Power-spectrum analyses have been carried out on two data sets of the geomagnetic K-index from the Athens and Sofia magnetic Observatories. For the period between 19561984, periodicities of about 2.8 and 6 months have been obtained. Similar results were found by the auto-correlation technique. Both periods are significant to 0.05 and 0.01 level, respectively. In our attempt to explain transient geomagnetic disturbances caused by other parameters, the K-index was correlated to cosmic-ray and aurora intensity. The best correlation coefficient between K-variations and cosmic-ray data from Athens Neutron-Monitor Station was 0.58 and between K-index and Auroral,activity index was 0.47.An attempt to interpret these periodicities and relationships has been made.