UTAA (UTAA) Correlation Distribution
Across 6,093 rolling correlation observations between UTAA (UTAA) and other NASDAQ-listed stocks, 33.4% are positive and 66.6% are negative. The most common correlation range is -0.9 to -0.8, and the average pairwise correlation is -0.204, indicating a negative co-movement bias. Strong positive correlations (≥0.7) account for 12.2% and strong negative correlations (≤−0.7) for 24.4%.
- Total observations
- 6,093
- Mean correlation
- -0.204
- Most common range
- -0.9 to -0.8
- Positive pairs
- 33.4%
- Strong positive (≥0.7)
- 12.2%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 99 | 1.6% | |
| -0.9 to -0.8 | 695 | 11.4% | |
| -0.8 to -0.7 | 694 | 11.4% | |
| -0.7 to -0.6 | 613 | 10.1% | |
| -0.6 to -0.5 | 613 | 10.1% | |
| -0.5 to -0.4 | 373 | 6.1% | |
| -0.4 to -0.3 | 372 | 6.1% | |
| -0.3 to -0.2 | 208 | 3.4% | |
| -0.2 to -0.1 | 208 | 3.4% | |
| -0.1 to 0.0 | 182 | 3.0% | |
| 0.0 to 0.1 | 182 | 3.0% | |
| 0.1 to 0.2 | 181 | 3.0% | |
| 0.2 to 0.3 | 180 | 3.0% | |
| 0.3 to 0.4 | 171 | 2.8% | |
| 0.4 to 0.5 | 171 | 2.8% | |
| 0.5 to 0.6 | 203 | 3.3% | |
| 0.6 to 0.7 | 202 | 3.3% | |
| 0.7 to 0.8 | 272 | 4.5% | |
| 0.8 to 0.9 | 272 | 4.5% | |
| 0.9 to 1.0 | 202 | 3.3% |
Frequently asked questions
What is the average correlation of UTAA?
UTAA (UTAA) has an average correlation of about -0.204 with other NASDAQ stocks, based on 6,093 pairwise observations.
Is UTAA positively correlated with other stocks?
Not predominantly — 33.4% of pairs are positive and 66.6% are negative. Strong positive correlations (≥0.7) make up 12.2%.
What is the most common correlation range for UTAA?
The most common range is -0.9 to -0.8. Weak correlations (−0.3 to 0.3) account for 18.7% of all pairs.
Explore the full interactive correlation distribution for UTAA.
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