Synopsys Inc (SNPS) Correlation Distribution
Across 6,809 rolling correlation observations between Synopsys Inc (SNPS) and other NASDAQ-listed stocks, 37.2% are positive and 62.8% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.139, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 13.5% and strong negative correlations (≤−0.7) for 16.1%.
- Total observations
- 6,809
- Mean correlation
- -0.139
- Most common range
- -0.7 to -0.6
- Positive pairs
- 37.2%
- Strong positive (≥0.7)
- 13.5%
- Sector
- Services-Prepackaged Software
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 8 | 0.1% | |
| -0.9 to -0.8 | 545 | 8.0% | |
| -0.8 to -0.7 | 545 | 8.0% | |
| -0.7 to -0.6 | 814 | 12.0% | |
| -0.6 to -0.5 | 814 | 12.0% | |
| -0.5 to -0.4 | 415 | 6.1% | |
| -0.4 to -0.3 | 415 | 6.1% | |
| -0.3 to -0.2 | 246 | 3.6% | |
| -0.2 to -0.1 | 246 | 3.6% | |
| -0.1 to 0.0 | 230 | 3.4% | |
| 0.0 to 0.1 | 230 | 3.4% | |
| 0.1 to 0.2 | 209 | 3.1% | |
| 0.2 to 0.3 | 209 | 3.1% | |
| 0.3 to 0.4 | 203 | 3.0% | |
| 0.4 to 0.5 | 203 | 3.0% | |
| 0.5 to 0.6 | 278 | 4.1% | |
| 0.6 to 0.7 | 277 | 4.1% | |
| 0.7 to 0.8 | 388 | 5.7% | |
| 0.8 to 0.9 | 387 | 5.7% | |
| 0.9 to 1.0 | 147 | 2.2% |
Frequently asked questions
What is the average correlation of SNPS?
Synopsys Inc (SNPS) has an average correlation of about -0.139 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is SNPS positively correlated with other stocks?
Not predominantly — 37.2% of pairs are positive and 62.8% are negative. Strong positive correlations (≥0.7) make up 13.5%.
What is the most common correlation range for SNPS?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 20.1% of all pairs.
Explore the full interactive correlation distribution for SNPS.
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