Pure Storage Correlations

PSTG Stock

USD 66.99 0.28 0.42%

The current 90-days correlation between Pure Storage and Super Micro Computer is 0.23 (i.e., Modest 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

Modest diversification

The correlation between Pure Storage and DJI is 0.2 (i.e., Modest 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 population.

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

0.74	XAR	Xaar plc	Pair Corr
0.62	000021	Shenzhen Kaifa Technology	Pair Corr
0.74	603019	Dawning Information	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.79	000066	China Greatwall Computer	Pair Corr
0.87	600355	Routon Electronic	Pair Corr
0.61	300787	Ce Link	Pair Corr
0.62	002017	Eastcompeace Technology	Pair Corr
0.7	002376	Shandong New Beiyang	Pair Corr

Moving against Pure Stock

0.74	KODK	Eastman Kodak	Pair Corr
0.63	OSS	One Stop Systems	Pair Corr
0.54	WDC	Western Digital	Pair Corr
0.5	STX	Seagate Technology PLC	Pair Corr
0.4	AAPL	Apple Inc CDR	Pair Corr
0.32	MOVE	Movano Inc	Pair Corr
0.53	SCKT	Socket Mobile	Pair Corr
0.5	688636	Chengdu Zhimingda	Pair Corr
0.43	AAPL	Apple Inc	Pair Corr
0.32	SNDK	Sandisk Corp Symbol Change	Pair Corr

Related Correlations Analysis

	SMCI	ALAB	FIS	CRDO	HPE	KEYS	HPQ	NTAP	ERIC	SNDK
SMCI		0.64	0.14	-0.13	0.5	-0.76	0.83	0.68	-0.4	-0.73	SMCI
ALAB	0.64		0.07	0.06	0.68	-0.32	0.55	0.7	-0.74	-0.69	ALAB
FIS	0.14	0.07		-0.28	0.36	0.1	0.15	0.32	-0.15	-0.18	FIS
CRDO	-0.13	0.06	-0.28		-0.02	0.44	0.07	0.08	0.32	0.31	CRDO
HPE	0.5	0.68	0.36	-0.02		0.0	0.57	0.72	-0.33	-0.43	HPE
KEYS	-0.76	-0.32	0.1	0.44	0.0		-0.5	-0.2	0.36	0.57	KEYS
HPQ	0.83	0.55	0.15	0.07	0.57	-0.5		0.85	-0.28	-0.69	HPQ
NTAP	0.68	0.7	0.32	0.08	0.72	-0.2	0.85		-0.49	-0.73	NTAP
ERIC	-0.4	-0.74	-0.15	0.32	-0.33	0.36	-0.28	-0.49		0.78	ERIC
SNDK	-0.73	-0.69	-0.18	0.31	-0.43	0.57	-0.69	-0.73	0.78		SNDK
	SMCI	ALAB	FIS	CRDO	HPE	KEYS	HPQ	NTAP	ERIC	SNDK

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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

NTAP	+ 0.85	HPQ
HPQ	+ 0.83	SMCI
SNDK	+ 0.78	ERIC
NTAP	+ 0.72	HPE
NTAP	+ 0.7	ALAB
NTAP	+ 0.68	SMCI

High negative correlations

KEYS	- 0.76	SMCI
ERIC	- 0.74	ALAB
SNDK	- 0.73	NTAP
SNDK	- 0.73	SMCI
SNDK	- 0.69	HPQ
SNDK	- 0.69	ALAB

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
SMCI	3.03	(0.68)	0.00	(0.30)	0.00	0.00	5.92	(7.44)	20.61
ALAB	4.33	(0.46)	0.00	(0.19)	0.00	0.00	9.00	(10.79)	29.03
FIS	1.03	0.01	0.00	0.07	1.59	(1.04)	2.19	(1.98)	9.11
CRDO	4.44	(0.19)	0.00	0.00	0.00	0.00	10.04	(8.15)	23.45
HPE	1.75	(0.10)	(0.02)	0.00	3.35	(1.45)	2.85	(4.17)	14.81
KEYS	1.51	0.11	0.08	0.11	1.96	(1.62)	2.87	(3.09)	13.11
HPQ	1.73	(0.38)	0.00	(0.16)	0.00	0.00	3.11	(4.01)	13.82
NTAP	1.38	(0.26)	0.00	(0.14)	0.00	0.00	3.17	(2.85)	8.54
ERIC	1.33	0.28	0.18	0.38	1.21	(1.64)	2.90	(1.89)	25.04
SNDK	5.86	1.31	0.22	0.33	6.12	(6.92)	15.14	(9.85)	37.19

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