Texas Pacific Land Corporation (TPL) Correlation Distribution
Across 6,809 rolling correlation observations between Texas Pacific Land Corporation (TPL) and other NASDAQ-listed stocks, 39.5% are positive and 60.5% are negative. The most common correlation range is -0.7 to -0.6, and the average pairwise correlation is -0.071, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 11.4% and strong negative correlations (≤−0.7) for 2.7%.
- Total observations
- 6,809
- Mean correlation
- -0.071
- Most common range
- -0.7 to -0.6
- Positive pairs
- 39.5%
- Strong positive (≥0.7)
- 11.4%
- Sector
- Oil Royalty Traders
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 0 | 0.0% | |
| -0.9 to -0.8 | 92 | 1.4% | |
| -0.8 to -0.7 | 91 | 1.3% | |
| -0.7 to -0.6 | 762 | 11.2% | |
| -0.6 to -0.5 | 761 | 11.2% | |
| -0.5 to -0.4 | 732 | 10.8% | |
| -0.4 to -0.3 | 732 | 10.8% | |
| -0.3 to -0.2 | 333 | 4.9% | |
| -0.2 to -0.1 | 332 | 4.9% | |
| -0.1 to 0.0 | 286 | 4.2% | |
| 0.0 to 0.1 | 286 | 4.2% | |
| 0.1 to 0.2 | 263 | 3.9% | |
| 0.2 to 0.3 | 263 | 3.9% | |
| 0.3 to 0.4 | 244 | 3.6% | |
| 0.4 to 0.5 | 244 | 3.6% | |
| 0.5 to 0.6 | 305 | 4.5% | |
| 0.6 to 0.7 | 305 | 4.5% | |
| 0.7 to 0.8 | 372 | 5.5% | |
| 0.8 to 0.9 | 372 | 5.5% | |
| 0.9 to 1.0 | 34 | 0.5% |
Frequently asked questions
What is the average correlation of TPL?
Texas Pacific Land Corporation (TPL) has an average correlation of about -0.071 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is TPL positively correlated with other stocks?
Not predominantly — 39.5% of pairs are positive and 60.5% are negative. Strong positive correlations (≥0.7) make up 11.4%.
What is the most common correlation range for TPL?
The most common range is -0.7 to -0.6. Weak correlations (−0.3 to 0.3) account for 25.9% of all pairs.
Explore the full interactive correlation distribution for TPL.
Open interactive dashboard →