Tenable Holdings Correlations

TENB Stock

USD 26.06 0.92 3.41%

The current 90-days correlation between Tenable Holdings and DigitalOcean Holdings is 0.32 (i.e., 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

Very weak diversification

The correlation between Tenable Holdings and DJI is 0.43 (i.e., Very 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.

Build AI portfolio with Tenable Stock

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 state.

For information on how to trade Tenable Stock refer to our How to Trade Tenable Stock guide.

Moving together with Tenable Stock

0.73	IVDA	Iveda Solutions	Pair Corr
0.62	OSPN	OneSpan	Pair Corr
0.71	RBRK	Rubrik,	Pair Corr

Moving against Tenable Stock

0.66	600756	Inspur Software	Pair Corr
0.66	GTLS	Chart Industries	Pair Corr
0.65	INVX	Innovex International,	Pair Corr
0.61	EC	Ecopetrol SA ADR	Pair Corr
0.58	PTAIY	Astra International Tbk	Pair Corr
0.52	GS	Goldman Sachs Group	Pair Corr
0.49	PUTKY	United Tractors Tbk	Pair Corr
0.4	PATH	Uipath Inc	Pair Corr
0.39	GEBHF	Genting Berhad	Pair Corr
0.79	LSRCY	Lasertec	Pair Corr
0.76	INSM	Insmed Inc	Pair Corr
0.72	YCQH	YCQH Agricultural	Pair Corr
0.61	TYTMF	Tokyo Tatemono Upward Rally	Pair Corr
0.61	BK	Bank of New York	Pair Corr
0.61	SSLLF	Siltronic AG	Pair Corr
0.6	NEE	Nextera Energy Aggressive Push	Pair Corr
0.59	XYL	Xylem Inc	Pair Corr
0.59	ATCD	Altair Corp	Pair Corr
0.57	GLW	Corning Incorporated	Pair Corr

Related Correlations Analysis

	DOCN	WRD	RELY	SPSC	VRNS	CLBT	GBTG	BL	VERX	PTRN
DOCN		-0.19	-0.89	-0.75	-0.59	0.17	-0.51	0.24	-0.73	-0.04	DOCN
WRD	-0.19		0.15	0.47	0.54	0.56	0.36	-0.3	0.57	-0.6	WRD
RELY	-0.89	0.15		0.72	0.53	-0.29	0.6	-0.1	0.67	0.23	RELY
SPSC	-0.75	0.47	0.72		0.88	0.21	0.62	-0.51	0.94	-0.26	SPSC
VRNS	-0.59	0.54	0.53	0.88		0.41	0.56	-0.66	0.91	-0.46	VRNS
CLBT	0.17	0.56	-0.29	0.21	0.41		-0.05	-0.39	0.32	-0.73	CLBT
GBTG	-0.51	0.36	0.6	0.62	0.56	-0.05		-0.02	0.6	-0.09	GBTG
BL	0.24	-0.3	-0.1	-0.51	-0.66	-0.39	-0.02		-0.5	0.58	BL
VERX	-0.73	0.57	0.67	0.94	0.91	0.32	0.6	-0.5		-0.36	VERX
PTRN	-0.04	-0.6	0.23	-0.26	-0.46	-0.73	-0.09	0.58	-0.36		PTRN
	DOCN	WRD	RELY	SPSC	VRNS	CLBT	GBTG	BL	VERX	PTRN

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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

VERX	+ 0.94	SPSC
VERX	+ 0.91	VRNS
VRNS	+ 0.88	SPSC
SPSC	+ 0.72	RELY
VERX	+ 0.67	RELY
GBTG	+ 0.62	SPSC

High negative correlations

RELY	- 0.89	DOCN
SPSC	- 0.75	DOCN
PTRN	- 0.73	CLBT
VERX	- 0.73	DOCN
BL	- 0.66	VRNS
PTRN	- 0.6	WRD

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
DOCN	3.08	0.54	0.22	0.31	2.60	(3.95)	7.17	(4.19)	24.58
WRD	3.67	(0.61)	0.00	(0.10)	0.00	0.00	6.00	(6.66)	27.07
RELY	2.16	(0.73)	0.00	(0.40)	0.00	0.00	3.10	(5.13)	28.30
SPSC	1.70	(0.53)	0.00	(0.43)	0.00	0.00	2.20	(3.32)	24.69
VRNS	2.34	(0.62)	0.00	(0.32)	0.00	0.00	3.06	(3.09)	54.22
CLBT	2.11	0.33	0.10	(9.01)	2.33	(2.44)	3.60	(4.33)	10.41
GBTG	1.41	(0.22)	0.00	(0.08)	0.00	0.00	3.13	(3.57)	11.27
BL	1.38	0.04	0.03	0.10	2.03	(1.22)	3.24	(3.06)	10.66
VERX	2.05	(0.44)	0.00	(0.20)	0.00	0.00	5.39	(4.55)	17.51
PTRN	3.39	0.25	0.08	0.20	3.35	(3.81)	8.81	(4.99)	23.42

Tenable Holdings Corporate Management

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

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