Research on unperturbed stance is largely based on a one-segment inverted pendulum model. Recently, an increasing number of studies report a contribution of other major joints to postural control. Therefore, this study evaluates if the conclusions originating from the research based on a one-segment model adequately captures postural sway during unperturbed stance. High-pass filtered kinematic data (cut-off frequency 1/30 Hz) obtained during three minutes of unperturbed stance were analyzed in different ways. Variance of joint angles was analyzed. Principal component analysis (PCA) was performed on the variance of lower leg, upper leg and head-arms-trunk (HAT) angle, as well as on lower leg and COM angle (the orientation of the line from ankle joint to center of mass). It was found that the variance in knee and hip joint angles did not differ from the variance found in the ankle angle. The first PCA component indicated that, generally, the upper leg and HAT segments move in the same direction as the lower leg with a somewhat larger amplitude. The first PCA component relating ankle angle variance and COM angle variance indicated that the ankle joint angle displacement gives a good estimate of the COM angle displacement. The second PCA component on the segment angles partly explains the apparent discrepancy between these findings, as this component points to a countermovement of the HAT relative to the ankle joint angle. It is concluded that postural control during unperturbed stance should be analyzed in terms of a multiple inverted pendulum model.