Cloudflare Correlations

NET Stock

USD 99.83 0.46 0.46%

The current 90-days correlation between Cloudflare and GigaCloud Technology Class is 0.01 (i.e., Significant 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

Very weak diversification

The correlation between Cloudflare and DJI is 0.48 (i.e., Very weak 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

0.93	S	SentinelOne	Pair Corr
0.81	NN	Nextnav Acquisition Corp	Pair Corr
0.89	SQ	Block Inc Sell-off Trend	Pair Corr
0.86	ZS	Zscaler	Pair Corr
0.76	EVCM	EverCommerce	Pair Corr
0.63	EVTC	Evertec	Pair Corr
0.69	CETXP	Cemtrex Pref	Pair Corr
0.82	FFIV	F5 Networks	Pair Corr
0.78	FIVN	Five9 Inc	Pair Corr
0.7	FLYW	Flywire Corp	Pair Corr
0.93	FOUR	Shift4 Payments	Pair Corr
0.89	DBX	Dropbox	Pair Corr
0.75	DLO	Dlocal	Pair Corr
0.85	GEN	Gen Digital	Pair Corr
0.82	FTNT	Fortinet	Pair Corr
0.82	IOT	Samsara	Pair Corr
0.85	PAY	Paymentus Holdings	Pair Corr

Moving against Cloudflare Stock

0.66	VRAR	Glimpse Group	Pair Corr
0.57	FAAS	DigiAsia Corp Symbol Change	Pair Corr
0.56	MQ	Marqeta Potential Growth	Pair Corr
0.51	VHAI	VHAI	Pair Corr
0.43	VRNT	Verint Systems Earnings Call This Week	Pair Corr
0.86	VHC	VirnetX Holding Corp	Pair Corr
0.8	TCX	Tucows Inc	Pair Corr
0.33	PGY	Pagaya Technologies Tech Boost	Pair Corr

Related Correlations Analysis

	PANW	GCT	PGY	TLS	CETX	PATH	S
PANW		0.44	-0.17	0.36	-0.76	0.67	0.87	PANW
GCT	0.44		-0.29	0.31	-0.79	0.35	0.54	GCT
PGY	-0.17	-0.29		0.46	0.4	-0.02	-0.23	PGY
TLS	0.36	0.31	0.46		-0.31	0.21	0.32	TLS
CETX	-0.76	-0.79	0.4	-0.31		-0.39	-0.8	CETX
PATH	0.67	0.35	-0.02	0.21	-0.39		0.71	PATH
S	0.87	0.54	-0.23	0.32	-0.8	0.71		S
	PANW	GCT	PGY	TLS	CETX	PATH	S

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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

S	+ 0.87	PANW
S	+ 0.71	PATH
PATH	+ 0.67	PANW
S	+ 0.54	GCT
TLS	+ 0.46	PGY
GCT	+ 0.44	PANW

High negative correlations

S	- 0.8	CETX
CETX	- 0.79	GCT
CETX	- 0.76	PANW
PATH	- 0.39	CETX
CETX	- 0.31	TLS
PGY	- 0.29	GCT

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	1.40	0.00	0.02	0.13	1.89	(1.39)	2.45	(3.03)	9.85
GCT	4.73	0.33	0.07	0.36	4.69	(5.52)	9.70	(7.70)	30.15
PGY	4.96	(0.53)	(0.01)	0.01	9.25	(4.47)	11.41	(8.48)	51.11
TLS	2.99	0.00	0.02	0.12	3.66	(3.10)	7.85	(5.90)	25.89
CETX	8.42	(5.65)	0.00	26.48	0.00	0.00	8.73	(33.92)	75.61
PATH	1.89	(0.06)	0.03	0.10	2.49	(1.95)	4.52	(3.82)	12.04
S	1.99	0.04	0.04	0.15	2.02	(2.28)	5.09	(3.63)	12.03

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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