CyberArk Software Correlations

CYBR Stock

USD 408.85 1.64 0.40%

The current 90-days correlation between CyberArk Software and VeriSign is -0.02 (i.e., Good 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

Pay attention - limited upside

The correlation between CyberArk Software and DJI is -0.71 (i.e., Pay attention - limited upside) 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. 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.

Moving together with CyberArk Stock

0.79	S	SentinelOne	Pair Corr
0.85	ZS	Zscaler Earnings Call Today	Pair Corr
0.75	ANY	Sphere 3D Corp	Pair Corr
0.7	BTQ	BTQ Technologies Corp Upward Rally	Pair Corr
0.64	FROG	Jfrog	Pair Corr
0.8	FUBO	Fubotv Inc Earnings Call Tomorrow	Pair Corr
0.67	NOW	ServiceNow	Pair Corr
0.66	PGY	Pagaya Technologies	Pair Corr
0.68	RPD	Rapid7 Inc	Pair Corr
0.69	TLS	Telos Corp	Pair Corr
0.62	XTKG	X3 Holdings	Pair Corr
0.85	GTLB	Gitlab Inc Earnings Call This Week	Pair Corr
0.66	INLX	Intellinetics	Pair Corr
0.63	INTZ	Intrusion	Pair Corr
0.65	PRO	Prophecy International	Pair Corr
0.68	MSFT	Microsoft	Pair Corr
0.66	NABL	N Able Inc	Pair Corr
0.62	ORCL	Oracle	Pair Corr
0.68	PANW	Palo Alto Networks	Pair Corr
0.72	QLYS	Qualys Inc	Pair Corr

Moving against CyberArk Stock

0.4	OS	OneStream Class A Earnings Call Today	Pair Corr
0.37	TDC	Teradata Corp	Pair Corr
0.62	ATEN	A10 Network	Pair Corr
0.31	NBIS	Nebius Group NV Aggressive Push	Pair Corr

Related Correlations Analysis

	VRSN	MDB	IOT	CHKP	AFRM	FFIV	TTD	TOST	PTC	ZM
VRSN		0.4	0.59	0.75	0.76	-0.49	0.8	0.77	0.63	-0.39	VRSN
MDB	0.4		0.55	0.64	0.73	0.1	0.52	0.75	0.62	0.13	MDB
IOT	0.59	0.55		0.8	0.63	-0.63	0.87	0.83	0.91	-0.35	IOT
CHKP	0.75	0.64	0.8		0.8	-0.42	0.84	0.87	0.83	-0.18	CHKP
AFRM	0.76	0.73	0.63	0.8		-0.27	0.83	0.92	0.78	-0.34	AFRM
FFIV	-0.49	0.1	-0.63	-0.42	-0.27		-0.68	-0.44	-0.6	0.63	FFIV
TTD	0.8	0.52	0.87	0.84	0.83	-0.68		0.92	0.91	-0.54	TTD
TOST	0.77	0.75	0.83	0.87	0.92	-0.44	0.92		0.91	-0.35	TOST
PTC	0.63	0.62	0.91	0.83	0.78	-0.6	0.91	0.91		-0.35	PTC
ZM	-0.39	0.13	-0.35	-0.18	-0.34	0.63	-0.54	-0.35	-0.35		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

TOST	+ 0.92	AFRM
TOST	+ 0.92	TTD
PTC	+ 0.91	IOT
PTC	+ 0.91	TTD
PTC	+ 0.91	TOST
TTD	+ 0.87	IOT

High negative correlations

TTD	- 0.68	FFIV
FFIV	- 0.63	IOT
PTC	- 0.6	FFIV
ZM	- 0.54	TTD
FFIV	- 0.49	VRSN
TOST	- 0.44	FFIV

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	1.04	(0.20)	0.00	(3.70)	0.00	0.00	1.87	(2.96)	10.51
MDB	2.86	(0.22)	0.00	(0.01)	0.00	0.00	5.45	(6.15)	33.61
IOT	2.72	(0.58)	0.00	(0.18)	0.00	0.00	5.26	(6.66)	19.39
CHKP	1.47	(0.40)	0.00	(0.25)	0.00	0.00	2.25	(3.41)	9.44
AFRM	2.70	(0.59)	0.00	(0.23)	0.00	0.00	4.11	(5.21)	23.76
FFIV	1.53	0.19	0.11	0.23	1.80	(1.60)	3.94	(3.18)	15.39
TTD	1.96	(0.81)	0.00	(0.51)	0.00	0.00	3.46	(4.79)	15.09
TOST	2.25	(0.46)	0.00	(0.15)	0.00	0.00	4.14	(5.33)	14.93
PTC	1.35	(0.26)	0.00	(0.16)	0.00	0.00	2.10	(3.38)	7.45
ZM	1.85	(0.03)	0.01	0.08	2.21	(2.03)	3.85	(4.10)	15.97

CyberArk Software Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with CyberArk Software stock to make a market-neutral strategy. Peer analysis of CyberArk Software could also be used in its relative valuation, which is a method of valuing CyberArk Software by comparing valuation metrics with similar companies.

VeriSign MongoDB Samsara Check Point Software Affirm Holdings F5 Networks Trade Desk Toast Inc PTC Inc Zoom Video Communications American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

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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