Unity Bancorp (UNTY) Correlation Distribution
Across 6,809 rolling correlation observations between Unity Bancorp (UNTY) and other NASDAQ-listed stocks, 42.3% are positive and 57.7% are negative. The most common correlation range is -0.5 to -0.4, and the average pairwise correlation is -0.024, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 13.7% and strong negative correlations (≤−0.7) for 3.2%.
- Total observations
- 6,809
- Mean correlation
- -0.024
- Most common range
- -0.5 to -0.4
- Positive pairs
- 42.3%
- Strong positive (≥0.7)
- 13.7%
- Sector
- State Commercial Banks
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 1 | 0.0% | |
| -0.9 to -0.8 | 110 | 1.6% | |
| -0.8 to -0.7 | 110 | 1.6% | |
| -0.7 to -0.6 | 613 | 9.0% | |
| -0.6 to -0.5 | 612 | 9.0% | |
| -0.5 to -0.4 | 633 | 9.3% | |
| -0.4 to -0.3 | 633 | 9.3% | |
| -0.3 to -0.2 | 462 | 6.8% | |
| -0.2 to -0.1 | 462 | 6.8% | |
| -0.1 to 0.0 | 296 | 4.3% | |
| 0.0 to 0.1 | 295 | 4.3% | |
| 0.1 to 0.2 | 256 | 3.8% | |
| 0.2 to 0.3 | 256 | 3.8% | |
| 0.3 to 0.4 | 256 | 3.8% | |
| 0.4 to 0.5 | 256 | 3.8% | |
| 0.5 to 0.6 | 313 | 4.6% | |
| 0.6 to 0.7 | 313 | 4.6% | |
| 0.7 to 0.8 | 426 | 6.3% | |
| 0.8 to 0.9 | 426 | 6.3% | |
| 0.9 to 1.0 | 80 | 1.2% |
Frequently asked questions
What is the average correlation of UNTY?
Unity Bancorp (UNTY) has an average correlation of about -0.024 with other NASDAQ stocks, based on 6,809 pairwise observations.
Is UNTY positively correlated with other stocks?
Not predominantly — 42.3% of pairs are positive and 57.7% are negative. Strong positive correlations (≥0.7) make up 13.7%.
What is the most common correlation range for UNTY?
The most common range is -0.5 to -0.4. Weak correlations (−0.3 to 0.3) account for 29.8% of all pairs.
Explore the full interactive correlation distribution for UNTY.
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