Sumitomo Mitsui Financial Group, Inc American Depositary Shares (each representing 3/5th of a share of common stock) (SMFG) Correlation Distribution
Across 6,809 rolling correlation observations between Sumitomo Mitsui Financial Group, Inc American Depositary Shares (each representing 3/5th of a share of common stock) (SMFG) and other NASDAQ-listed stocks, 38.3% are positive and 61.7% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.084, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 16.4% and strong negative correlations (≤−0.7) for 9.6%.
- Total observations
- 6,809
- Mean correlation
- -0.084
- Most common range
- -0.7 to -0.6
- Positive pairs
- 38.3%
- Strong positive (≥0.7)
- 16.4%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 17 | 0.2% | |
| -0.9 to -0.8 | 319 | 4.7% | |
| -0.8 to -0.7 | 319 | 4.7% | |
| -0.7 to -0.6 | 754 | 11.1% | |
| -0.6 to -0.5 | 754 | 11.1% | |
| -0.5 to -0.4 | 623 | 9.1% | |
| -0.4 to -0.3 | 623 | 9.1% | |
| -0.3 to -0.2 | 284 | 4.2% | |
| -0.2 to -0.1 | 283 | 4.2% | |
| -0.1 to 0.0 | 226 | 3.3% | |
| 0.0 to 0.1 | 225 | 3.3% | |
| 0.1 to 0.2 | 193 | 2.8% | |
| 0.2 to 0.3 | 192 | 2.8% | |
| 0.3 to 0.4 | 202 | 3.0% | |
| 0.4 to 0.5 | 202 | 3.0% | |
| 0.5 to 0.6 | 240 | 3.5% | |
| 0.6 to 0.7 | 239 | 3.5% | |
| 0.7 to 0.8 | 377 | 5.5% | |
| 0.8 to 0.9 | 377 | 5.5% | |
| 0.9 to 1.0 | 360 | 5.3% |
Frequently asked questions
What is the average correlation of SMFG?
Sumitomo Mitsui Financial Group, Inc American Depositary Shares (each representing 3/5th of a share of common stock) (SMFG) has an average correlation of about -0.084 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is SMFG positively correlated with other stocks?
Not predominantly — 38.3% of pairs are positive and 61.7% are negative. Strong positive correlations (≥0.7) make up 16.4%.
What is the most common correlation range for SMFG?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 20.6% of all pairs.
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