Palo Alto Networks, Inc. Common Stock (PANW) — Stock Correlations & Overview
Over the past year, PANW has moved most closely with PALU, PANG, UCYB. Explore the stocks most correlated and inversely correlated with PANW below, along with its price, financials, and company profile.
Stocks correlated with PANW
Correlation of daily returns. Higher positive values move with PANW; negative values move opposite it. Informational only, not investment advice.
Most correlated with PANW
| Symbol | Company | Correlation |
|---|---|---|
| PALU | Direxion Shares ETF Trust Direxion Daily PANW Bull 2X ETF | 1.00 |
| PANG | Leverage Shares 2X Long PANW Daily ETF | 0.99 |
| UCYB | ProShares Ultra Nasdaq Cybersecurity ETF | 0.83 |
| CIBR | First Trust Exchange-Traded Fund II First Trust NASDAQ Cybersecurity ETF | 0.83 |
| BUG | Global X Cybersecurity ETF | 0.82 |
Most inversely correlated with PANW
| Symbol | Company | Correlation |
|---|---|---|
| PALD | Direxion Shares ETF Trust Direxion Daily PANW Bear 1X ETF | -1.00 |
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.53 |
| FNGD | MicroSectors FANG+ Index -3X Inverse Leveraged ETNs due January 8, 2038COMMERCIAL BANKS, NEC | -0.46 |
| AIBD | Direxion Daily AI and Big Data Bear 2X ETF | -0.45 |
| TECS | Direxion Daily Technology Bear 3x ETF | -0.44 |
Frequently asked questions about PANW correlations
- Which stocks are most correlated with PANW?
- Based on one year of daily returns, the stocks most correlated with Palo Alto Networks, Inc. Common Stock (PANW) are PALU (1.00), PANG (0.99) and UCYB (0.83). 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 PANW?
- Over the past year, the stocks most inversely correlated with Palo Alto Networks, Inc. Common Stock (PANW) are PALD (-1.00), WEBS (-0.53) and FNGD (-0.46). 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 PANW correlations calculated?
- We compute the correlation of daily returns between PANW 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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