Pure Storage Correlations

PSTG Stock

USD 51.56 1.78 3.58%

The current 90-days correlation between Pure Storage and Seagate Technology PLC is 0.3 (i.e., Weak diversification). The correlation of Pure Storage 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.

Pure Storage Correlation With Market

Weak diversification

The correlation between Pure Storage and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pure Storage 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 Pure Storage. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more detail on how to invest in Pure Stock please use our How to Invest in Pure Storage guide.

Moving together with Pure Stock

0.8

OKTA

Okta Inc

Pair Corr

Moving against Pure Stock

0.32

Verizon Communications Aggressive Push

Pair Corr

Related Correlations Analysis

	STX	HPQ	DELL	WDC	SMCI	IONQ	DM	NTAP	ANET	SSYS
STX		0.31	0.07	0.56	0.4	-0.27	0.58	0.43	0.54	-0.11	STX
HPQ	0.31		0.83	0.55	-0.35	0.65	0.33	0.26	0.78	0.48	HPQ
DELL	0.07	0.83		0.46	-0.7	0.83	0.24	-0.01	0.77	0.63	DELL
WDC	0.56	0.55	0.46		-0.05	0.19	0.59	0.11	0.71	0.09	WDC
SMCI	0.4	-0.35	-0.7	-0.05		-0.75	0.07	0.54	-0.28	-0.48	SMCI
IONQ	-0.27	0.65	0.83	0.19	-0.75		-0.06	-0.15	0.46	0.71	IONQ
DM	0.58	0.33	0.24	0.59	0.07	-0.06		-0.09	0.64	-0.28	DM
NTAP	0.43	0.26	-0.01	0.11	0.54	-0.15	-0.09		0.17	0.23	NTAP
ANET	0.54	0.78	0.77	0.71	-0.28	0.46	0.64	0.17		0.34	ANET
SSYS	-0.11	0.48	0.63	0.09	-0.48	0.71	-0.28	0.23	0.34		SSYS
	STX	HPQ	DELL	WDC	SMCI	IONQ	DM	NTAP	ANET	SSYS

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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

DELL	+ 0.83	HPQ
IONQ	+ 0.83	DELL
ANET	+ 0.78	HPQ
ANET	+ 0.77	DELL
ANET	+ 0.71	WDC
SSYS	+ 0.71	IONQ

High negative correlations

IONQ	- 0.75	SMCI
SMCI	- 0.7	DELL
SSYS	- 0.48	SMCI
SMCI	- 0.35	HPQ
SSYS	- 0.28	DM
ANET	- 0.28	SMCI

Risk-Adjusted Indicators

There is a big difference between Pure Stock performing well and Pure Storage 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 Pure Storage'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
STX	1.36	(0.15)	0.00	(0.07)	0.00	0.00	2.78	(2.81)	12.18
HPQ	1.26	0.01	0.00	0.10	1.61	(1.23)	2.08	(2.63)	6.13
DELL	1.99	0.17	0.10	0.19	2.13	(2.24)	4.33	(4.46)	10.85
WDC	1.59	(0.12)	(0.04)	0.00	1.91	(1.70)	4.06	(2.94)	11.83
SMCI	5.21	(0.85)	0.00	0.83	0.00	0.00	12.25	(12.18)	48.46
IONQ	5.59	2.17	0.41	0.95	4.15	(6.48)	16.30	(6.53)	47.83
DM	1.74	0.08	0.00	1.30	2.28	(1.95)	3.69	(3.95)	21.58
NTAP	1.28	(0.16)	0.00	(0.09)	0.00	0.00	2.16	(2.57)	11.17
ANET	1.66	(0.01)	0.02	0.08	2.60	(1.63)	3.62	(4.30)	12.04
SSYS	3.01	0.18	0.08	0.18	3.00	(3.66)	9.26	(4.95)	25.45

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