DELL vs NTAP: Correlation
How closely do Dell Technologies (DELL) and NetApp (NTAP) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DELL and NTAP?
Over the past 3 years, DELL and NTAP moved with a correlation of 0.64, which is strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.64 over 3. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 1481.6 %².
NTAP is one of the assets that tracks DELL most closely: it ranks #1 out of the 29 assets we track against DELL. Their recent paths diverged sharply: over the last 12 months DELL outperformed by 188.0 percentage points (+261.0% for DELL against +73.0% for NTAP). Across three years, the rolling one-year figure varied moderately, from 0.33 to 0.72. One caveat on sizing: DELL is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
DELL vs NTAP: side by side
| DELL (Dell Technologies) | NTAP (NetApp) | |
|---|---|---|
| 1-year return | +261.0% | +73.0% |
| 5-year return | +945.0% | +141.7% |
| Volatility (ann.) | 61.3% | 37.6% |
| Beta vs S&P 500 | 2.02 | 1.38 |
| Max drawdown (3Y) | -59.6% | -42.6% |
| Market cap | $305.1B | $37.4B |
| P/E (trailing) | 36.9 | 30.5 |
| Dividend yield | 0.48% | 1.07% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | DELL | NTAP |
|---|---|---|
| 2022 | -26.6% | -32.9% |
| 2023 | +95.9% | +51.1% |
| 2024 | +53.0% | +34.2% |
| 2025 | +11.2% | -5.9% |
| 2026 | +278.6% | +80.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DELL and NTAP good diversifiers for each other?
Only partially. A correlation of 0.64 means DELL and NTAP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DELL and NTAP?
The DELL/NTAP correlation stands at 0.64 on a 3-year window (1 year: 0.69, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is NTAP a good diversifier for DELL?
Only partially. A correlation of 0.64 means DELL and NTAP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
A reading of 0.64 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dell-vs-ntap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dell-vs-ntap/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DELL correlations · NTAP correlations
