Cloudflare Correlations

NET Stock

USD 179.67 3.34 1.89%

The current 90-days correlation between Cloudflare and Palo Alto Networks is 0.77 (i.e., Poor diversification). The correlation of Cloudflare 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.

Cloudflare Correlation With Market

Significant diversification

The correlation between Cloudflare and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cloudflare and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cloudflare Stock

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

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

Moving together with Cloudflare Stock

0.84	AI	C3 Ai Inc	Pair Corr
0.92	MQ	Marqeta Earnings Call This Week	Pair Corr
0.91	ZS	Zscaler	Pair Corr
0.67	DTSS	Datasea	Pair Corr
0.87	VRAR	Glimpse Group	Pair Corr
0.92	VRNS	Varonis Systems	Pair Corr
0.63	VRSN	VeriSign	Pair Corr
0.65	EEFT	Euronet Worldwide	Pair Corr
0.61	FAAS	DigiAsia Corp	Pair Corr
0.71	FLYW	Flywire Corp Potential Growth	Pair Corr
0.8	BOX	Box Inc	Pair Corr
0.81	FOUR	Shift4 Payments	Pair Corr
0.66	DBX	Dropbox Sell-off Trend	Pair Corr
0.9	DLO	Dlocal	Pair Corr
0.72	DOX	Amdocs	Pair Corr
0.79	GEN	Gen Digital	Pair Corr
0.66	FTNT	Fortinet	Pair Corr
0.92	IOT	Samsara	Pair Corr
0.85	ODD	ODDITY Tech	Pair Corr
0.81	PAY	Paymentus Holdings	Pair Corr
0.94	PGY	Pagaya Technologies	Pair Corr

Moving against Cloudflare Stock

0.66	VERI	Veritone	Pair Corr
0.42	EXOD	Exodus Movement,	Pair Corr

Related Correlations Analysis

	PANW	ZS	OKTA	ADBE	CRWD	MDB	SPLK	PLTR
PANW		0.78	0.76	0.66	0.74	0.62	0.0	0.73	PANW
ZS	0.78		0.44	0.45	0.9	0.33	0.0	0.89	ZS
OKTA	0.76	0.44		0.58	0.44	0.48	0.0	0.51	OKTA
ADBE	0.66	0.45	0.58		0.27	0.8	0.0	0.28	ADBE
CRWD	0.74	0.9	0.44	0.27		0.22	0.0	0.96	CRWD
MDB	0.62	0.33	0.48	0.8	0.22		0.0	0.17	MDB
SPLK	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SPLK
PLTR	0.73	0.89	0.51	0.28	0.96	0.17	0.0		PLTR
	PANW	ZS	OKTA	ADBE	CRWD	MDB	SPLK	PLTR

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PLTR	+ 0.96	CRWD
CRWD	+ 0.9	ZS
PLTR	+ 0.89	ZS
MDB	+ 0.8	ADBE
ZS	+ 0.78	PANW
OKTA	+ 0.76	PANW

High negative correlations

PLTR	- 0.0	SPLK
SPLK	- 0.0	MDB
SPLK	- 0.0	CRWD
SPLK	- 0.0	ADBE
SPLK	- 0.0	OKTA
SPLK	- 0.0	ZS

Risk-Adjusted Indicators

There is a big difference between Cloudflare Stock performing well and Cloudflare 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 Cloudflare'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
PANW	1.89	0.13	0.04	(2.74)	2.74	(1.73)	3.51	(4.63)	20.23
ZS	2.17	0.71	0.21	(5.72)	2.70	(2.37)	4.76	(4.21)	17.84
OKTA	2.40	0.00	0.00	(0.01)	4.00	(2.41)	5.55	(5.59)	27.47
ADBE	1.58	(0.09)	0.00	(0.09)	0.00	0.00	3.07	(4.00)	14.99
CRWD	2.93	0.32	0.09	(3.45)	3.45	(3.09)	6.38	(6.34)	22.07
MDB	2.97	(0.05)	0.00	0.26	0.00	0.00	7.32	(5.62)	30.77
SPLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PLTR	3.90	0.66	0.12	(1.40)	4.87	(4.01)	7.85	(10.05)	31.05

Cloudflare Corporate Management

Paul Underwood	Chief Officer	Profile
Lee Holloway	Co-Founder	Profile
Darth SriBear	Systems Reliability Engineer	Profile
John	Chief Officer	Profile
Douglas JD	Chief Secretary	Profile

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