Confluent Correlations
| CFLT Stock | USD 23.26 1.49 6.84% |
The current 90-days correlation between Confluent and DigitalOcean Holdings is 0.63 (i.e., Poor diversification). The correlation of Confluent is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
Confluent Correlation With Market
Significant diversification
The correlation between Confluent and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Confluent and DJI in the same portfolio, assuming nothing else is changed.
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Moving together with Confluent Stock
| 0.86 | S | SentinelOne | PairCorr |
| 0.94 | BB | BlackBerry Aggressive Push | PairCorr |
| 0.94 | DOCN | DigitalOcean Holdings | PairCorr |
| 0.82 | VERI | Veritone | PairCorr |
| 0.65 | DTSS | Datasea | PairCorr |
| 0.75 | VRAR | Glimpse Group | PairCorr |
| 0.64 | VRNS | Varonis Systems | PairCorr |
| 0.9 | VRNT | Verint Systems | PairCorr |
| 0.79 | FAAS | DigiAsia Corp | PairCorr |
| 0.88 | FFIV | F5 Networks Earnings Call This Week | PairCorr |
| 0.9 | FIVN | Five9 Inc Earnings Call This Week | PairCorr |
| 0.75 | FLYW | Flywire Corp | PairCorr |
| 0.79 | FMTO | Femto Technologies Symbol Change | PairCorr |
| 0.9 | BOX | Box Inc | PairCorr |
| 0.8 | FOUR | Shift4 Payments | PairCorr |
| 0.81 | DLO | Dlocal | PairCorr |
| 0.82 | GCT | GigaCloud Technology | PairCorr |
| 0.79 | GEN | Gen Digital | PairCorr |
| 0.84 | FTNT | Fortinet | PairCorr |
| 0.88 | IOT | Samsara | PairCorr |
| 0.88 | MDB | MongoDB | PairCorr |
| 0.92 | NET | Cloudflare Earnings Call This Week | PairCorr |
| 0.66 | PGY | Pagaya Technologies Tech Boost | PairCorr |
Moving against Confluent Stock
| 0.54 | VRSN | VeriSign Buyout Trend | PairCorr |
| 0.5 | GB | Global Blue Group | PairCorr |
| 0.47 | SWI | SolarWinds Corp Earnings Call This Week | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Confluent Stock performing well and Confluent Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Confluent's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DOCN | 3.35 | (0.28) | 0.00 | 0.70 | 0.00 | 6.02 | 26.36 | |||
| DOCS | 3.08 | 0.13 | 0.07 | (1.20) | 3.71 | 4.93 | 45.86 | |||
| GTLB | 3.37 | (0.46) | 0.00 | 6.12 | 0.00 | 6.41 | 24.34 | |||
| GLBE | 3.03 | (0.57) | 0.00 | (7.39) | 0.00 | 4.52 | 26.22 | |||
| MNDY | 3.59 | 0.25 | 0.09 | 2.73 | 4.18 | 7.70 | 38.83 |
Confluent Corporate Management
| Kong Phan | Chief Officer | Profile | |
| Melanie Vinson | Chief Officer | Profile | |
| Shaun Clowes | Chief Officer | Profile | |
| Colleen McCreary | Chief Officer | Profile | |
| Ying Liu | Chief Officer | Profile | |
| Gunjan Aggarwal | Chief Officer | Profile | |
| Shane Xie | Investor Officer | Profile |