Palantir Technologies Correlations

PTX Stock   131.50  0.70  0.53%   
The current 90-days correlation between Palantir Technologies and Dropbox is 0.14 (i.e., Average diversification). The correlation of Palantir Technologies 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.

Palantir Technologies Correlation With Market

Good diversification

The correlation between Palantir Technologies and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Palantir Technologies and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Palantir Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Palantir Technologies when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Palantir Technologies - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Palantir Technologies to buy it.

Moving together with Palantir Stock

  0.91AMZ Amazon IncPairCorr
  0.91AMZ Amazon IncPairCorr
  0.85HHP2 Hon Hai PrecisionPairCorr
  0.698HJ LANDSEA HOMES PPairCorr
  0.72UE1 Universal ElectronicsPairCorr
  0.84HC1 HEICOPairCorr
  0.67BW8 Spirent CommunicationsPairCorr
  0.85USR SHANGHAI ELECT HPairCorr
  0.636L50 FUTURE GAMING GRPPairCorr
  0.84R6N Retail Estates NVPairCorr
  0.8106MA Materialise NV Earnings Call This WeekPairCorr
  0.85SWN SOUTHWEST AIRLINES Earnings Call This WeekPairCorr
  0.921XV Axway Software SA Earnings Call This WeekPairCorr
  0.77SSUN Samsung ElectronicsPairCorr
  0.64NTO NintendoPairCorr
  0.739960 RENERGEN LTDPairCorr
  0.67GTY Gateway Real EstatePairCorr

Moving against Palantir Stock

  0.4NJPA Net 1 UepsPairCorr
  0.32EXL Exasol AGPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
EXL1Q5
81M1Q5
PTXMSF
RZCPTX
EXL81M
RZC81M
  
High negative correlations   
EXLMSF
RZCNJPA
NJPAPTX
EXLPTX
NJPA1Q5
81MPTX

Risk-Adjusted Indicators

There is a big difference between Palantir Stock performing well and Palantir Technologies 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 Palantir Technologies' 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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Palantir Technologies without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Sync Your Broker Now

   

Sync Your Broker

Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors.
All  Next Launch Module

Palantir Technologies Corporate Management

Elected by the shareholders, the Palantir Technologies' board of directors comprises two types of representatives: Palantir Technologies inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Palantir. The board's role is to monitor Palantir Technologies' management team and ensure that shareholders' interests are well served. Palantir Technologies' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Palantir Technologies' outside directors are responsible for providing unbiased perspectives on the board's policies.