Cloudflare Correlations

NET Stock

USD 143.14 4.86 3.28%

The current 90-days correlation between Cloudflare and Zscaler is 0.61 (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 0.06 (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.

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

0.9	BB	BlackBerry	Pair Corr
0.83	JG	Aurora Mobile	Pair Corr
0.79	DOCN	DigitalOcean Holdings Buyout Trend	Pair Corr
0.88	VRSN	VeriSign	Pair Corr
0.95	FFIV	F5 Networks	Pair Corr
0.69	DBX	Dropbox	Pair Corr
0.89	DLO	Dlocal	Pair Corr
0.92	FTNT	Fortinet	Pair Corr
0.74	PGY	Pagaya Technologies Downward Rally	Pair Corr

Moving against Cloudflare Stock

0.69	NN	Nextnav Acquisition Corp Downward Rally	Pair Corr
0.69	VRNS	Varonis Systems	Pair Corr
0.49	EVTC	Evertec Earnings Call Tomorrow	Pair Corr
0.45	EVCM	EverCommerce	Pair Corr
0.37	MQ	Marqeta Earnings Call Tomorrow	Pair Corr
0.36	EEFT	Euronet Worldwide	Pair Corr
0.35	DTSS	Datasea	Pair Corr
0.8	FMTO	Femto Technologies Symbol Change	Pair Corr
0.49	FLYW	Flywire Corp	Pair Corr
0.47	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.46	GEN	Gen Digital	Pair Corr
0.73	RPD	Rapid7 Inc	Pair Corr
0.71	WEX	Wex Inc Buyout Trend	Pair Corr
0.63	SOS	SOS Limited	Pair Corr
0.55	TDC	Teradata Corp	Pair Corr
0.54	PAY	Paymentus Holdings	Pair Corr

Related Correlations Analysis

	PANW	ZS	OKTA	ADBE	CRWD	MDB	SPLK	PLTR
PANW		0.67	0.03	0.64	0.32	0.64	0.0	0.26	PANW
ZS	0.67		0.32	0.58	0.57	0.81	0.0	0.41	ZS
OKTA	0.03	0.32		-0.41	0.88	-0.07	0.0	0.84	OKTA
ADBE	0.64	0.58	-0.41		-0.22	0.84	0.0	-0.27	ADBE
CRWD	0.32	0.57	0.88	-0.22		0.13	0.0	0.92	CRWD
MDB	0.64	0.81	-0.07	0.84	0.13		0.0	-0.01	MDB
SPLK	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SPLK
PLTR	0.26	0.41	0.84	-0.27	0.92	-0.01	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	+ 0.92	CRWD
CRWD	+ 0.88	OKTA
PLTR	+ 0.84	OKTA
MDB	+ 0.84	ADBE
MDB	+ 0.81	ZS
ZS	+ 0.67	PANW

High negative correlations

ADBE	- 0.41	OKTA
PLTR	- 0.27	ADBE
CRWD	- 0.22	ADBE
MDB	- 0.07	OKTA
PLTR	- 0.01	MDB
PLTR	- 0.0	SPLK

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	1.59	(0.04)	0.00	(0.36)	0.00	0.00	3.05	(3.90)	9.25
ZS	1.74	(0.01)	0.00	(0.03)	0.00	0.00	3.24	(3.79)	11.25
OKTA	1.60	0.33	0.18	0.52	1.59	(1.83)	4.24	(2.56)	10.08
ADBE	1.24	(0.17)	0.00	(0.27)	0.00	0.00	2.31	(2.37)	17.61
CRWD	2.03	0.26	0.09	0.19	2.46	(2.12)	4.40	(3.68)	16.10
MDB	2.36	(0.01)	0.00	(0.01)	0.00	0.00	5.34	(4.69)	28.87
SPLK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PLTR	3.51	0.61	0.14	0.38	3.88	(3.89)	6.88	(6.86)	34.07

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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