RDWR vs VRNS: Correlation
Radware Ltd. (RDWR) and Varonis Systems, Inc. (VRNS) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RDWR and VRNS?
On 3 years of weekly data the RDWR/VRNS correlation comes out at 0.42, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.52 versus 0.42 over 3 years. The 5-year figure is 0.47, and annualized covariance runs at 780.6 %².
Among the 10 assets we track against RDWR, VRNS ranks #5 by 3-year correlation. The last year tells two different stories: RDWR led by 38.3 percentage points, +14.9% for RDWR against -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.
RDWR vs VRNS: side by side
| RDWR (Radware Ltd.) | VRNS (Varonis Systems, Inc.) | |
|---|---|---|
| 1-year return | +14.9% | -23.4% |
| 5-year return | -13.5% | -35.2% |
| Volatility (ann.) | 36.7% | 50.1% |
| Beta vs S&P 500 | 0.85 | 1.01 |
| Max drawdown (3Y) | -29.4% | -68.1% |
| Market cap | $1.2B | $5.1B |
| P/E (trailing) | 75.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RDWR | VRNS |
|---|---|---|
| 2022 | -52.6% | -50.9% |
| 2023 | -15.5% | +89.1% |
| 2024 | +35.1% | -1.9% |
| 2025 | +6.9% | -26.2% |
| 2026 | +22.7% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RDWR and VRNS good diversifiers for each other?
Reasonably. At 0.42, RDWR and VRNS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between RDWR and VRNS?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.52 over the last year and 0.47 over 5 years.
Is VRNS a good diversifier for RDWR?
Reasonably. At 0.42, RDWR and VRNS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: RDWR correlations · VRNS correlations
