Nutanix Correlations

NTNX Stock

USD 73.18 2.24 3.16%

The current 90-days correlation between Nutanix and Uipath Inc is 0.38 (i.e., Weak diversification). The correlation of Nutanix 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.

Nutanix Correlation With Market

Weak diversification

The correlation between Nutanix and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nutanix and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nutanix. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Nutanix Stock please use our How to Invest in Nutanix guide.

Moving together with Nutanix Stock

0.68	S	SentinelOne	Pair Corr
0.82	NN	Nextnav Acquisition Corp	Pair Corr
0.75	EVCM	EverCommerce	Pair Corr
0.67	CETXP	Cemtrex Pref	Pair Corr
0.65	FIVN	Five9 Inc	Pair Corr
0.74	FLYW	Flywire Corp Sell-off Trend	Pair Corr
0.76	BOX	Box Inc	Pair Corr
0.8	DBX	Dropbox	Pair Corr
0.85	GEN	Gen Digital	Pair Corr
0.86	FTNT	Fortinet	Pair Corr
0.71	IOT	Samsara	Pair Corr
0.7	MDB	MongoDB Tech Boost	Pair Corr
0.77	NET	Cloudflare Sell-off Trend	Pair Corr
0.66	ODD	ODDITY Tech	Pair Corr
0.73	PAY	Paymentus Holdings	Pair Corr
0.63	RPD	Rapid7 Inc	Pair Corr

Moving against Nutanix Stock

0.85	VHAI	VHAI	Pair Corr
0.73	VRAR	Glimpse Group	Pair Corr
0.64	MQ	Marqeta	Pair Corr
0.5	VRNT	Verint Systems	Pair Corr
0.45	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.39	VRNS	Varonis Systems Potential Growth	Pair Corr
0.82	TCX	Tucows Inc	Pair Corr
0.75	VHC	VirnetX Holding Corp	Pair Corr
0.51	OLB	OLB Group	Pair Corr
0.31	WEX	Wex Inc	Pair Corr

Related Correlations Analysis

	PANW	PATH	ZS	CRWD	SPLK	NEWR	OKTA	EGIO	NET	PLTR
PANW		0.65	0.82	0.86	0.67	-0.44	0.0	-0.32	0.86	0.85	PANW
PATH	0.65		0.6	0.66	0.37	-0.02	0.12	-0.18	0.69	0.56	PATH
ZS	0.82	0.6		0.75	0.54	-0.32	0.42	-0.08	0.76	0.64	ZS
CRWD	0.86	0.66	0.75		0.83	-0.25	-0.14	-0.6	0.93	0.94	CRWD
SPLK	0.67	0.37	0.54	0.83		-0.37	-0.24	-0.73	0.75	0.76	SPLK
NEWR	-0.44	-0.02	-0.32	-0.25	-0.37		0.05	0.07	-0.33	-0.26	NEWR
OKTA	0.0	0.12	0.42	-0.14	-0.24	0.05		0.58	-0.07	-0.23	OKTA
EGIO	-0.32	-0.18	-0.08	-0.6	-0.73	0.07	0.58		-0.54	-0.59	EGIO
NET	0.86	0.69	0.76	0.93	0.75	-0.33	-0.07	-0.54		0.83	NET
PLTR	0.85	0.56	0.64	0.94	0.76	-0.26	-0.23	-0.59	0.83		PLTR
	PANW	PATH	ZS	CRWD	SPLK	NEWR	OKTA	EGIO	NET	PLTR

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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

PLTR	+ 0.94	CRWD
NET	+ 0.93	CRWD
CRWD	+ 0.86	PANW
NET	+ 0.86	PANW
PLTR	+ 0.85	PANW
SPLK	+ 0.83	CRWD

High negative correlations

EGIO	- 0.73	SPLK
EGIO	- 0.6	CRWD
PLTR	- 0.59	EGIO
NET	- 0.54	EGIO
NEWR	- 0.44	PANW
NEWR	- 0.37	SPLK

Risk-Adjusted Indicators

There is a big difference between Nutanix Stock performing well and Nutanix 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 Nutanix'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
PANW	1.33	0.00	0.01	0.12	1.78	(1.31)	2.22	(2.51)	9.85
PATH	1.93	0.01	0.06	0.13	2.48	(2.00)	4.52	(3.82)	12.04
ZS	1.92	(0.02)	0.00	0.11	3.78	(1.91)	3.73	(3.37)	20.36
CRWD	1.99	0.32	0.19	0.31	1.74	(2.27)	4.04	(3.03)	11.54
SPLK	1.63	0.19	0.03	(2.71)	1.70	(1.91)	4.36	(3.33)	10.70
NEWR	1.58	(0.05)	0.00	(0.10)	0.00	0.00	2.68	(3.35)	18.35
OKTA	1.50	(0.44)	0.00	(0.36)	0.00	0.00	2.39	(3.42)	19.60
EGIO	4,041	2,107	41.01	22.30	52.53	(7,045)	300.00	(92.65)	100,000
NET	2.03	0.20	0.14	0.24	1.75	(2.41)	5.47	(3.44)	13.45
PLTR	2.61	0.86	0.44	0.49	1.51	(3.18)	8.61	(2.93)	30.33

Nutanix Corporate Management

Sunil Mahale	VP business	Profile
Anja Hamilton	Chief Officer	Profile
Matthew Young	Senior Japan	Profile
Rukmini Sivaraman	Chief of Staff	Profile
Dave Gwyn	Senior Success	Profile
Ajeet Singh	CoFounder Advisor	Profile

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