CyberArk Software Correlations

CYBR Stock

USD 351.76 5.00 1.44%

The current 90-days correlation between CyberArk Software and F5 Networks is 0.37 (i.e., Weak diversification). The correlation of CyberArk 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.

CyberArk Software Correlation With Market

Very weak diversification

The correlation between CyberArk Software and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CyberArk 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 CyberArk 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 bureau of labor statistics.

To learn how to invest in CyberArk Stock, please use our How to Invest in CyberArk Software guide.

Moving together with CyberArk Stock

0.88	BB	BlackBerry	Pair Corr
0.61	JG	Aurora Mobile	Pair Corr
0.69	ZS	Zscaler	Pair Corr
0.8	DOCN	DigitalOcean Holdings	Pair Corr
0.88	FFIV	F5 Networks	Pair Corr
0.82	BOX	Box Inc	Pair Corr
0.69	DLO	Dlocal	Pair Corr
0.8	FTNT	Fortinet	Pair Corr
0.8	IOT	Samsara	Pair Corr
0.63	MDB	MongoDB	Pair Corr
0.88	NET	Cloudflare	Pair Corr
0.71	PGY	Pagaya Technologies	Pair Corr

Moving against CyberArk Stock

0.49	NN	Nextnav Acquisition Corp	Pair Corr
0.36	VRAR	Glimpse Group	Pair Corr
0.32	EVTC	Evertec	Pair Corr
0.64	HCP	Hashicorp	Pair Corr

Related Correlations Analysis

	FFIV	QLYS	VRSN	DOX	TENB	NEWR	VRNS	S	RPD	CHKP
FFIV		0.15	0.48	0.45	0.13	0.0	-0.2	0.36	-0.19	0.63	FFIV
QLYS	0.15		-0.66	-0.25	0.83	0.0	0.79	0.88	0.78	-0.45	QLYS
VRSN	0.48	-0.66		0.71	-0.66	0.0	-0.8	-0.59	-0.91	0.91	VRSN
DOX	0.45	-0.25	0.71		-0.33	0.0	-0.47	-0.35	-0.7	0.85	DOX
TENB	0.13	0.83	-0.66	-0.33		0.0	0.75	0.79	0.77	-0.44	TENB
NEWR	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	NEWR
VRNS	-0.2	0.79	-0.8	-0.47	0.75	0.0		0.69	0.8	-0.69	VRNS
S	0.36	0.88	-0.59	-0.35	0.79	0.0	0.69		0.8	-0.39	S
RPD	-0.19	0.78	-0.91	-0.7	0.77	0.0	0.8	0.8		-0.8	RPD
CHKP	0.63	-0.45	0.91	0.85	-0.44	0.0	-0.69	-0.39	-0.8		CHKP
	FFIV	QLYS	VRSN	DOX	TENB	NEWR	VRNS	S	RPD	CHKP

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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

CHKP	+ 0.91	VRSN
S	+ 0.88	QLYS
CHKP	+ 0.85	DOX
TENB	+ 0.83	QLYS
RPD	+ 0.8	VRNS
RPD	+ 0.8	S

High negative correlations

RPD	- 0.91	VRSN
CHKP	- 0.8	RPD
VRNS	- 0.8	VRSN
RPD	- 0.7	DOX
CHKP	- 0.69	VRNS
TENB	- 0.66	VRSN

Risk-Adjusted Indicators

There is a big difference between CyberArk Stock performing well and CyberArk 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 CyberArk 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
FFIV	1.24	0.11	0.07	0.05	1.61	(1.23)	2.03	(3.00)	14.71
QLYS	1.41	(0.15)	0.00	(0.24)	0.00	0.00	2.64	(3.60)	7.24
VRSN	0.77	0.35	0.38	0.66	0.56	(0.85)	2.18	(1.30)	4.96
DOX	0.78	0.06	0.08	0.04	0.97	(0.78)	1.58	(1.53)	4.15
TENB	1.59	(0.14)	0.00	(0.22)	0.00	0.00	2.92	(3.22)	12.88
NEWR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VRNS	1.48	(0.16)	0.00	(0.39)	0.00	0.00	2.46	(3.56)	10.67
S	1.76	(0.24)	0.00	(0.30)	0.00	0.00	2.93	(5.13)	13.27
RPD	1.56	(0.45)	0.00	(0.60)	0.00	0.00	3.39	(3.85)	9.26
CHKP	1.28	0.37	0.26	0.30	1.13	(1.44)	3.01	(1.98)	9.54

CyberArk Software Corporate Management

Matthew Cohen	Chief Officer	Profile
John Curry	Chief Officer	Profile
Simon Mouyal	Chief Officer	Profile
Erica Smith	Vice Relations	Profile
Joshua Siegel	Chief Officer	Profile
Donna Rahav	Chief Officer	Profile

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