CBOE vs. FFIV

Last updated Jul 25, 2026

CBOE (Cboe Global Markets, Inc.) and FFIV (F5 Networks, Inc.) are both stocks. CBOE operates in Financial Data & Stock Exchanges (Financial Services), while FFIV operates in Software - Infrastructure (Technology). Over the past 10 years, CBOE returned 16.91%/yr vs 12.20%/yr for FFIV. At a 0.16 correlation, their price movements are largely independent.

Performance

CBOE vs. FFIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cboe Global Markets, Inc. (CBOE) and F5 Networks, Inc. (FFIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBOE achieves a 14.09% return, which is significantly lower than FFIV's 53.65% return. Over the past 10 years, CBOE has outperformed FFIV with an annualized return of 16.91%, while FFIV has yielded a comparatively lower 12.20% annualized return.

CBOE

• 1D: 0.07%
• 1M: 14.22%
• 6M: 3.61%
• YTD: 14.09%
• 1Y: 17.14%
• 3Y*: 27.33%
• 5Y*: 20.45%
• 10Y*: 16.91%
• ALL TIME*: 16.25%

FFIV

• 1D: 1.06%
• 1M: 1.93%
• 6M: 51.28%
• YTD: 53.65%
• 1Y: 29.90%
• 3Y*: 35.12%
• 5Y*: 15.34%
• 10Y*: 12.20%
• ALL TIME*: 17.33%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CBOE Cboe Global Markets, Inc.	$291.27M	$335.05M	$415.23M
FFIV F5 Networks, Inc.	$209.06M	$228.77M	$258.36M

CBOE vs. FFIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CBOE Cboe Global Markets, Inc.	14.09%	29.96%	10.74%	44.37%	-2.16%	42.23%	-21.17%	24.16%	-20.60%	70.49%
FFIV F5 Networks, Inc.	53.65%	1.51%	40.50%	24.72%	-41.36%	39.09%	25.99%	-13.81%	23.48%	-9.33%

Correlation

The correlation between CBOE and FFIV is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	-0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Jun 15, 2010	0.16

The correlation between CBOE and FFIV shifts across timeframes, from -0.11 (3 years) to 0.16 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CBOE : $29.83B FFIV : $22.13B
EPS CBOE : $11.77 FFIV : $12.22
PE Ratio CBOE : 24.23 FFIV : 32.10
PEG Ratio CBOE : 0.45 FFIV : 1.40
PS Ratio CBOE : 6.24 FFIV : 9.42
PB Ratio CBOE : 5.57 FFIV : 6.16
Total Revenue (TTM) CBOE : $4.79B FFIV : $2.41B
Gross Profit (TTM) CBOE : $2.50B FFIV : $2.63B
EBITDA (TTM) CBOE : $1.87B FFIV : $889.95M

Return for Risk

CBOE vs. FFIV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CBOE

CBOE Risk / Return Rank: 62
CBOE Sharpe Ratio Rank: 66
CBOE Sortino Ratio Rank: 59
CBOE Omega Ratio Rank: 60
CBOE Calmar Ratio Rank: 59
CBOE Martin Ratio Rank: 64

FFIV

FFIV Risk / Return Rank: 69
FFIV Sharpe Ratio Rank: 74
FFIV Sortino Ratio Rank: 69
FFIV Omega Ratio Rank: 69
FFIV Calmar Ratio Rank: 66
FFIV Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CBOE vs. FFIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cboe Global Markets, Inc. (CBOE) and F5 Networks, Inc. (FFIV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CBOE	FFIV	Difference
Sharpe ratio: Return per unit of total volatility	0.55	0.87	-0.32
Sortino ratio: Return per unit of downside risk	0.92	1.34	-0.43
Omega ratio: Gain probability vs. loss probability	1.13	1.18	-0.05
Calmar ratio: Return relative to maximum drawdown	0.47	0.86	-0.40
Martin ratio: Return relative to average drawdown	1.56	1.89	-0.33

CBOE vs. FFIV - Sharpe Ratio Comparison

The current CBOE Sharpe Ratio is 0.55, which is lower than the FFIV Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of CBOE and FFIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CBOE vs. FFIV - Drawdown Comparison

The maximum CBOE drawdown since its inception was -43.23%, smaller than the maximum FFIV drawdown of -97.59%. Use the drawdown chart below to compare losses from any high point for CBOE and FFIV.

Drawdown Indicators

	CBOE	FFIV	Difference
Max Drawdown Largest peak-to-trough decline	-43.23%	-97.59%	+54.36%
Max Drawdown (1Y) Largest decline over 1 year	-36.73%	-34.73%	-2.00%
Max Drawdown (3Y) Largest decline over 3 years	-36.73%	-34.73%	-2.00%
Max Drawdown (5Y) Largest decline over 5 years	-36.73%	-47.42%	+10.69%
Max Drawdown (10Y) Largest decline over 10 years	-43.23%	-54.59%	+11.36%
Current Drawdown Current decline from peak	-22.10%	-9.05%	-13.05%
Average Drawdown Average peak-to-trough decline	-11.52%	-40.01%	+28.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.98%	15.84%	-4.86%

Volatility

CBOE vs. FFIV - Volatility Comparison

Cboe Global Markets, Inc. (CBOE) and F5 Networks, Inc. (FFIV) have volatilities of 10.75% and 10.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBOE	FFIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.75%	10.69%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	28.42%	25.56%	+2.86%
Volatility (1Y) Calculated over the trailing 1-year period	31.21%	34.56%	-3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.05%	30.21%	-6.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.78%	29.58%	-3.80%

Dividends

CBOE vs. FFIV - Dividend Comparison

CBOE's dividend yield for the trailing twelve months is around 1.01%, while FFIV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBOE Cboe Global Markets, Inc.	1.01%	1.08%	1.21%	1.18%	1.56%	1.38%	1.68%	1.12%	1.19%	0.83%	1.30%	1.36%
FFIV F5 Networks, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both CBOE and FFIV in my portfolio?

CBOE and FFIV have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CBOE or FFIV?

CBOE has higher volatility (10.75%) compared to FFIV (10.69%). In terms of maximum drawdown, CBOE dropped -43.23% vs FFIV's -97.59%.

Which has better risk-adjusted returns?

FFIV currently has the higher Sharpe Ratio (0.87 vs 0.55), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.