Palantir Technologies Correlations

PLTR Stock  USD 132.81  0.75  0.57%   
The current 90-days correlation between Palantir Technologies and Palo Alto Networks is 0.69 (i.e., Poor diversification). The correlation of Palantir Technologies 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.

Palantir Technologies Correlation With Market

Poor diversification

The correlation between Palantir Technologies Class and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Palantir Technologies Class and DJI in the same portfolio, assuming nothing else is changed.
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Palantir Technologies Class. 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.

Moving together with Palantir Stock

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  0.75FFIV F5 NetworksPairCorr
  0.93DBX DropboxPairCorr
  0.78DLO DlocalPairCorr
  0.76FTNT FortinetPairCorr
  0.86IOT Samsara Downward RallyPairCorr
  0.82NET CloudflarePairCorr
  0.88ODD ODDITY TechPairCorr
  0.94PAY Paymentus HoldingsPairCorr
  0.83PGY Pagaya TechnologiesPairCorr

Moving against Palantir Stock

  0.81VERI VeritonePairCorr
  0.43DOCN DigitalOcean HoldingsPairCorr
  0.7FMTO Femto Technologies Symbol ChangePairCorr
  0.74RXT Rackspace Technology Tech BoostPairCorr
  0.55RPD Rapid7 IncPairCorr
  0.36WEX Wex IncPairCorr
  0.31LIDRW AEye IncPairCorr

Related Correlations Analysis

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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   
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ORCLNET
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High negative correlations   
ORCLSPLK
MSFTSPLK
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ORCLSQ
MSFTSQ

Risk-Adjusted Indicators

There is a big difference between Palantir Stock performing well and Palantir Technologies 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 Palantir Technologies' 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.

Palantir Technologies Corporate Executives

Elected by the shareholders, the Palantir Technologies' board of directors comprises two types of representatives: Palantir Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Palantir. The board's role is to monitor Palantir Technologies' management team and ensure that shareholders' interests are well served. Palantir Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Palantir Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.
David JDCFO TreasurerProfile
David GlazerChief Financial Officer, TreasurerProfile