Confluent Correlations

CFLT Stock

USD 27.13 0.70 2.65%

The current 90-days correlation between Confluent and DigitalOcean Holdings is 0.35 (i.e., Weak 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

Weak diversification

The correlation between Confluent and DJI is 0.31 (i.e., Weak 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.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Confluent. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For more information on how to buy Confluent Stock please use our How to Invest in Confluent guide.

Moving together with Confluent Stock

0.69	S	SentinelOne	Pair Corr
0.81	NN	Nextnav Acquisition Corp Tech Boost	Pair Corr
0.72	SQ	Block Inc	Pair Corr
0.68	NET	Cloudflare	Pair Corr

Moving against Confluent Stock

0.66	VHAI	VHAI	Pair Corr
0.54	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.34	VRNT	Verint Systems	Pair Corr
0.33	VRAR	Glimpse Group	Pair Corr
0.63	TCX	Tucows Inc	Pair Corr

Related Correlations Analysis

	DOCN	DOCS	GTLB	GLBE	MNDY
DOCN		0.89	0.67	0.72	0.74	DOCN
DOCS	0.89		0.68	0.79	0.83	DOCS
GTLB	0.67	0.68		0.76	0.66	GTLB
GLBE	0.72	0.79	0.76		0.78	GLBE
MNDY	0.74	0.83	0.66	0.78		MNDY
	DOCN	DOCS	GTLB	GLBE	MNDY

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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	2.41	0.12	0.12	0.21	2.92	(2.73)	6.81	(4.36)	25.39
DOCS	1.79	0.73	0.38	1.53	0.93	(2.11)	2.88	(2.86)	42.30
GTLB	2.37	0.30	0.16	0.36	2.12	(2.76)	5.93	(3.61)	26.58
GLBE	1.68	0.15	0.08	0.31	1.88	(1.83)	4.15	(3.23)	11.36
MNDY	1.81	0.42	0.26	0.46	1.43	(2.25)	5.04	(2.71)	20.46

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

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