NTAP vs P: Correlation
NetApp (NTAP) and Everpure, Inc. (P) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTAP and P?
Across a 3-year window, the weekly returns of NTAP and P correlate at 0.56, moderate. The link has loosened recently: the 1-year correlation (0.36) runs below the 3-year figure (0.56). Stretching to 5 years gives 0.55, with an annualized covariance of 1226.8 %².
By 3-year correlation, P places #5 of the 32 assets tracked against NTAP. Over the last 12 months NTAP came out ahead by 9.9 percentage points (+73.0% against +63.1%). Note the risk asymmetry: P runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 P: side by side
| NTAP (NetApp) | P (Everpure, Inc.) | |
|---|---|---|
| 1-year return | +73.0% | +63.1% |
| 5-year return | +141.7% | +288.3% |
| Volatility (ann.) | 37.6% | 58.7% |
| Beta vs S&P 500 | 1.38 | 2.05 |
| Max drawdown (3Y) | -42.6% | -48.6% |
| Market cap | $37.4B | – |
| P/E (trailing) | 30.5 | 135.9 |
| Dividend yield | 1.07% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | NTAP | P |
|---|---|---|
| 2022 | -32.9% | -17.8% |
| 2023 | +51.1% | +33.3% |
| 2024 | +34.2% | +72.3% |
| 2025 | -5.9% | +9.1% |
| 2026 | +80.3% | +48.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTAP and P good diversifiers for each other?
Only partially. A correlation of 0.56 means NTAP and P 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 P?
As of 2026-08-27, the correlation of weekly returns between NTAP and P is 0.56 over 3 years, 0.36 over 1 year and 0.55 over 5 years.
Is P a good diversifier for NTAP?
Only partially. A correlation of 0.56 means NTAP and P share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ntap-vs-p.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ntap-vs-p/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NTAP correlations · P correlations
