Methods, systems, and computer-readable media for filtering redundant fault events from an event stream generated by devices on a network based on a statistical correlation between fault events are provided. Event history data is collected from the fault events generated by devices on the network over a period of time. Statistical correlations are computed between each distinct pair of fault events in the event history data. Based on the statistical correlations, a list of redundant fault events and associated significant events is identified. The list of redundant events and associated significant events is utilized to filter the redundant fault events from the event stream generated by the devices on the network.