NTAP vs QCOM: Correlation
NetApp (NTAP) and Qualcomm (QCOM) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTAP and QCOM?
Across a 3-year window, the weekly returns of NTAP and QCOM correlate at 0.46, moderate. The relationship has been stable: the 1-year correlation (0.43) sits close to the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 729.7 %².
Within NTAP's tracked universe of 32 assets, QCOM comes in at #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NTAP ahead by 67.7 points (+73.0% versus +5.3%). The rolling one-year correlation moved between 0.34 and 0.60 over the past three years, a moderate range.
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 QCOM: side by side
| NTAP (NetApp) | QCOM (Qualcomm) | |
|---|---|---|
| 1-year return | +73.0% | +5.3% |
| 5-year return | +141.7% | +25.8% |
| Volatility (ann.) | 37.6% | 42.4% |
| Beta vs S&P 500 | 1.38 | 1.77 |
| Max drawdown (3Y) | -42.6% | -44.2% |
| Market cap | $37.4B | $176.0B |
| P/E (trailing) | 30.5 | 18.9 |
| Dividend yield | 1.07% | 2.19% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | NTAP | QCOM |
|---|---|---|
| 2022 | -32.9% | -38.6% |
| 2023 | +51.1% | +35.1% |
| 2024 | +34.2% | +8.3% |
| 2025 | -5.9% | +13.8% |
| 2026 | +80.3% | -2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTAP and QCOM good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NTAP and QCOM?
The NTAP/QCOM correlation stands at 0.46 on a 3-year window (1 year: 0.43, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is QCOM a good diversifier for NTAP?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 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/ntap-vs-qcom.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ntap-vs-qcom/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NTAP correlations · QCOM correlations
