Steel Dynamics Inc (STLD) Correlation Distribution
Across 6,809 rolling correlation observations between Steel Dynamics Inc (STLD) and other NASDAQ-listed stocks, 37.1% are positive and 62.9% are negative. The most common correlation range is -0.9 to -0.8, and the average pairwise correlation is -0.173, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 13.5% and strong negative correlations (≤−0.7) for 27.7%.
- Total observations
- 6,809
- Mean correlation
- -0.173
- Most common range
- -0.9 to -0.8
- Positive pairs
- 37.1%
- Strong positive (≥0.7)
- 13.5%
- Sector
- Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 56 | 0.8% | |
| -0.9 to -0.8 | 917 | 13.5% | |
| -0.8 to -0.7 | 916 | 13.5% | |
| -0.7 to -0.6 | 566 | 8.3% | |
| -0.6 to -0.5 | 565 | 8.3% | |
| -0.5 to -0.4 | 299 | 4.4% | |
| -0.4 to -0.3 | 299 | 4.4% | |
| -0.3 to -0.2 | 235 | 3.5% | |
| -0.2 to -0.1 | 235 | 3.5% | |
| -0.1 to 0.0 | 198 | 2.9% | |
| 0.0 to 0.1 | 197 | 2.9% | |
| 0.1 to 0.2 | 205 | 3.0% | |
| 0.2 to 0.3 | 204 | 3.0% | |
| 0.3 to 0.4 | 202 | 3.0% | |
| 0.4 to 0.5 | 201 | 3.0% | |
| 0.5 to 0.6 | 296 | 4.3% | |
| 0.6 to 0.7 | 296 | 4.3% | |
| 0.7 to 0.8 | 412 | 6.1% | |
| 0.8 to 0.9 | 411 | 6.0% | |
| 0.9 to 1.0 | 99 | 1.5% |
Frequently asked questions
What is the average correlation of STLD?
Steel Dynamics Inc (STLD) has an average correlation of about -0.173 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is STLD positively correlated with other stocks?
Not predominantly — 37.1% of pairs are positive and 62.9% are negative. Strong positive correlations (≥0.7) make up 13.5%.
What is the most common correlation range for STLD?
The most common range is -0.9 to -0.8. Weak correlations (−0.3 to 0.3) account for 18.7% of all pairs.
Explore the full interactive correlation distribution for STLD.
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