TENB vs VRNS: Correlation
Tenable Holdings, Inc. (TENB) and Varonis Systems, Inc. (VRNS) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TENB and VRNS?
Over the past 3 years, TENB and VRNS moved with a correlation of 0.55, which is moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 1143.6 %².
By 3-year correlation, VRNS places #6 of the 19 assets tracked against TENB. Correlation aside, the last 12 months split them widely, with TENB ahead by 46.4 points (+23.0% versus -23.4%).
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.
TENB vs VRNS: side by side
| TENB (Tenable Holdings, Inc.) | VRNS (Varonis Systems, Inc.) | |
|---|---|---|
| 1-year return | +23.0% | -23.4% |
| 5-year return | -16.1% | -35.2% |
| Volatility (ann.) | 41.5% | 50.1% |
| Beta vs S&P 500 | 1.04 | 1.01 |
| Max drawdown (3Y) | -69.1% | -68.1% |
| Market cap | $4.1B | $5.1B |
| P/E (trailing) | 537.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TENB | VRNS |
|---|---|---|
| 2022 | -30.7% | -50.9% |
| 2023 | +20.7% | +89.1% |
| 2024 | -14.5% | -1.9% |
| 2025 | -40.2% | -26.2% |
| 2026 | +59.9% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TENB and VRNS good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between TENB and VRNS?
The TENB/VRNS correlation stands at 0.55 on a 3-year window (1 year: 0.58, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is VRNS a good diversifier for TENB?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tenb-vs-vrns.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/tenb-vs-vrns/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TENB correlations · VRNS correlations
