CyberArk Software Correlations

CYBR Stock

USD 427.27 3.56 0.83%

The current 90-days correlation between CyberArk Software and VeriSign is 0.15 (i.e., Average 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 good diversification

The correlation between CyberArk Software and DJI is -0.43 (i.e., Very good 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.

Build AI portfolio with CyberArk Stock

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

0.82	S	SentinelOne	Pair Corr
0.8	DTSS	Datasea	Pair Corr
0.62	FTNT	Fortinet Earnings Call This Week	Pair Corr
0.84	FUBO	Fubotv Inc	Pair Corr
0.78	PGY	Pagaya Technologies Earnings Call This Week	Pair Corr
0.84	INLX	Intellinetics	Pair Corr
0.91	INTZ	Intrusion	Pair Corr
0.83	MSFT	Microsoft	Pair Corr
0.7	NBIS	Nebius Group NV	Pair Corr
0.93	ORCL	Oracle	Pair Corr
0.65	SVCO	Silvaco Group Common	Pair Corr
0.8	TAOX	TAO Synergies Symbol Change	Pair Corr
0.84	CHKP	Check Point Software	Pair Corr

Moving against CyberArk Stock

0.58	TLK	Telkom Indonesia Tbk	Pair Corr
0.43	FROG	Jfrog	Pair Corr
0.34	PTAIY	Astra International Tbk	Pair Corr
0.8	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.74	MTSFY	Mitsui Fudosan Earnings Call This Week	Pair Corr
0.71	INDV	Indivior PLC Ordinary	Pair Corr
0.69	TCX	Tucows Inc	Pair Corr
0.69	TLSNF	Telia Company	Pair Corr
0.67	NHYDY	Norsk Hydro ASA	Pair Corr
0.62	LOVFF	Cannara Biotech	Pair Corr
0.51	URBN	Urban Outfitters	Pair Corr
0.5	TNSGF	Findev Inc	Pair Corr
0.49	ASML	ASML Holding NV	Pair Corr
0.48	EC	Ecopetrol SA ADR	Pair Corr
0.47	AAVXF	ABIVAX Socit Anonyme	Pair Corr
0.4	BWA	BorgWarner Earnings Call This Week	Pair Corr

Related Correlations Analysis

	VRSN	MDB	IOT	CHKP	AFRM	FFIV	TTD	TOST	PTC	ZM
VRSN		-0.13	-0.29	-0.36	-0.18	-0.18	-0.47	-0.33	-0.55	-0.01	VRSN
MDB	-0.13		-0.08	-0.17	0.44	0.63	-0.49	0.18	-0.27	0.51	MDB
IOT	-0.29	-0.08		0.73	0.09	-0.47	0.59	0.58	0.65	-0.14	IOT
CHKP	-0.36	-0.17	0.73		0.26	-0.33	0.73	0.75	0.72	-0.15	CHKP
AFRM	-0.18	0.44	0.09	0.26		0.23	0.2	0.66	0.27	-0.06	AFRM
FFIV	-0.18	0.63	-0.47	-0.33	0.23		-0.47	-0.17	-0.31	0.6	FFIV
TTD	-0.47	-0.49	0.59	0.73	0.2	-0.47		0.59	0.9	-0.43	TTD
TOST	-0.33	0.18	0.58	0.75	0.66	-0.17	0.59		0.63	-0.14	TOST
PTC	-0.55	-0.27	0.65	0.72	0.27	-0.31	0.9	0.63		-0.18	PTC
ZM	-0.01	0.51	-0.14	-0.15	-0.06	0.6	-0.43	-0.14	-0.18		ZM
	VRSN	MDB	IOT	CHKP	AFRM	FFIV	TTD	TOST	PTC	ZM

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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

PTC	+ 0.9	TTD
TOST	+ 0.75	CHKP
CHKP	+ 0.73	IOT
TTD	+ 0.73	CHKP
PTC	+ 0.72	CHKP
TOST	+ 0.66	AFRM

High negative correlations

PTC	- 0.55	VRSN
TTD	- 0.49	MDB
TTD	- 0.47	FFIV
FFIV	- 0.47	IOT
TTD	- 0.47	VRSN
ZM	- 0.43	TTD

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
VRSN	0.98	0.04	0.02	0.11	1.31	(1.00)	2.35	(1.82)	6.57
MDB	2.44	0.19	0.05	2.04	2.74	(2.88)	3.57	(4.77)	31.24
IOT	2.24	(0.66)	0.00	(0.42)	0.00	0.00	4.15	(5.61)	19.39
CHKP	1.32	(0.22)	0.00	(0.22)	0.00	0.00	2.06	(2.74)	6.16
AFRM	2.91	(0.35)	0.00	(0.11)	0.00	0.00	6.01	(5.17)	18.92
FFIV	1.44	0.03	0.02	0.07	1.54	(1.57)	3.75	(3.08)	11.43
TTD	1.89	(0.86)	0.00	(0.76)	0.00	0.00	3.39	(4.79)	13.95
TOST	2.15	(0.31)	0.00	(0.14)	0.00	0.00	4.14	(4.25)	16.25
PTC	1.23	(0.43)	0.00	(0.34)	0.00	0.00	1.93	(3.01)	9.03
ZM	1.64	0.10	0.06	0.12	1.77	(1.91)	3.85	(3.33)	15.07

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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