CVLT vs VRNS: Correlation
Measured on weekly returns over the past three years, Commvault Systems, Inc. (CVLT) and Varonis Systems, Inc. (VRNS) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVLT and VRNS?
On 3 years of weekly data the CVLT/VRNS correlation comes out at 0.47, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.60 versus 0.47 over 3 years. The 5-year figure is 0.40, and annualized covariance runs at 1056.1 %².
By 3-year correlation, VRNS places #5 of the 10 assets tracked against CVLT. Twelve-month performance is nearly a tie, at -23.8% for CVLT and -23.4% for VRNS.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CVLT vs VRNS: side by side
| CVLT (Commvault Systems, Inc.) | VRNS (Varonis Systems, Inc.) | |
|---|---|---|
| 1-year return | -23.8% | -23.4% |
| 5-year return | +73.1% | -35.2% |
| Volatility (ann.) | 44.6% | 50.1% |
| Beta vs S&P 500 | 1.29 | 1.01 |
| Max drawdown (3Y) | -61.5% | -68.1% |
| Market cap | $5.8B | $5.1B |
| P/E (trailing) | 86.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVLT | VRNS |
|---|---|---|
| 2022 | -8.8% | -50.9% |
| 2023 | +27.1% | +89.1% |
| 2024 | +89.0% | -1.9% |
| 2025 | -16.9% | -26.2% |
| 2026 | +12.0% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVLT and VRNS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CVLT and VRNS?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.60 over the last year and 0.40 over 5 years.
Is VRNS a good diversifier for CVLT?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: CVLT correlations · VRNS correlations
