NetApp Correlations

NTAP Stock

USD 98.26 1.52 1.52%

The current 90-days correlation between NetApp Inc and Arista Networks is 0.62 (i.e., Poor 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

Poor diversification

The correlation between NetApp Inc and DJI is 0.64 (i.e., Poor 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.

Build AI portfolio with NetApp Stock

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 together with NetApp Stock

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0.72	CSCO	Cisco Systems	Pair Corr
0.89	S	SentinelOne	Pair Corr
0.69	MU	Micron Technology	Pair Corr
0.66	AMD	Advanced Micro Devices	Pair Corr
0.73	IBM	International Business	Pair Corr
0.84	TSM	Taiwan Semiconductor Aggressive Push	Pair Corr
0.61	INTC	Intel	Pair Corr
0.85	MRVL	Marvell Technology Earnings Call This Week	Pair Corr
0.82	NVDA	NVIDIA Earnings Call This Week	Pair Corr
0.7	AVGO	Broadcom	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.8	AXP	American Express	Pair Corr
0.63	AA	Alcoa Corp	Pair Corr
0.77	DIS	Walt Disney	Pair Corr
0.76	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Related Correlations Analysis

	ANET	DELL	DDD	SSYS	WDC	LOGI	HPQ	NNDM	SMCI	PSTG
ANET		0.93	0.46	0.88	0.96	0.7	0.78	0.46	0.69	0.91	ANET
DELL	0.93		0.45	0.9	0.96	0.74	0.83	0.46	0.77	0.95	DELL
DDD	0.46	0.45		0.51	0.48	0.82	0.79	0.86	0.74	0.66	DDD
SSYS	0.88	0.9	0.51		0.89	0.74	0.81	0.49	0.7	0.89	SSYS
WDC	0.96	0.96	0.48	0.89		0.77	0.84	0.53	0.73	0.93	WDC
LOGI	0.7	0.74	0.82	0.74	0.77		0.97	0.87	0.79	0.84	LOGI
HPQ	0.78	0.83	0.79	0.81	0.84	0.97		0.8	0.86	0.91	HPQ
NNDM	0.46	0.46	0.86	0.49	0.53	0.87	0.8		0.67	0.63	NNDM
SMCI	0.69	0.77	0.74	0.7	0.73	0.79	0.86	0.67		0.86	SMCI
PSTG	0.91	0.95	0.66	0.89	0.93	0.84	0.91	0.63	0.86		PSTG
	ANET	DELL	DDD	SSYS	WDC	LOGI	HPQ	NNDM	SMCI	PSTG

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ANET	2.87	0.04	(0.07)	6.40	(6.96)	16.36
DELL	2.97	0.16	(0.01)	5.88	(6.76)	23.50
DDD	3.98	(1.24)	(0.88)	7.41	(8.57)	41.46
SSYS	1.99	(0.08)	(0.18)	3.65	(4.45)	19.27
WDC	2.67	0.13	(0.02)	5.95	(5.59)	24.21
LOGI	2.07	(0.09)	(0.16)	3.67	(3.69)	18.68
HPQ	1.93	(0.11)	(0.18)	2.84	(5.81)	16.78
NNDM	2.14	(0.51)	(1.00)	3.77	(4.67)	20.14
SMCI	5.38	(0.22)	2.15	12.23	(11.50)	28.20
PSTG	2.95	(0.04)	(0.11)	5.64	(6.28)	21.75

NetApp Corporate Management

Elizabeth JD	Interim 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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