Tortoise Essential Energy Fund (TPZ) Correlation Distribution
Across 6,809 rolling correlation observations between Tortoise Essential Energy Fund (TPZ) and other NASDAQ-listed stocks, 43.2% are positive and 56.8% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is -0.012, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 15.8% and strong negative correlations (≤−0.7) for 4.2%.
- Total observations
- 6,809
- Mean correlation
- -0.012
- Most common range
- -0.5 to -0.4
- Positive pairs
- 43.2%
- Strong positive (≥0.7)
- 15.8%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 2 | 0.0% | |
| -0.9 to -0.8 | 141 | 2.1% | |
| -0.8 to -0.7 | 140 | 2.1% | |
| -0.7 to -0.6 | 587 | 8.6% | |
| -0.6 to -0.5 | 587 | 8.6% | |
| -0.5 to -0.4 | 650 | 9.5% | |
| -0.4 to -0.3 | 650 | 9.5% | |
| -0.3 to -0.2 | 402 | 5.9% | |
| -0.2 to -0.1 | 401 | 5.9% | |
| -0.1 to 0.0 | 307 | 4.5% | |
| 0.0 to 0.1 | 307 | 4.5% | |
| 0.1 to 0.2 | 250 | 3.7% | |
| 0.2 to 0.3 | 250 | 3.7% | |
| 0.3 to 0.4 | 236 | 3.5% | |
| 0.4 to 0.5 | 236 | 3.5% | |
| 0.5 to 0.6 | 295 | 4.3% | |
| 0.6 to 0.7 | 295 | 4.3% | |
| 0.7 to 0.8 | 431 | 6.3% | |
| 0.8 to 0.9 | 430 | 6.3% | |
| 0.9 to 1.0 | 212 | 3.1% |
Frequently asked questions
What is the average correlation of TPZ?
Tortoise Essential Energy Fund (TPZ) has an average correlation of about -0.012 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is TPZ positively correlated with other stocks?
Not predominantly — 43.2% of pairs are positive and 56.8% are negative. Strong positive correlations (≥0.7) make up 15.8%.
What is the most common correlation range for TPZ?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 28.2% of all pairs.
Explore the full interactive correlation distribution for TPZ.
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