Tenable Holdings Correlations

TENB Stock

USD 36.25 0.12 0.33%

The current 90-days correlation between Tenable Holdings and Qualys Inc is 0.47 (i.e., Very weak diversification). The correlation of Tenable Holdings 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.

Tenable Holdings Correlation With Market

Weak diversification

The correlation between Tenable Holdings and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tenable Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tenable Holdings. 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 information on how to trade Tenable Stock refer to our How to Trade Tenable Stock guide.

Moving together with Tenable Stock

0.79	S	SentinelOne	Pair Corr
0.75	VRNS	Varonis Systems	Pair Corr
0.61	EXOD	Exodus Movement, Trending	Pair Corr
0.73	FIVN	Five9 Inc	Pair Corr
0.75	FLYW	Flywire Corp	Pair Corr
0.65	FOUR	Shift4 Payments	Pair Corr
0.67	DBX	Dropbox	Pair Corr
0.65	DLO	Dlocal Tech Boost	Pair Corr
0.63	GCT	GigaCloud Technology	Pair Corr
0.64	MDB	MongoDB	Pair Corr

Moving against Tenable Stock

0.68	EVTC	Evertec	Pair Corr
0.66	VRSN	VeriSign	Pair Corr
0.44	MQ	Marqeta	Pair Corr
0.35	GB	Global Blue Group	Pair Corr
0.7	GRRR	Gorilla Technology Buyout Trend	Pair Corr
0.57	TCX	Tucows Inc	Pair Corr
0.51	SWI	SolarWinds Corp	Pair Corr

Related Correlations Analysis

	QLYS	NEWR	VRNS	S	RPD	SPSC	FFIV	CHKP	OKTA	WIX
QLYS		0.0	0.79	0.88	0.78	0.51	0.21	-0.45	-0.57	0.52	QLYS
NEWR	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NEWR
VRNS	0.79	0.0		0.69	0.8	0.51	-0.15	-0.69	-0.74	0.45	VRNS
S	0.88	0.0	0.69		0.8	0.58	0.39	-0.39	-0.55	0.67	S
RPD	0.78	0.0	0.8	0.8		0.78	-0.15	-0.8	-0.78	0.64	RPD
SPSC	0.51	0.0	0.51	0.58	0.78		-0.22	-0.59	-0.54	0.88	SPSC
FFIV	0.21	0.0	-0.15	0.39	-0.15	-0.22		0.6	0.26	0.15	FFIV
CHKP	-0.45	0.0	-0.69	-0.39	-0.8	-0.59	0.6		0.85	-0.36	CHKP
OKTA	-0.57	0.0	-0.74	-0.55	-0.78	-0.54	0.26	0.85		-0.44	OKTA
WIX	0.52	0.0	0.45	0.67	0.64	0.88	0.15	-0.36	-0.44		WIX
	QLYS	NEWR	VRNS	S	RPD	SPSC	FFIV	CHKP	OKTA	WIX

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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

S	+ 0.88	QLYS
WIX	+ 0.88	SPSC
OKTA	+ 0.85	CHKP
RPD	+ 0.8	VRNS
RPD	+ 0.8	S
VRNS	+ 0.79	QLYS

High negative correlations

CHKP	- 0.8	RPD
OKTA	- 0.78	RPD
OKTA	- 0.74	VRNS
CHKP	- 0.69	VRNS
CHKP	- 0.59	SPSC
OKTA	- 0.57	QLYS

Risk-Adjusted Indicators

There is a big difference between Tenable Stock performing well and Tenable Holdings 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 Tenable Holdings' 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
QLYS	1.41	(0.15)	0.00	(0.24)	0.00	0.00	2.64	(3.60)	7.24
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
SPSC	1.58	(0.52)	0.00	(0.79)	0.00	0.00	2.21	(2.96)	16.60
FFIV	1.25	0.16	0.10	0.11	1.56	(1.27)	2.03	(2.97)	14.71
CHKP	1.28	0.37	0.26	0.30	1.13	(1.44)	3.01	(1.98)	9.54
OKTA	2.15	0.60	0.26	0.81	1.97	(2.48)	4.48	(3.96)	30.71
WIX	2.00	(0.30)	0.00	(0.29)	0.00	0.00	3.21	(5.33)	13.93

Tenable Holdings Corporate Management

Bridgett Paradise	Chief People Officer	Profile
Barron Anschutz	Principal Officer	Profile
Michela Stribling	Chief Officer	Profile
Mark Thurmond	Chief Officer	Profile
Terry Dolce	Global Operations	Profile
Stephen Vintz	Chief Officer	Profile

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