NetApp Correlations

NTAP Stock

USD 123.45 1.25 1.02%

The current 90-days correlation between NetApp Inc and Brunswick is 0.42 (i.e., Very weak diversification). The correlation of NetApp is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

NetApp Correlation With Market

Weak diversification

The correlation between NetApp Inc and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NetApp Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NetApp Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving against NetApp Stock

0.6

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Pair Corr

Related Correlations Analysis

	BC	PLNT	FSI	JDDSF	MSN	CF	LXFR	ASO
BC		0.14	0.44	0.24	0.66	0.55	0.56	0.19	BC
PLNT	0.14		0.5	0.15	-0.1	0.35	0.56	-0.54	PLNT
FSI	0.44	0.5		0.64	0.49	0.44	0.88	-0.55	FSI
JDDSF	0.24	0.15	0.64		0.43	0.08	0.58	-0.41	JDDSF
MSN	0.66	-0.1	0.49	0.43		0.5	0.53	0.12	MSN
CF	0.55	0.35	0.44	0.08	0.5		0.61	-0.26	CF
LXFR	0.56	0.56	0.88	0.58	0.53	0.61		-0.49	LXFR
ASO	0.19	-0.54	-0.55	-0.41	0.12	-0.26	-0.49		ASO
	BC	PLNT	FSI	JDDSF	MSN	CF	LXFR	ASO

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

LXFR	+ 0.88	FSI
MSN	+ 0.66	BC
JDDSF	+ 0.64	FSI
LXFR	+ 0.61	CF
LXFR	+ 0.58	JDDSF
LXFR	+ 0.56	BC

High negative correlations

ASO	- 0.55	FSI
ASO	- 0.54	PLNT
ASO	- 0.49	LXFR
ASO	- 0.41	JDDSF
ASO	- 0.26	CF
MSN	- 0.1	PLNT

Risk-Adjusted Indicators

There is a big difference between NetApp Stock performing well and NetApp Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze NetApp's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BC	1.55	(0.07)	0.00	0.05	1.67	(1.68)	3.84	(2.82)	8.89
PLNT	1.31	0.27	0.18	0.44	1.14	(1.53)	3.44	(2.60)	12.22
FSI	2.60	0.44	0.10	10.34	3.10	(2.97)	6.31	(4.58)	22.22
JDDSF	0.54	(0.13)	0.00	(0.37)	0.00	0.00	0.00	0.00	29.30
MSN	2.28	0.05	0.00	0.19	2.72	(4.27)	6.82	(5.66)	16.89
CF	1.18	0.17	0.05	1.21	1.57	(1.11)	2.17	(2.19)	6.82
LXFR	1.85	0.42	0.23	0.49	1.49	(2.40)	3.72	(2.67)	16.55
ASO	1.63	(0.30)	0.00	(0.98)	0.00	0.00	3.99	(3.25)	9.63

NetApp Corporate Management

Elizabeth JD	Chief VP	Profile
Daniel Lorenzo	Controller VP	Profile
Puneet Gupta	Managing Services	Profile
Gus Shahin	Executive Operations	Profile
Alessandra Yockelson	Executive CHRO	Profile
Elizabeth OCallahan	Chief VP	Profile

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