Yes. There are a lot of penalties and algortihm updates that Google might do. Some of them refer to OnPage factors and some to OffPage factors.
If you were affected by an algorithm update or manual penalty that tackles with OffPage factors ( unnatural links for example) than cognitiveSEO is the wright tool to use.
The cognitiveSEO toolset has an Unnatural Link Detection tool included that allows you to find and disavow the links that are unnatural. This works both for your site and you competitors.
The Unnatural Link Detection Tool is found in the inBound Link Analysis module under in the Unnatural Link Detection widget.
Read more about this here.