TENB vs. MSFT

Last updated Jun 4, 2026

TENB (Tenable Holdings, Inc.) and MSFT (Microsoft Corporation) are both stocks. Both operate in the Software - Infrastructure industry within the Technology sector. Over the past 5 years, TENB returned -6.60%/yr vs 12.17%/yr for MSFT. At a 0.47 correlation, their price movements are largely independent.

Performance

TENB vs. MSFT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tenable Holdings, Inc. (TENB) and Microsoft Corporation (MSFT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TENB achieves a 26.18% return, which is significantly higher than MSFT's -11.24% return.

TENB

• 1D: -3.92%
• 1M: 42.53%
• YTD: 26.18%
• 6M: 10.74%
• 1Y: -9.32%
• 3Y*: -10.01%
• 5Y*: -6.60%
• 10Y*: —

MSFT

• 1D: -3.17%
• 1M: 3.54%
• YTD: -11.24%
• 6M: -10.15%
• 1Y: -6.96%
• 3Y*: 9.26%
• 5Y*: 12.17%
• 10Y*: 25.03%

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

TENB vs. MSFT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TENB Tenable Holdings, Inc.	26.18%	-40.25%	-14.50%	20.73%	-30.72%	5.38%	118.11%	7.98%	-26.64%
MSFT Microsoft Corporation	-11.24%	15.58%	12.93%	58.19%	-28.02%	52.48%	42.53%	57.56%	-6.59%

Correlation

The correlation between TENB and MSFT is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jul 27, 2018	0.47

The correlation between TENB and MSFT shifts across timeframes, from 0.36 (1 year) to 0.47 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap TENB : $3.49B MSFT : $3.18T
EPS TENB : -$0.10 MSFT : $16.79
PS Ratio TENB : 3.47 MSFT : 10.01
PB Ratio TENB : 14.08 MSFT : 7.68
Total Revenue (TTM) TENB : $1.02B MSFT : $318.27B
Gross Profit (TTM) TENB : $799.18M MSFT : $217.41B
EBITDA (TTM) TENB : $101.15M MSFT : $200.96B

Return for Risk

TENB vs. MSFT — Risk / Return Rank

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

TENB

TENB Risk / Return Rank: 32
TENB Sharpe Ratio Rank: 31
TENB Sortino Ratio Rank: 30
TENB Omega Ratio Rank: 30
TENB Calmar Ratio Rank: 35
TENB Martin Ratio Rank: 35

MSFT

MSFT Risk / Return Rank: 29
MSFT Sharpe Ratio Rank: 29
MSFT Sortino Ratio Rank: 25
MSFT Omega Ratio Rank: 25
MSFT Calmar Ratio Rank: 33
MSFT Martin Ratio Rank: 33

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.

TENB vs. MSFT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tenable Holdings, Inc. (TENB) and Microsoft Corporation (MSFT). 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.

	TENB	MSFT	Difference
Sharpe ratio Return per unit of total volatility	-0.21	-0.28	+0.06
Sortino ratio Return per unit of downside risk	-0.01	-0.21	+0.21
Omega ratio Gain probability vs. loss probability	1.00	0.97	+0.03
Calmar ratio Return relative to maximum drawdown	-0.17	-0.21	+0.04
Martin ratio Return relative to average drawdown	-0.31	-0.44	+0.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TENB vs. MSFT - Sharpe Ratio Comparison

The current TENB Sharpe Ratio is -0.21, which is comparable to the MSFT Sharpe Ratio of -0.28. The chart below compares the historical Sharpe Ratios of TENB and MSFT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TENB	MSFT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.21	-0.28	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	0.46	-0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.93	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.75	-0.75

Drawdowns

TENB vs. MSFT - Drawdown Comparison

The maximum TENB drawdown since its inception was -74.40%, which is greater than MSFT's maximum drawdown of -69.38%. Use the drawdown chart below to compare losses from any high point for TENB and MSFT.

Drawdown Indicators

	TENB	MSFT	Difference
Max Drawdown Largest peak-to-trough decline	-74.40%	-69.38%	-5.02%
Max Drawdown (1Y) Largest decline over 1 year	-54.77%	-33.91%	-20.86%
Max Drawdown (3Y) Largest decline over 3 years	-69.09%	-33.91%	-35.18%
Max Drawdown (5Y) Largest decline over 5 years	-74.40%	-37.15%	-37.25%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.15%	—
Current Drawdown Current decline from peak	-52.62%	-20.67%	-31.95%
Average Drawdown Average peak-to-trough decline	-30.95%	-21.78%	-9.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.65%	15.95%	+13.70%

Volatility

TENB vs. MSFT - Volatility Comparison

Tenable Holdings, Inc. (TENB) has a higher volatility of 18.17% compared to Microsoft Corporation (MSFT) at 9.95%. This indicates that TENB's price experiences larger fluctuations and is considered to be riskier than MSFT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TENB	MSFT	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.17%	9.95%	+8.22%
Volatility (6M) Calculated over the trailing 6-month period	39.12%	22.34%	+16.78%
Volatility (1Y) Calculated over the trailing 1-year period	43.78%	25.12%	+18.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.36%	26.63%	+17.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.81%	27.04%	+20.77%

Dividends

TENB vs. MSFT - Dividend Comparison

TENB has not paid dividends to shareholders, while MSFT's dividend yield for the trailing twelve months is around 0.83%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSFT Microsoft Corporation	0.83%	0.70%	0.73%	0.74%	1.06%	0.68%	0.94%	1.20%	1.69%	1.86%	2.37%	2.33%
TENB Tenable Holdings, 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

TENB vs. MSFT - Profitability Comparison

The chart below illustrates the profitability comparison between Tenable Holdings, Inc. and Microsoft Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TENB - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Tenable Holdings, Inc. reported a gross profit of 205.39M and revenue of 262.06M. Therefore, the gross margin over that period was 78.4%.

MSFT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Microsoft Corporation reported a gross profit of 56.06B and revenue of 82.89B. Therefore, the gross margin over that period was 67.6%.

TENB - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Tenable Holdings, Inc. reported an operating income of 8.76M and revenue of 262.06M, resulting in an operating margin of 3.3%.

MSFT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Microsoft Corporation reported an operating income of 38.40B and revenue of 82.89B, resulting in an operating margin of 46.3%.

TENB - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Tenable Holdings, Inc. reported a net income of 1.41M and revenue of 262.06M, resulting in a net margin of 0.5%.

MSFT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Microsoft Corporation reported a net income of 31.78B and revenue of 82.89B, resulting in a net margin of 38.3%.

Frequently Asked Questions

Can I hold both TENB and MSFT in my portfolio?

TENB and MSFT have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TENB or MSFT?

TENB has higher volatility (18.17%) compared to MSFT (9.95%). In terms of maximum drawdown, TENB dropped -74.40% vs MSFT's -69.38%.

Which has better risk-adjusted returns?

TENB currently has the higher Sharpe Ratio (-0.21 vs -0.28), 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.