TIM S.A. American Depositary Shares (Each representing 5 Common Shares) (TIMB) Correlation Distribution
Across 6,808 rolling correlation observations between TIM S.A. American Depositary Shares (Each representing 5 Common Shares) (TIMB) and other NASDAQ-listed stocks, 32.3% are positive and 67.7% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.172, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 2.7% and strong negative correlations (≤−0.7) for 2.9%.
- Total observations
- 6,808
- Mean correlation
- -0.172
- Most common range
- -0.7 to -0.6
- Positive pairs
- 32.3%
- Strong positive (≥0.7)
- 2.7%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 1 | 0.0% | |
| -0.9 to -0.8 | 97 | 1.4% | |
| -0.8 to -0.7 | 97 | 1.4% | |
| -0.7 to -0.6 | 959 | 14.1% | |
| -0.6 to -0.5 | 958 | 14.1% | |
| -0.5 to -0.4 | 754 | 11.1% | |
| -0.4 to -0.3 | 753 | 11.1% | |
| -0.3 to -0.2 | 353 | 5.2% | |
| -0.2 to -0.1 | 353 | 5.2% | |
| -0.1 to 0.0 | 281 | 4.1% | |
| 0.0 to 0.1 | 280 | 4.1% | |
| 0.1 to 0.2 | 245 | 3.6% | |
| 0.2 to 0.3 | 245 | 3.6% | |
| 0.3 to 0.4 | 291 | 4.3% | |
| 0.4 to 0.5 | 291 | 4.3% | |
| 0.5 to 0.6 | 334 | 4.9% | |
| 0.6 to 0.7 | 333 | 4.9% | |
| 0.7 to 0.8 | 92 | 1.4% | |
| 0.8 to 0.9 | 91 | 1.3% | |
| 0.9 to 1.0 | 0 | 0.0% |
Frequently asked questions
What is the average correlation of TIMB?
TIM S.A. American Depositary Shares (Each representing 5 Common Shares) (TIMB) has an average correlation of about -0.172 with other NASDAQ stocks, based on 6,808 pairwise observations.
Is TIMB positively correlated with other stocks?
Not predominantly — 32.3% of pairs are positive and 67.7% are negative. Strong positive correlations (≥0.7) make up 2.7%.
What is the most common correlation range for TIMB?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 25.8% of all pairs.
Explore the full interactive correlation distribution for TIMB.
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