TELA Bio, Inc. Common Stock (TELA) Correlation Distribution
Across 6,808 rolling correlation observations between TELA Bio, Inc. Common Stock (TELA) and other NASDAQ-listed stocks, 64.2% are positive and 35.8% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.187, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 26.1% and strong negative correlations (≤−0.7) for 12.3%.
- Total observations
- 6,808
- Mean correlation
- 0.187
- Most common range
- 0.7 to 0.8
- Positive pairs
- 64.2%
- Strong positive (≥0.7)
- 26.1%
- Sector
- Surgical & Medical Instruments & Apparatus
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 54 | 0.8% | |
| -0.9 to -0.8 | 392 | 5.8% | |
| -0.8 to -0.7 | 392 | 5.8% | |
| -0.7 to -0.6 | 288 | 4.2% | |
| -0.6 to -0.5 | 288 | 4.2% | |
| -0.5 to -0.4 | 214 | 3.1% | |
| -0.4 to -0.3 | 214 | 3.1% | |
| -0.3 to -0.2 | 192 | 2.8% | |
| -0.2 to -0.1 | 192 | 2.8% | |
| -0.1 to 0.0 | 208 | 3.1% | |
| 0.0 to 0.1 | 207 | 3.0% | |
| 0.1 to 0.2 | 237 | 3.5% | |
| 0.2 to 0.3 | 237 | 3.5% | |
| 0.3 to 0.4 | 320 | 4.7% | |
| 0.4 to 0.5 | 319 | 4.7% | |
| 0.5 to 0.6 | 637 | 9.4% | |
| 0.6 to 0.7 | 637 | 9.4% | |
| 0.7 to 0.8 | 871 | 12.8% | |
| 0.8 to 0.9 | 871 | 12.8% | |
| 0.9 to 1.0 | 38 | 0.6% |
Frequently asked questions
What is the average correlation of TELA?
TELA Bio, Inc. Common Stock (TELA) has an average correlation of about 0.187 with other NASDAQ stocks, based on 6,808 pairwise observations.
Is TELA positively correlated with other stocks?
Mostly yes — 64.2% of pairs are positive and 35.8% are negative. Strong positive correlations (≥0.7) make up 26.1%.
What is the most common correlation range for TELA?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 18.7% of all pairs.
Explore the full interactive correlation distribution for TELA.
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