Okta Correlations

Stocks . Germany . 
Stock . Okta Inc
0OK Stock  EUR 79.34  0.52  0.66%   
The current 90-days correlation between Okta Inc and Fair Isaac is 0.4 (i.e., Very weak diversification). The correlation of Okta is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Okta Correlation With Market

Weak diversification

The correlation between Okta Inc and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Okta Inc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Okta could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Okta when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Okta - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Okta Inc to buy it.

Moving together with Okta Stock

  0.66FRI Fair IsaacPairCorr
  0.81WGSA SSC Technologies HoldingsPairCorr
  0.86FFV F5 NetworksPairCorr
  0.710XE XeroPairCorr
  0.856GAA Grupo Aval AccionesPairCorr
  0.846GAA Grupo Aval AccionesPairCorr
  0.82MFZA Mitsubishi UFJ FinancialPairCorr
  0.86NY70 MOLSON RS BEVERAGEPairCorr
  0.71QAN Qantas AirwaysPairCorr
  0.67FTK flatexDEGIRO AGPairCorr
  0.88BZZ Bank of MontrealPairCorr
  0.73ADH2 Air CanadaPairCorr
  0.76108 Sumitomo Rubber InduPairCorr
  0.62TM5 T MobilePairCorr
  0.79EMR EMERSON ELECTRICPairCorr
  0.71CEK CEOTRONICSPairCorr
  0.86H0O REVO INSURANCE SPAPairCorr
  0.62CSA Accenture plcPairCorr
  0.77HDFA HDFC Bank LimitedPairCorr
  0.63BRYN Berkshire HathawayPairCorr
  0.69BBEA Boston BeerPairCorr
  0.91APC Apple IncPairCorr
  0.871DH Clarkson PLCPairCorr
  0.88117 Arista Networks SplitPairCorr

Moving against Okta Stock

  0.7HYU Hyundai MotorPairCorr
  0.68HYU Hyundai MotorPairCorr
  0.65HYU Hyundai MotorPairCorr
  0.312WGA WOORI FIN GRPPairCorr
  0.33CN6 BII Railway TransporPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
0XE
+ 0.91
FRI
0NU
+ 0.91
FRI
FFV
+ 0.86
0OK
0XE
+ 0.85
FFV
FFV
+ 0.81
FRI
0NU
+ 0.78
0XE
  
High negative correlations   
AOS
- 0.38
17W
FFV
- 0.1
17W
0OK
- 0.08
17W

Risk-Adjusted Indicators

There is a big difference between Okta Stock performing well and Okta Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Okta's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Okta without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Okta Corporate Management

Elected by the shareholders, the Okta's board of directors comprises two types of representatives: Okta inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Okta. The board's role is to monitor Okta's management team and ensure that shareholders' interests are well served. Okta's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Okta's outside directors are responsible for providing unbiased perspectives on the board's policies.
Jonathan RunyanGeneral Counsel, SecretaryProfile
Brett TigheChief OfficerProfile
Shibu NinanChief OfficerProfile
Eugenio PaceCofounder IdentityProfile
Sagnik NandyPres IdentityProfile
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