Seagate Technology Correlations

STX Stock  USD 214.57  0.17  0.08%   
The current 90-days correlation between Seagate Technology PLC and Western Digital is 0.89 (i.e., Very poor 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

Average diversification

The correlation between Seagate Technology PLC and DJI is 0.16 (i.e., Average 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.
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 manufacturing.

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Related Correlations Analysis


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

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UIWDC
TTWOUI
MPWRWDC
EAMPWR
EAWDC
  

High negative correlations

NXPISMCI
EAXYZ
XYZWDC
XYZMPWR
NXPIRGTI
TTWOXYZ

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
WDC  2.24  0.87  0.34  1.96  1.75 
 6.46 
 14.98 
SMCI  2.64  0.03  0.02  0.10  4.10 
 6.56 
 28.53 
GRMN  1.13  0.06  0.05  0.12  1.69 
 2.34 
 9.33 
MPWR  2.13  0.45  0.25  0.38  1.67 
 5.40 
 18.10 
XYZ  1.58 (0.16)(0.03) 0.00  2.34 
 2.82 
 14.43 
UI  2.45  0.55  0.19  0.23  3.17 
 4.86 
 36.60 
RGTI  5.17  1.34  0.30  0.47  4.04 
 14.38 
 39.88 
EA  1.31  0.41  0.26  2.42  0.89 
 4.50 
 15.18 
TTWO  1.06  0.11  0.08  0.22  1.07 
 3.29 
 7.29 
NXPI  1.48 (0.19) 0.00 (0.01) 0.00 
 4.76 
 14.51 

Seagate Technology Corporate Management