Seagate Technology Correlations

STX Stock

USD 407.96 1.71 0.42%

The current 90-days correlation between Seagate Technology PLC and Western Digital is 0.92 (i.e., Almost no diversification). The correlation of Seagate Technology 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.

Seagate Technology Correlation With Market

Poor diversification

The correlation between Seagate Technology PLC and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Seagate Technology PLC and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Seagate Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Seagate Technology PLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Seagate Stock

0.66	OSS	One Stop Systems	Pair Corr
0.98	WDC	Western Digital	Pair Corr
0.71	AL2SI	2CRSI SA	Pair Corr
0.66	MOVE	Movano Inc	Pair Corr
0.75	MUB	Mühlbauer Holding	Pair Corr
0.76	NNDM	Nano Dimension	Pair Corr

Moving against Seagate Stock

0.86	HPQ	HP Inc Aggressive Push	Pair Corr
0.83	ALDRV	Drone Volt SA	Pair Corr
0.83	LOGI	Logitech International	Pair Corr
0.82	XRX	Xerox Corp	Pair Corr
0.8	FWDI	Forward Industries Symbol Change	Pair Corr
0.75	IONQ	IONQ Inc Aggressive Push	Pair Corr
0.66	ALTHO	Metavisio	Pair Corr
0.62	MLOCT	Octopus Robots SA	Pair Corr
0.62	5PD	Prodways Group SA	Pair Corr
0.55	LHL1	Lenovo Group Limited	Pair Corr
0.4	KODK	Eastman Kodak	Pair Corr
0.36	AAPL	Apple Inc CDR	Pair Corr
0.85	LOGN	Logitech International	Pair Corr
0.85	TBCH	Turtle Beach	Pair Corr
0.82	TACT	TransAct Technologies	Pair Corr
0.72	NTAP	NetApp Inc Sell-off Trend	Pair Corr
0.72	QMCO	Quantum	Pair Corr
0.7	BOXL	Boxlight Corp Class	Pair Corr
0.56	PMTS	CPI Card Group	Pair Corr
0.33	AAPL	Apple Inc	Pair Corr

Related Correlations Analysis

	WDC	NXPI	MSI	MPWR	SMCI	DDOG	FTNT	EA	ADSK	INFY
WDC		0.59	0.88	0.97	-0.17	-0.82	0.0	-0.43	-0.93	-0.61	WDC
NXPI	0.59		0.45	0.53	-0.27	-0.6	0.05	0.2	-0.45	-0.16	NXPI
MSI	0.88	0.45		0.88	-0.11	-0.77	-0.06	-0.57	-0.93	-0.84	MSI
MPWR	0.97	0.53	0.88		0.0	-0.77	0.1	-0.49	-0.91	-0.67	MPWR
SMCI	-0.17	-0.27	-0.11	0.0		0.35	0.41	-0.24	0.18	-0.12	SMCI
DDOG	-0.82	-0.6	-0.77	-0.77	0.35		0.35	0.31	0.85	0.47	DDOG
FTNT	0.0	0.05	-0.06	0.1	0.41	0.35		-0.09	0.13	-0.08	FTNT
EA	-0.43	0.2	-0.57	-0.49	-0.24	0.31	-0.09		0.59	0.71	EA
ADSK	-0.93	-0.45	-0.93	-0.91	0.18	0.85	0.13	0.59		0.75	ADSK
INFY	-0.61	-0.16	-0.84	-0.67	-0.12	0.47	-0.08	0.71	0.75		INFY
	WDC	NXPI	MSI	MPWR	SMCI	DDOG	FTNT	EA	ADSK	INFY

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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

MPWR	+ 0.97	WDC
MSI	+ 0.88	WDC
MPWR	+ 0.88	MSI
ADSK	+ 0.85	DDOG
INFY	+ 0.75	ADSK
INFY	+ 0.71	EA

High negative correlations

ADSK	- 0.93	MSI
ADSK	- 0.93	WDC
ADSK	- 0.91	MPWR
INFY	- 0.84	MSI
DDOG	- 0.82	WDC
DDOG	- 0.77	MPWR

Risk-Adjusted Indicators

There is a big difference between Seagate Stock performing well and Seagate Technology 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 Seagate Technology'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
WDC	3.79	0.90	0.24	0.48	3.49	(4.13)	8.61	(7.18)	26.89
NXPI	1.83	0.21	0.14	0.26	1.61	(2.13)	5.55	(3.03)	14.37
MSI	0.86	0.40	0.35	(2.41)	0.15	(1.06)	1.83	(1.01)	9.02
MPWR	1.86	0.33	0.14	0.32	2.11	(1.83)	4.79	(4.21)	11.71
SMCI	2.87	(0.17)	0.00	0.04	3.03	(3.50)	8.25	(5.05)	22.40
DDOG	2.39	(0.60)	0.00	(0.27)	0.00	0.00	5.56	(7.61)	25.01
FTNT	1.59	(0.08)	(0.04)	0.03	2.14	(1.59)	2.92	(3.90)	10.68
EA	0.24	(0.02)	(0.21)	(0.06)	0.54	(0.21)	0.55	(0.54)	2.57
ADSK	1.57	(0.44)	0.00	(0.24)	0.00	0.00	2.36	(4.51)	10.57
INFY	2.09	(0.33)	0.00	(0.17)	0.00	0.00	4.32	(5.12)	20.28

Seagate Technology Corporate Management

James JD	Chief VP	Profile
Graldine HottierFayon	VP Controller	Profile
Patricia Frost	Senior Officer	Profile
Mike Troemel	Senior Engineering	Profile
Jeffrey Nygaard	Ex Devel	Profile
John Grieci	Senior Advocacy	Profile

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