Shopify Inc. Class A subordinate voting shares (SHOP) Correlation Distribution
Across 6,809 rolling correlation observations between Shopify Inc. Class A subordinate voting shares (SHOP) and other NASDAQ-listed stocks, 72.6% are positive and 27.4% are negative. The most common correlation range is 0.5 to 0.6, and the average pairwise correlation is 0.261, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 13.3% and strong negative correlations (≤−0.7) for 1.6%.
- Total observations
- 6,809
- Mean correlation
- 0.261
- Most common range
- 0.5 to 0.6
- Positive pairs
- 72.6%
- Strong positive (≥0.7)
- 13.3%
- Sector
- Services-Prepackaged Software
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 55 | 0.8% | |
| -0.8 to -0.7 | 55 | 0.8% | |
| -0.7 to -0.6 | 157 | 2.3% | |
| -0.6 to -0.5 | 157 | 2.3% | |
| -0.5 to -0.4 | 206 | 3.0% | |
| -0.4 to -0.3 | 205 | 3.0% | |
| -0.3 to -0.2 | 308 | 4.5% | |
| -0.2 to -0.1 | 308 | 4.5% | |
| -0.1 to 0.0 | 417 | 6.1% | |
| 0.0 to 0.1 | 416 | 6.1% | |
| 0.1 to 0.2 | 422 | 6.2% | |
| 0.2 to 0.3 | 422 | 6.2% | |
| 0.3 to 0.4 | 559 | 8.2% | |
| 0.4 to 0.5 | 558 | 8.2% | |
| 0.5 to 0.6 | 829 | 12.2% | |
| 0.6 to 0.7 | 829 | 12.2% | |
| 0.7 to 0.8 | 433 | 6.4% | |
| 0.8 to 0.9 | 433 | 6.4% | |
| 0.9 to 1.0 | 40 | 0.6% |
Frequently asked questions
What is the average correlation of SHOP?
Shopify Inc. Class A subordinate voting shares (SHOP) has an average correlation of about 0.261 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is SHOP positively correlated with other stocks?
Mostly yes — 72.6% of pairs are positive and 27.4% are negative. Strong positive correlations (≥0.7) make up 13.3%.
What is the most common correlation range for SHOP?
The most common range is 0.5 to 0.6. Weak correlations (−0.3 to 0.3) account for 33.7% of all pairs.
Explore the full interactive correlation distribution for SHOP.
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