XBiotech Inc (XBIT) Correlation Distribution
Across 6,808 rolling correlation observations between XBiotech Inc (XBIT) and other NASDAQ-listed stocks, 65% are positive and 35% are negative. The most common correlation range is 0.7 to 0.8, and the average pairwise correlation is 0.253, indicating a mild positive co-movement. Strong positive correlations (≥0.7) account for 31.5% and strong negative correlations (≤−0.7) for 3.6%.
- Total observations
- 6,808
- Mean correlation
- 0.253
- Most common range
- 0.7 to 0.8
- Positive pairs
- 65%
- Strong positive (≥0.7)
- 31.5%
- Sector
- Pharmaceutical Preparations
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 11 | 0.2% | |
| -0.9 to -0.8 | 117 | 1.7% | |
| -0.8 to -0.7 | 116 | 1.7% | |
| -0.7 to -0.6 | 284 | 4.2% | |
| -0.6 to -0.5 | 283 | 4.2% | |
| -0.5 to -0.4 | 340 | 5.0% | |
| -0.4 to -0.3 | 339 | 5.0% | |
| -0.3 to -0.2 | 301 | 4.4% | |
| -0.2 to -0.1 | 300 | 4.4% | |
| -0.1 to 0.0 | 291 | 4.3% | |
| 0.0 to 0.1 | 290 | 4.3% | |
| 0.1 to 0.2 | 264 | 3.9% | |
| 0.2 to 0.3 | 263 | 3.9% | |
| 0.3 to 0.4 | 300 | 4.4% | |
| 0.4 to 0.5 | 300 | 4.4% | |
| 0.5 to 0.6 | 433 | 6.4% | |
| 0.6 to 0.7 | 433 | 6.4% | |
| 0.7 to 0.8 | 832 | 12.2% | |
| 0.8 to 0.9 | 831 | 12.2% | |
| 0.9 to 1.0 | 480 | 7.1% |
Frequently asked questions
What is the average correlation of XBIT?
XBiotech Inc (XBIT) has an average correlation of about 0.253 with other NASDAQ stocks, based on 6,808 pairwise observations.
Is XBIT positively correlated with other stocks?
Mostly yes — 65% of pairs are positive and 35% are negative. Strong positive correlations (≥0.7) make up 31.5%.
What is the most common correlation range for XBIT?
The most common range is 0.7 to 0.8. Weak correlations (−0.3 to 0.3) account for 25.1% of all pairs.
Explore the full interactive correlation distribution for XBIT.
Open interactive dashboard →