NetApp, Inc (NTAP) — Stock Correlations & Overview
Over the past year, NTAP has moved most closely with DELL, DLLL, HPE. Explore the stocks most correlated and inversely correlated with NTAP below, along with its price, financials, and company profile.
Stocks correlated with NTAP
Correlation of daily returns. Higher positive values move with NTAP; negative values move opposite it. Informational only, not investment advice.
Most correlated with NTAP
| Symbol | Company | Correlation |
|---|---|---|
| DELL | Dell Technologies Inc.ELECTRONIC COMPUTERS | 0.62 |
| DLLL | GraniteShares 2x Long DELL Daily ETF | 0.61 |
| HPE | Hewlett Packard Enterprise CompanyCOMPUTER & OFFICE EQUIPMENT | 0.61 |
| HPEpC | Hewlett Packard Enterprise Company 7.625% Series C Mandatory Convertible Preferred StockCOMPUTER & OFFICE EQUIPMENT | 0.59 |
| HPQ | HP Inc.COMPUTER & OFFICE EQUIPMENT | 0.59 |
Most inversely correlated with NTAP
| Symbol | Company | Correlation |
|---|---|---|
| HIBS | Direxion Daily S&P 500 High Beta Bear 3X ETF | -0.43 |
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.42 |
| TECS | Direxion Daily Technology Bear 3x ETF | -0.42 |
| REW | Proshares UltraShort Technology | -0.42 |
| AIBD | Direxion Daily AI and Big Data Bear 2X ETF | -0.40 |
Frequently asked questions about NTAP correlations
- Which stocks are most correlated with NTAP?
- Based on one year of daily returns, the stocks most correlated with NetApp, Inc (NTAP) are DELL (0.62), DLLL (0.61) and HPE (0.61). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with NTAP?
- Over the past year, the stocks most inversely correlated with NetApp, Inc (NTAP) are HIBS (-0.43), WEBS (-0.42) and TECS (-0.42). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these NTAP correlations calculated?
- We compute the correlation of daily returns between NTAP and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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