NTAP vs OKTA: Correlation
NetApp (NTAP) and Okta, Inc. (OKTA) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTAP and OKTA?
On 3 years of weekly data the NTAP/OKTA correlation comes out at 0.52, moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. The 5-year figure is 0.41, and annualized covariance runs at 1070.3 %².
Among the 32 assets we track against NTAP, OKTA ranks #16 by 3-year correlation. On 12-month performance OKTA holds a 12.9-point edge, +73.0% against +85.9%.
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.
NTAP vs OKTA: side by side
| NTAP (NetApp) | OKTA (Okta, Inc.) | |
|---|---|---|
| 1-year return | +73.0% | +85.9% |
| 5-year return | +141.7% | -34.7% |
| Volatility (ann.) | 37.6% | 54.5% |
| Beta vs S&P 500 | 1.38 | 1.24 |
| Max drawdown (3Y) | -42.6% | -50.6% |
| Market cap | $37.4B | $30.2B |
| P/E (trailing) | 30.5 | 97.1 |
| Dividend yield | 1.07% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | NTAP | OKTA |
|---|---|---|
| 2022 | -32.9% | -69.5% |
| 2023 | +51.1% | +32.5% |
| 2024 | +34.2% | -13.0% |
| 2025 | -5.9% | +9.7% |
| 2026 | +80.3% | +100.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTAP and OKTA good diversifiers for each other?
Only partially. A correlation of 0.52 means NTAP and OKTA 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 NTAP and OKTA?
As of 2026-08-27, the correlation of weekly returns between NTAP and OKTA is 0.52 over 3 years, 0.56 over 1 year and 0.41 over 5 years.
Is OKTA a good diversifier for NTAP?
Only partially. A correlation of 0.52 means NTAP and OKTA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: NTAP correlations · OKTA correlations
