Palo Alto Correlations

PANW Stock

USD 397.78 4.89 1.24%

The current 90-days correlation between Palo Alto Networks and Adobe Systems Incorporated is 0.43 (i.e., Very weak diversification). The correlation of Palo Alto 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.

Palo Alto Correlation With Market

Very weak diversification

The correlation between Palo Alto Networks and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Palo Alto Networks and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Palo Alto Networks. 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.

Moving together with Palo Stock

0.83	S	SentinelOne	Pair Corr
0.79	NN	Nextnav Acquisition Corp Tech Boost	Pair Corr
0.8	ZS	Zscaler Earnings Call This Week	Pair Corr
0.71	EVCM	EverCommerce	Pair Corr
0.65	CETXP	Cemtrex Pref	Pair Corr
0.63	FFIV	F5 Networks	Pair Corr
0.78	FIVN	Five9 Inc	Pair Corr
0.73	FLYW	Flywire Corp	Pair Corr
0.76	FOUR	Shift4 Payments Buyout Trend	Pair Corr
0.81	DBX	Dropbox	Pair Corr
0.63	DLO	Dlocal	Pair Corr
0.76	GEN	Gen Digital	Pair Corr
0.86	FTNT	Fortinet	Pair Corr
0.86	NET	Cloudflare Buyout Trend	Pair Corr
0.7	ODD	ODDITY Tech	Pair Corr
0.82	PAY	Paymentus Holdings Tech Boost	Pair Corr

Moving against Palo Stock

0.8	VHAI	VHAI	Pair Corr
0.57	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.55	VRAR	Glimpse Group	Pair Corr
0.51	MQ	Marqeta	Pair Corr
0.79	TCX	Tucows Inc	Pair Corr
0.79	VHC	VirnetX Holding Corp	Pair Corr
0.34	WEX	Wex Inc	Pair Corr

Related Correlations Analysis

	ZS	NET	OKTA	ADBE	PATH	NTNX	CRWD	MSFT	ORCL	SQ
ZS		0.71	0.46	-0.17	0.5	0.38	0.68	-0.06	0.29	0.66	ZS
NET	0.71		-0.11	-0.61	0.6	0.73	0.92	0.09	0.76	0.83	NET
OKTA	0.46	-0.11		0.48	0.03	-0.52	-0.21	-0.1	-0.54	-0.18	OKTA
ADBE	-0.17	-0.61	0.48		-0.18	-0.41	-0.64	-0.17	-0.78	-0.49	ADBE
PATH	0.5	0.6	0.03	-0.18		0.6	0.59	0.1	0.42	0.53	PATH
NTNX	0.38	0.73	-0.52	-0.41	0.6		0.81	0.0	0.77	0.78	NTNX
CRWD	0.68	0.92	-0.21	-0.64	0.59	0.81		0.1	0.85	0.92	CRWD
MSFT	-0.06	0.09	-0.1	-0.17	0.1	0.0	0.1		0.31	0.05	MSFT
ORCL	0.29	0.76	-0.54	-0.78	0.42	0.77	0.85	0.31		0.76	ORCL
SQ	0.66	0.83	-0.18	-0.49	0.53	0.78	0.92	0.05	0.76		SQ
	ZS	NET	OKTA	ADBE	PATH	NTNX	CRWD	MSFT	ORCL	SQ

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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

CRWD	+ 0.92	NET
SQ	+ 0.92	CRWD
ORCL	+ 0.85	CRWD
SQ	+ 0.83	NET
CRWD	+ 0.81	NTNX
SQ	+ 0.78	NTNX

High negative correlations

ORCL	- 0.78	ADBE
CRWD	- 0.64	ADBE
ADBE	- 0.61	NET
ORCL	- 0.54	OKTA
NTNX	- 0.52	OKTA
SQ	- 0.49	ADBE

Risk-Adjusted Indicators

There is a big difference between Palo Stock performing well and Palo Alto 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 Palo Alto'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
ZS	1.90	(0.04)	0.00	0.05	3.74	(1.87)	3.73	(3.37)	20.36
NET	1.92	0.12	0.08	0.16	1.88	(2.17)	5.04	(3.44)	13.45
OKTA	1.45	(0.47)	0.00	(0.47)	0.00	0.00	2.24	(3.42)	19.60
ADBE	1.31	(0.24)	0.00	(0.22)	0.00	0.00	2.87	(2.89)	10.09
PATH	1.83	(0.06)	0.01	0.06	2.57	(1.80)	4.08	(3.82)	12.04
NTNX	1.83	0.31	0.19	0.29	1.48	(2.24)	3.95	(2.81)	25.02
CRWD	1.97	0.29	0.17	0.26	1.80	(2.23)	3.84	(3.03)	11.54
MSFT	0.89	(0.10)	0.00	(0.05)	0.00	0.00	2.08	(2.03)	8.19
ORCL	1.29	0.39	0.31	0.42	0.85	(1.53)	2.83	(1.75)	15.28
SQ	1.93	0.37	0.20	0.31	1.63	(2.07)	4.62	(2.94)	14.65

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