Cloudflare Correlations

NET Stock

USD 220.95 0.95 0.43%

The current 90-days correlation between Cloudflare and Crowdstrike Holdings is 0.59 (i.e., Very weak 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

Average diversification

The correlation between Cloudflare and DJI is 0.12 (i.e., Average 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 national income and product accounts.

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

Moving together with Cloudflare Stock

0.7	ZM	Zoom Video Communications	Pair Corr
0.66	GWRE	Guidewire Software	Pair Corr
0.64	HTCR	HeartCore Enterprises	Pair Corr
0.86	PHX	Pharmx Technologies	Pair Corr
0.82	VR1	Vection Technologies	Pair Corr

Moving against Cloudflare Stock

0.75	MRT	Marti Technologies	Pair Corr
0.65	JG	Aurora Mobile	Pair Corr
0.59	TTD	Trade Desk Aggressive Push	Pair Corr
0.56	CALSOFT	California Software	Pair Corr
0.53	CRM	Salesforce	Pair Corr
0.49	EXFY	Expensify	Pair Corr
0.76	RDY	Readytech Holdings	Pair Corr
0.75	MSTR	MicroStrategy Incorporated	Pair Corr
0.58	INTU	Intuit Inc	Pair Corr
0.58	TNE	Technology One	Pair Corr
0.57	INUV	Inuvo Inc	Pair Corr
0.56	CRM	SalesforceCom CDR	Pair Corr
0.56	NVQ	Noviqtech	Pair Corr
0.54	MNDY	MondayCom	Pair Corr
0.5	MGIC	Magic Software Enter	Pair Corr
0.48	NEWGEN	Newgen Software Tech Earnings Call This Week	Pair Corr
0.78	WTC	Wisetech Global	Pair Corr
0.63	NUCLEUS	Nucleus Software Exports	Pair Corr
0.54	PAYC	Paycom Soft	Pair Corr
0.39	EXT	Excite Technology	Pair Corr
0.38	DAVEW	Dave Warrants	Pair Corr
0.37	NICE	Nice Ltd ADR	Pair Corr

Related Correlations Analysis

	CRWD	ZS	OKTA	PATH	MDB	DDOG	FSLY	SNOW
CRWD		0.91	0.41	0.83	0.13	0.73	0.42	0.52	CRWD
ZS	0.91		0.43	0.85	0.23	0.78	0.42	0.62	ZS
OKTA	0.41	0.43		0.28	-0.24	0.52	-0.25	0.16	OKTA
PATH	0.83	0.85	0.28		0.27	0.84	0.45	0.64	PATH
MDB	0.13	0.23	-0.24	0.27		0.31	0.79	0.77	MDB
DDOG	0.73	0.78	0.52	0.84	0.31		0.35	0.72	DDOG
FSLY	0.42	0.42	-0.25	0.45	0.79	0.35		0.61	FSLY
SNOW	0.52	0.62	0.16	0.64	0.77	0.72	0.61		SNOW
	CRWD	ZS	OKTA	PATH	MDB	DDOG	FSLY	SNOW

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

ZS	+ 0.91	CRWD
PATH	+ 0.85	ZS
DDOG	+ 0.84	PATH
PATH	+ 0.83	CRWD
FSLY	+ 0.79	MDB
DDOG	+ 0.78	ZS

High negative correlations

FSLY	- 0.25	OKTA
MDB	- 0.24	OKTA

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
CRWD	1.62	(0.05)	(0.02)	0.03	2.00	(1.82)	2.50	(2.88)	15.11
ZS	1.47	(0.06)	(0.03)	0.02	1.96	(1.60)	2.79	(2.44)	8.42
OKTA	1.65	(0.17)	0.00	(0.05)	0.00	0.00	3.52	(3.52)	7.88
PATH	2.23	0.17	0.10	0.18	2.02	(2.74)	5.90	(3.30)	15.34
MDB	2.72	0.67	0.25	0.46	2.41	(3.21)	4.24	(3.72)	41.62
DDOG	1.91	0.13	0.06	0.21	1.96	(2.22)	4.45	(3.68)	10.04
FSLY	2.73	0.16	0.08	0.15	2.90	(2.95)	5.69	(4.56)	20.72
SNOW	2.00	0.15	0.06	0.23	2.34	(2.27)	3.77	(3.37)	24.62

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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