Pure Storage Correlations

PSTG Stock

USD 58.12 0.87 1.52%

The current 90-days correlation between Pure Storage and NetApp Inc is 0.67 (i.e., Poor diversification). The correlation of Pure Storage 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.

Pure Storage Correlation With Market

Very weak diversification

The correlation between Pure Storage and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pure Storage and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Pure Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Pure Storage. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more detail on how to invest in Pure Stock please use our How to Invest in Pure Storage guide.

Moving together with Pure Stock

0.92	CDW	CDW Corp	Pair Corr
0.78	LPL	LG Display Earnings Call This Week	Pair Corr
0.85	VSH	Vishay Intertechnology	Pair Corr
0.85	LASR	nLIGHT Inc	Pair Corr
0.87	LITE	Lumentum Holdings	Pair Corr
0.9	NTGR	NETGEAR	Pair Corr
0.79	RGTIW	Rigetti Computing Trending	Pair Corr
0.86	QBTS	D Wave Quantum Aggressive Push	Pair Corr
0.74	QUBT	Quantum Computing Aggressive Push	Pair Corr
0.66	RDWR	Radware	Pair Corr
0.79	RGTI	Rigetti Computing Trending	Pair Corr
0.76	AAOI	Applied Opt	Pair Corr
0.7	ADTN	ADTRAN Inc	Pair Corr
0.86	AVNW	Aviat Networks	Pair Corr
0.92	CIEN	Ciena Corp	Pair Corr
0.87	CRNT	Ceragon Networks	Pair Corr
0.87	CSCO	Cisco Systems	Pair Corr
0.66	MI	NFT Limited	Pair Corr
0.81	MU	Micron Technology	Pair Corr
0.89	MX	MagnaChip Semiconductor	Pair Corr
0.77	ON	ON Semiconductor	Pair Corr
0.88	VRRM	Verra Mobility Corp	Pair Corr
0.91	ADI	Analog Devices	Pair Corr
0.79	AMD	Advanced Micro Devices Aggressive Push	Pair Corr
0.67	ANY	Sphere 3D Corp	Pair Corr
0.84	ARM	Arm Holdings plc	Pair Corr
0.74	FRGE	Forge Global Holdings	Pair Corr
0.91	GFS	Globalfoundries	Pair Corr

Moving against Pure Stock

0.51	IMTE	Integrated Media Tec Tech Boost	Pair Corr
0.53	FRGT	Freight Technologies	Pair Corr

Related Correlations Analysis

	NTAP	ANET	DELL	DDD	SSYS	NTNX	PRLB
NTAP		0.91	0.96	-0.5	0.87	0.74	0.81	NTAP
ANET	0.91		0.9	-0.33	0.86	0.71	0.85	ANET
DELL	0.96	0.9		-0.58	0.87	0.67	0.76	DELL
DDD	-0.5	-0.33	-0.58		-0.28	-0.29	-0.11	DDD
SSYS	0.87	0.86	0.87	-0.28		0.74	0.91	SSYS
NTNX	0.74	0.71	0.67	-0.29	0.74		0.79	NTNX
PRLB	0.81	0.85	0.76	-0.11	0.91	0.79		PRLB
	NTAP	ANET	DELL	DDD	SSYS	NTNX	PRLB

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

DELL	+ 0.96	NTAP
ANET	+ 0.91	NTAP
PRLB	+ 0.91	SSYS
DELL	+ 0.9	ANET
SSYS	+ 0.87	NTAP
SSYS	+ 0.87	DELL

High negative correlations

DDD	- 0.58	DELL
DDD	- 0.5	NTAP
DDD	- 0.33	ANET
NTNX	- 0.29	DDD
SSYS	- 0.28	DDD
PRLB	- 0.11	DDD

Risk-Adjusted Indicators

There is a big difference between Pure Stock performing well and Pure Storage 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 Pure Storage'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
NTAP	1.20	0.27	0.24	0.38	0.71	(1.42)	3.70	(1.64)	8.33
ANET	2.27	0.47	0.17	0.43	2.33	(2.37)	6.40	(4.76)	13.69
DELL	1.76	0.52	0.37	0.55	0.94	(2.18)	5.88	(2.50)	11.22
DDD	4.20	(0.38)	(0.02)	0.00	6.59	(4.79)	7.93	(6.80)	41.46
SSYS	1.58	0.07	0.06	0.19	1.48	(1.92)	3.78	(2.44)	19.27
NTNX	1.53	0.25	0.12	0.46	1.53	(1.74)	3.85	(2.17)	11.06
PRLB	1.52	0.03	0.05	0.15	1.61	(1.53)	3.79	(2.87)	12.51

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC