Nutanix Correlations

NTNX Stock

USD 82.40 5.55 7.22%

The current 90-days correlation between Nutanix and Uipath Inc is 0.48 (i.e., Very 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

Poor diversification

The correlation between Nutanix and DJI is 0.68 (i.e., Poor 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.

Build AI portfolio with Nutanix Stock

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

0.61	DTSS	Datasea	Pair Corr
0.66	VRNS	Varonis Systems	Pair Corr
0.64	EVTC	Evertec	Pair Corr
0.71	DOX	Amdocs	Pair Corr
0.84	GEN	Gen Digital	Pair Corr
0.64	PGY	Pagaya Technologies Tech Boost	Pair Corr

Moving against Nutanix Stock

0.31

SWI

SolarWinds Corp

Pair Corr

Related Correlations Analysis

	PANW	PATH	ZS	CRWD	SPLK	NEWR	OKTA	EGIO	NET	PLTR
PANW		0.86	0.57	0.74	0.0	0.0	0.19	0.0	0.86	0.63	PANW
PATH	0.86		0.42	0.71	0.0	0.0	-0.11	0.0	0.95	0.63	PATH
ZS	0.57	0.42		0.74	0.0	0.0	0.66	0.0	0.29	0.84	ZS
CRWD	0.74	0.71	0.74		0.0	0.0	0.1	0.0	0.65	0.93	CRWD
SPLK	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SPLK
NEWR	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	NEWR
OKTA	0.19	-0.11	0.66	0.1	0.0	0.0		0.0	-0.17	0.26	OKTA
EGIO	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	EGIO
NET	0.86	0.95	0.29	0.65	0.0	0.0	-0.17	0.0		0.53	NET
PLTR	0.63	0.63	0.84	0.93	0.0	0.0	0.26	0.0	0.53		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

NET	+ 0.95	PATH
PLTR	+ 0.93	CRWD
PATH	+ 0.86	PANW
NET	+ 0.86	PANW
PLTR	+ 0.84	ZS
CRWD	+ 0.74	PANW

High negative correlations

NET	- 0.17	OKTA
OKTA	- 0.11	PATH
PLTR	- 0.0	EGIO
NET	- 0.0	EGIO
EGIO	- 0.0	OKTA
PLTR	- 0.0	NEWR

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	1.97	0.12	0.03	0.01	2.68	(1.94)	3.51	(4.56)	17.99
PATH	2.54	0.08	0.00	(0.01)	0.00	0.00	4.77	(4.61)	22.95
ZS	2.32	0.42	0.11	0.20	3.21	(2.32)	3.61	(4.21)	17.84
CRWD	3.08	0.25	0.05	0.08	3.76	(3.14)	6.38	(6.49)	20.96
SPLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NEWR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OKTA	2.62	0.54	0.17	0.36	2.70	(3.05)	7.39	(4.85)	32.58
EGIO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NET	3.04	0.06	0.00	(0.04)	0.00	0.00	5.62	(8.00)	21.78
PLTR	4.34	0.52	0.07	0.17	5.67	(4.24)	7.85	(10.53)	31.05

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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