CyberArk Software Correlations

CYB Stock

420.00 0.10 0.02%

The current 90-days correlation between CyberArk Software and Apple Inc is 0.11 (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

Modest diversification

The correlation between CyberArk Software and DJI is 0.28 (i.e., Modest 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.

The ability to find closely correlated positions to CyberArk Software could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CyberArk Software when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back CyberArk Software - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling CyberArk Software to buy it.

Moving together with CyberArk Stock

0.89	APC	Apple Inc	Pair Corr
0.88	APC	Apple Inc	Pair Corr
0.89	APC	Apple Inc	Pair Corr
0.89	APC	Apple Inc	Pair Corr
0.89	APC	Apple Inc	Pair Corr
0.89	APC	Apple Inc	Pair Corr
0.64	MSF	Microsoft	Pair Corr
0.64	MSF	Microsoft	Pair Corr
0.61	MSF	Microsoft	Pair Corr
0.78	LIE	Sun Life Financial	Pair Corr
0.63	5TI	TINC Comm VA	Pair Corr
0.71	74G	DIVIDEND GROWTH SPLIT	Pair Corr

Moving against CyberArk Stock

0.73

ADC

AdCapital AG

Pair Corr

Related Correlations Analysis

	APC	APC	APC	APC	APC	MSF	MSF	MSF	MSF
APC		1.0	0.99	0.99	1.0	0.58	0.5	0.59	0.54	APC
APC	1.0		0.99	1.0	1.0	0.58	0.51	0.59	0.54	APC
APC	0.99	0.99		0.99	0.99	0.57	0.49	0.58	0.53	APC
APC	0.99	1.0	0.99		0.99	0.58	0.51	0.59	0.54	APC
APC	1.0	1.0	0.99	0.99		0.58	0.51	0.6	0.55	APC
MSF	0.58	0.58	0.57	0.58	0.58		0.92	0.99	0.96	MSF
MSF	0.5	0.51	0.49	0.51	0.51	0.92		0.9	0.88	MSF
MSF	0.59	0.59	0.58	0.59	0.6	0.99	0.9		0.96	MSF
MSF	0.54	0.54	0.53	0.54	0.55	0.96	0.88	0.96		MSF
	APC	APC	APC	APC	APC	MSF	MSF	MSF	MSF

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
APC	1.23	0.19	0.13	0.24	1.29	(1.43)	3.55	(2.51)	9.13
APC	1.21	0.20	0.13	0.29	1.32	(1.42)	3.53	(2.89)	10.11
APC	1.09	0.19	0.15	0.24	1.08	(1.26)	2.24	(1.64)	9.58
APC	1.16	0.20	0.13	0.25	1.23	(1.30)	4.31	(2.66)	11.41
APC	1.23	0.18	0.12	0.22	1.28	(1.38)	3.63	(2.09)	9.59
MSF	0.72	(0.04)	0.00	(0.04)	0.00	0.00	1.60	(1.17)	4.89
MSF	0.82	(0.04)	0.00	(0.08)	0.00	0.00	2.10	(1.73)	6.22
MSF	0.75	(0.04)	0.00	(0.03)	0.00	0.00	1.67	(1.54)	4.59
MSF	0.79	(0.04)	0.00	(0.08)	0.00	0.00	1.29	(1.87)	5.84

Be your own money manager

Our tools can tell you how much better you can do entering a position in CyberArk Software without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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