NetApp Correlations

Stocks . Germany . 
Stock . NetApp Inc
NTA Stock  EUR 110.58  1.72  1.53%   
The current 90-days correlation between NetApp Inc and INTERCONT HOTELS is 0.12 (i.e., Average diversification). The correlation of NetApp 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.

NetApp Correlation With Market

Modest diversification

The correlation between NetApp Inc and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NetApp Inc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to NetApp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NetApp when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back NetApp - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling NetApp Inc to buy it.

Moving together with NetApp Stock

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  0.7ONK ONEOK IncPairCorr
  0.65GM0N GLOBUS MEDICAL APairCorr
  0.62DGS Envela CorpPairCorr
  0.8IBM International BusinessPairCorr
  0.67HU3 Huntington BancsharesPairCorr
  0.64117 Arista Networks SplitPairCorr
  0.67SOBA ATT IncPairCorr
  0.73MNL Gruppo Mutuionline SpAPairCorr
  0.692KD Kinder MorganPairCorr
  0.71MKL Atea ASAPairCorr
  0.7474F LIFE BANC SPLITPairCorr
  0.6851KB AVITA MedicalPairCorr
  0.7G8L GREENLIGHT CAP REPairCorr

Moving against NetApp Stock

  0.62PQ9 BANK MANDIRIPairCorr
  0.55BYRA PT Bank RakyatPairCorr
  0.5PQ9 PT Bank MandiriPairCorr
  0.5BYRA BANK RAKYAT INDPairCorr
  0.5BYRA BANK RAKYAT INDPairCorr
  0.47PQ9 BANK MANDIRIPairCorr
  0.45PQ9 BANK MANDIRIPairCorr
  0.39TCID Telkom Indonesia TbkPairCorr
  0.33BYRA PT Bank RakyatPairCorr
  0.33PTI Perusahaan PerseroanPairCorr

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   
2WY
+ 0.96
PL0
2WY
+ 0.96
IC1B
IC1B
+ 0.95
PL0
GRG
+ 0.94
PL0
GRG
+ 0.92
IC1B
2WY
+ 0.92
GRG
  
High negative correlations   
GRG
- 0.89
5JQ
2WY
- 0.87
5JQ
IC1B
- 0.87
5JQ
PL0
- 0.87
5JQ
3TY
- 0.79
5JQ

Risk-Adjusted Indicators

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

Be your own money manager

Our tools can tell you how much better you can do entering a position in NetApp without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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NetApp Corporate Management

Elected by the shareholders, the NetApp's board of directors comprises two types of representatives: NetApp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of NetApp. The board's role is to monitor NetApp's management team and ensure that shareholders' interests are well served. NetApp's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, NetApp's outside directors are responsible for providing unbiased perspectives on the board's policies.
Michael BerryEx CFOProfile
Cesar RegoPresidentProfile
Matthew FawcettEx OfficerProfile
Kris NewtonVP RelationsProfile
William MillerVP OfficerProfile
George KurianCEO DirectorProfile
Elizabeth OCallahanChief VPProfile
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