Cognyte Software Correlations

CGNT Stock

USD 8.33 0.02 0.24%

The current 90-days correlation between Cognyte Software and Varonis Systems is -0.27 (i.e., Very good diversification). The correlation of Cognyte Software 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Cognyte Software Correlation With Market

Good diversification

The correlation between Cognyte Software and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cognyte Software and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cognyte Software. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Cognyte Stock please use our How to Invest in Cognyte Software guide.

Moving together with Cognyte Stock

0.68	S	SentinelOne	Pair Corr
0.74	DOCN	DigitalOcean Holdings	Pair Corr
0.74	FFIV	F5 Networks Sell-off Trend	Pair Corr
0.77	BOX	Box Inc	Pair Corr
0.77	FOUR	Shift4 Payments	Pair Corr
0.69	DBX	Dropbox	Pair Corr
0.69	DLO	Dlocal Tech Boost	Pair Corr
0.63	FTNT	Fortinet	Pair Corr
0.84	IOT	Samsara	Pair Corr
0.73	MDB	MongoDB	Pair Corr
0.78	NET	Cloudflare	Pair Corr

Moving against Cognyte Stock

0.45	EVTC	Evertec	Pair Corr
0.42	MQ	Marqeta	Pair Corr
0.33	GB	Global Blue Group	Pair Corr
0.39	TCX	Tucows Inc	Pair Corr

Related Correlations Analysis

	CSGS	EVTC	VRNS	RDWR	GB	CLBTW	CCSI	CCCS	NTCT	ESMT
CSGS		0.3	-0.64	0.32	0.01	0.0	0.49	-0.68	0.42	0.0	CSGS
EVTC	0.3		-0.48	-0.09	0.09	0.0	-0.42	-0.57	-0.5	0.0	EVTC
VRNS	-0.64	-0.48		0.21	-0.34	0.0	0.07	0.84	0.22	0.0	VRNS
RDWR	0.32	-0.09	0.21		-0.6	0.0	0.47	0.29	0.66	0.0	RDWR
GB	0.01	0.09	-0.34	-0.6		0.0	-0.22	-0.46	-0.37	0.0	GB
CLBTW	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CLBTW
CCSI	0.49	-0.42	0.07	0.47	-0.22	0.0		0.05	0.81	0.0	CCSI
CCCS	-0.68	-0.57	0.84	0.29	-0.46	0.0	0.05		0.25	0.0	CCCS
NTCT	0.42	-0.5	0.22	0.66	-0.37	0.0	0.81	0.25		0.0	NTCT
ESMT	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ESMT
	CSGS	EVTC	VRNS	RDWR	GB	CLBTW	CCSI	CCCS	NTCT	ESMT

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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

CCCS	+ 0.84	VRNS
NTCT	+ 0.81	CCSI
NTCT	+ 0.66	RDWR
CCSI	+ 0.49	CSGS
CCSI	+ 0.47	RDWR
NTCT	+ 0.42	CSGS

High negative correlations

CCCS	- 0.68	CSGS
VRNS	- 0.64	CSGS
GB	- 0.6	RDWR
CCCS	- 0.57	EVTC
NTCT	- 0.5	EVTC
VRNS	- 0.48	EVTC

Risk-Adjusted Indicators

There is a big difference between Cognyte Stock performing well and Cognyte Software 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 Cognyte Software'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CSGS	1.25	0.23	0.15	0.20	1.43	(1.29)	2.82	(2.16)	8.74
EVTC	1.25	0.13	0.11	0.16	1.33	(1.57)	2.06	(1.85)	18.49
VRNS	1.49	(0.17)	0.00	(0.40)	0.00	0.00	2.46	(3.56)	10.67
RDWR	1.43	(0.02)	0.00	(0.11)	0.00	0.00	2.47	(2.91)	8.46
GB	1.78	0.34	0.17	3.63	1.74	(2.15)	3.86	(3.54)	18.44
CLBTW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CCSI	1.98	0.10	0.02	0.00	3.00	(1.83)	4.01	(4.06)	20.81
CCCS	1.06	(0.42)	0.00	(0.89)	0.00	0.00	1.50	(3.06)	7.62
NTCT	1.46	(0.02)	0.00	(0.09)	0.00	0.00	2.20	(3.31)	16.99
ESMT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Cognyte Software Corporate Management

Rini Karlin	Chief Officer	Profile
Dean Ridlon	Head Relations	Profile
Efi Nuri	Chief Officer	Profile
Miki Migdal	Chief Officer	Profile
Gil Cohen	Chief Officer	Profile
Sharon Chouli	Chief Officer	Profile
Amir Barel	Chief Officer	Profile

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