Okta Correlations

OKTA Stock

USD 96.29 3.97 3.96%

The current 90-days correlation between Okta Inc and Crowdstrike Holdings is 0.65 (i.e., Poor diversification). The correlation of Okta 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.

Okta Correlation With Market

Average diversification

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

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Okta Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Okta Stock

0.87	BB	BlackBerry Aggressive Push	Pair Corr
0.71	JG	Aurora Mobile	Pair Corr
0.67	DOCN	DigitalOcean Holdings Earnings Call This Week	Pair Corr
0.89	VRSN	VeriSign	Pair Corr
0.75	EXOD	Exodus Movement,	Pair Corr
0.91	DBX	Dropbox	Pair Corr
0.83	DLO	Dlocal	Pair Corr
0.84	FTNT	Fortinet	Pair Corr
0.93	NET	Cloudflare	Pair Corr
0.86	XNET	Xunlei Ltd Adr Upward Rally	Pair Corr
0.82	SWI	SolarWinds Corp	Pair Corr

Moving against Okta Stock

0.85	FMTO	FMTO Symbol Change	Pair Corr
0.7	VRNS	Varonis Systems	Pair Corr
0.67	NN	Nextnav Acquisition Corp	Pair Corr
0.67	EVTC	Evertec	Pair Corr
0.61	DTSS	Datasea	Pair Corr
0.59	FLYW	Flywire Corp	Pair Corr
0.55	EVCM	EverCommerce	Pair Corr
0.48	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.41	S	SentinelOne	Pair Corr
0.37	MQ	Marqeta	Pair Corr
0.68	OLB	OLB Group	Pair Corr
0.66	RPD	Rapid7 Inc	Pair Corr
0.51	GEN	Gen Digital	Pair Corr

Related Correlations Analysis

	CRWD	NET	MDB	PANW	ZS	ADBE	PATH	NTNX
CRWD		0.95	0.05	0.17	0.44	-0.3	0.54	0.42	CRWD
NET	0.95		-0.08	0.01	0.27	-0.41	0.46	0.23	NET
MDB	0.05	-0.08		0.69	0.82	0.84	0.65	0.61	MDB
PANW	0.17	0.01	0.69		0.74	0.75	0.44	0.58	PANW
ZS	0.44	0.27	0.82	0.74		0.64	0.65	0.82	ZS
ADBE	-0.3	-0.41	0.84	0.75	0.64		0.35	0.43	ADBE
PATH	0.54	0.46	0.65	0.44	0.65	0.35		0.39	PATH
NTNX	0.42	0.23	0.61	0.58	0.82	0.43	0.39		NTNX
	CRWD	NET	MDB	PANW	ZS	ADBE	PATH	NTNX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

NET	+ 0.95	CRWD
ADBE	+ 0.84	MDB
ZS	+ 0.82	MDB
NTNX	+ 0.82	ZS
ADBE	+ 0.75	PANW
ZS	+ 0.74	PANW

High negative correlations

ADBE	- 0.41	NET
ADBE	- 0.3	CRWD
MDB	- 0.08	NET

Risk-Adjusted Indicators

There is a big difference between Okta Stock performing well and Okta 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 Okta'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
CRWD	1.92	0.50	0.21	0.52	1.95	(2.13)	4.40	(3.03)	12.72
NET	2.31	1.00	0.44	37.73	1.52	(2.74)	5.54	(2.66)	17.73
MDB	2.31	0.05	0.01	0.07	3.83	(2.24)	5.34	(4.05)	28.87
PANW	1.46	0.04	0.02	0.14	2.20	(1.36)	3.02	(3.61)	9.25
ZS	1.74	0.14	0.06	0.49	2.19	(1.83)	3.41	(3.37)	12.12
ADBE	1.35	(0.09)	0.00	(0.17)	0.00	0.00	2.74	(3.06)	18.04
PATH	2.49	0.23	0.08	0.17	2.86	(2.73)	6.29	(5.10)	15.59
NTNX	1.64	0.02	0.01	0.03	2.12	(1.90)	3.64	(3.62)	10.97

Okta Corporate Management

Vijay Rao	Chief Officer	Profile
Monty Gray	Executive Development	Profile
Susan Ledger	Pres Operations	Profile
Alvina Antar	Senior Officer	Profile
Dave Gennarelli	Senior Relations	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC