Tectonic Financial, Inc. 9.00% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (TECTP) Correlation Distribution
Across 6,617 rolling correlation observations between Tectonic Financial, Inc. 9.00% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (TECTP) and other NASDAQ-listed stocks, 54% are positive and 46% are negative. The most common correlation range is 0.3 to 0.4, and the average pairwise correlation is 0.049, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 3.9% and strong negative correlations (≤−0.7) for 2.7%.
- Total observations
- 6,617
- Mean correlation
- 0.049
- Most common range
- 0.3 to 0.4
- Positive pairs
- 54%
- Strong positive (≥0.7)
- 3.9%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 2 | 0.0% | |
| -0.9 to -0.8 | 89 | 1.3% | |
| -0.8 to -0.7 | 89 | 1.3% | |
| -0.7 to -0.6 | 293 | 4.4% | |
| -0.6 to -0.5 | 293 | 4.4% | |
| -0.5 to -0.4 | 476 | 7.2% | |
| -0.4 to -0.3 | 475 | 7.2% | |
| -0.3 to -0.2 | 466 | 7.0% | |
| -0.2 to -0.1 | 465 | 7.0% | |
| -0.1 to 0.0 | 393 | 5.9% | |
| 0.0 to 0.1 | 393 | 5.9% | |
| 0.1 to 0.2 | 437 | 6.6% | |
| 0.2 to 0.3 | 437 | 6.6% | |
| 0.3 to 0.4 | 559 | 8.4% | |
| 0.4 to 0.5 | 559 | 8.4% | |
| 0.5 to 0.6 | 468 | 7.1% | |
| 0.6 to 0.7 | 468 | 7.1% | |
| 0.7 to 0.8 | 127 | 1.9% | |
| 0.8 to 0.9 | 126 | 1.9% | |
| 0.9 to 1.0 | 2 | 0.0% |
Frequently asked questions
What is the average correlation of TECTP?
Tectonic Financial, Inc. 9.00% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (TECTP) has an average correlation of about 0.049 with other NASDAQ stocks, based on 6,617 pairwise observations.
Is TECTP positively correlated with other stocks?
Mostly yes — 54% of pairs are positive and 46% are negative. Strong positive correlations (≥0.7) make up 3.9%.
What is the most common correlation range for TECTP?
The most common range is 0.3 to 0.4. Weak correlations (−0.3 to 0.3) account for 39.2% of all pairs.
Explore the full interactive correlation distribution for TECTP.
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