Seagate Technology Correlations

STX Stock

USD 130.17 3.20 2.52%

The current 90-days correlation between Seagate Technology PLC and NetApp Inc is 0.84 (i.e., Very poor diversification). The correlation of Seagate Technology 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.

Seagate Technology Correlation With Market

Poor diversification

The correlation between Seagate Technology PLC and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Seagate Technology PLC and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Seagate Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Seagate Technology PLC. 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 Seagate Stock

0.77	KN	Knowles Cor	Pair Corr
0.64	AMPGW	AmpliTech Group	Pair Corr
0.75	ERIC	Telefonaktiebolaget	Pair Corr
0.89	EXTR	Extreme Networks	Pair Corr
0.86	CDW	CDW Corp	Pair Corr
0.85	HPE	Hewlett Packard Ente Aggressive Push	Pair Corr
0.61	NOK	Nokia Corp ADR	Pair Corr
0.98	WDC	Western Digital	Pair Corr
0.73	ZBRA	Zebra Technologies	Pair Corr
0.83	IONQ	IONQ Inc	Pair Corr
0.63	JNPR	Juniper Networks	Pair Corr
0.93	LITE	Lumentum Holdings	Pair Corr
0.95	NTAP	NetApp Inc	Pair Corr
0.92	NTGR	NETGEAR	Pair Corr
0.88	PSTG	Pure Storage	Pair Corr
0.87	QBTS	D Wave Quantum Aggressive Push	Pair Corr
0.88	ANET	Arista Networks	Pair Corr
0.68	SMCI	Super Micro Computer Aggressive Push	Pair Corr
0.76	SSYS	Stratasys	Pair Corr
0.83	BOSC	BOS Better Online	Pair Corr
0.91	CIEN	Ciena Corp	Pair Corr
0.95	CLFD	Clearfield	Pair Corr
0.76	CMTL	Comtech Telecommunicatio Earnings Call This Week	Pair Corr
0.86	CRCT	Cricut Inc	Pair Corr
0.85	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.94	DELL	Dell Technologies	Pair Corr
0.78	U	Unity Software	Pair Corr
0.88	AI	C3 Ai Inc	Pair Corr
0.91	KD	Kyndryl Holdings	Pair Corr
0.77	MU	Micron Technology Aggressive Push	Pair Corr
0.92	PI	Impinj Inc	Pair Corr
0.85	ZM	Zoom Video Communications Sell-off Trend	Pair Corr
0.85	DOMO	Domo Inc	Pair Corr
0.93	VRNS	Varonis Systems	Pair Corr

Moving against Seagate Stock

0.31

CAN

Canaan Inc

Pair Corr

Related Correlations Analysis

	NTAP	DELL	PSTG	HPQ	WDC	CRSR	NNDM	SMCI	ANET
NTAP		0.96	0.96	0.54	0.98	0.51	0.14	0.76	0.95	NTAP
DELL	0.96		0.95	0.51	0.97	0.43	0.05	0.79	0.9	DELL
PSTG	0.96	0.95		0.67	0.94	0.61	0.26	0.85	0.93	PSTG
HPQ	0.54	0.51	0.67		0.46	0.81	0.69	0.59	0.55	HPQ
WDC	0.98	0.97	0.94	0.46		0.46	0.09	0.75	0.92	WDC
CRSR	0.51	0.43	0.61	0.81	0.46		0.81	0.67	0.43	CRSR
NNDM	0.14	0.05	0.26	0.69	0.09	0.81		0.35	0.11	NNDM
SMCI	0.76	0.79	0.85	0.59	0.75	0.67	0.35		0.7	SMCI
ANET	0.95	0.9	0.93	0.55	0.92	0.43	0.11	0.7		ANET
	NTAP	DELL	PSTG	HPQ	WDC	CRSR	NNDM	SMCI	ANET

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Risk-Adjusted Indicators

There is a big difference between Seagate Stock performing well and Seagate Technology 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 Seagate Technology'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	1.77	0.22	0.08	0.14	2.37	(1.88)	3.88	(3.18)	17.52
DELL	2.63	0.33	0.07	0.17	3.98	(2.79)	5.88	(4.95)	22.65
PSTG	2.47	0.16	0.04	0.08	3.57	(2.55)	5.64	(6.22)	21.75
HPQ	2.00	(0.17)	0.00	(0.13)	0.00	0.00	2.84	(5.81)	19.24
WDC	2.40	0.43	0.08	0.23	4.25	(2.34)	5.96	(3.92)	24.21
CRSR	3.33	(0.21)	0.00	(0.09)	0.00	0.00	9.22	(8.14)	27.71
NNDM	2.09	(0.54)	0.00	(0.88)	0.00	0.00	3.87	(4.67)	19.62
SMCI	4.60	0.27	0.05	0.15	4.86	(5.50)	10.68	(8.25)	27.27
ANET	2.68	0.22	0.05	0.14	4.03	(2.48)	6.40	(6.92)	16.36

Seagate Technology Corporate Management

James JD	Chief VP	Profile
Graldine HottierFayon	VP Controller	Profile
Patricia Frost	Senior Officer	Profile
Mike Troemel	Senior Engineering	Profile
Jeffrey Nygaard	Ex Devel	Profile
John Grieci	Senior Advocacy	Profile

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