FOXX vs NTAP: Correlation
How closely do Foxx Development Holdings Inc. (FOXX) and NetApp (NTAP) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOXX and NTAP?
Over the past 3 years, FOXX and NTAP moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -655.5 %².
Among the 25 assets we track against FOXX, NTAP ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NTAP outperformed by 127.3 percentage points (-54.3% for FOXX against +73.0% for NTAP). One caveat on sizing: FOXX is 2.9 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.
FOXX vs NTAP: side by side
| FOXX (Foxx Development Holdings Inc.) | NTAP (NetApp) | |
|---|---|---|
| 1-year return | -54.3% | +73.0% |
| 5-year return | n/a | +141.7% |
| Volatility (ann.) | 108.9% | 37.6% |
| Beta vs S&P 500 | -0.69 | 1.38 |
| Max drawdown (3Y) | -87.3% | -42.6% |
| Market cap | – | $37.4B |
| P/E (trailing) | – | 30.5 |
| Dividend yield | 0.00% | 1.07% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | FOXX | NTAP |
|---|---|---|
| 2022 | – | -32.9% |
| 2023 | +8.2% | +51.1% |
| 2024 | -48.4% | +34.2% |
| 2025 | -18.7% | -5.9% |
| 2026 | -40.9% | +80.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOXX and NTAP good diversifiers for each other?
Yes. With a correlation of -0.16, FOXX and NTAP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FOXX and NTAP?
Using weekly returns as of 2026-08-27: -0.16 over 3 years, with -0.25 over the last year and -0.14 over 5 years.
Is NTAP a good diversifier for FOXX?
Yes. With a correlation of -0.16, FOXX and NTAP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
A reading of -0.16 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/foxx-vs-ntap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/foxx-vs-ntap/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FOXX correlations · NTAP correlations
