 0.4 to 0.5 | 413 | 6.1% | |
| 0.5 to 0.6 | 861 | 12.6% | |
| 0.6 to 0.7 | 860 | 12.6% | |
| 0.7 to 0.8 | 564 | 8.3% | |
| 0.8 to 0.9 | 563 | 8.3% | |
| 0.9 to 1.0 | 26 | 0.4% |
Frequently asked questions
What is the average correlation of SHLS?
Shoals Technologies Group, Inc. Class A Common Stock (SHLS) has an average correlation of about 0.187 with other NASDAQ stocks, based on 6,808 pairwise observations.
Is SHLS positively correlated with other stocks?
Mostly yes — 66.1% of pairs are positive and 33.9% are negative. Strong positive correlations (≥0.7) make up 16.9%.
What is the most common correlation range for SHLS?
The most common range is 0.5 to 0.6. Weak correlations (−0.3 to 0.3) account for 21.3% of all pairs.
Explore the full interactive correlation distribution for SHLS.
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