Confluent Correlations

CFLT Stock

USD 30.24 0.11 0.37%

The current 90-days correlation between Confluent and Dropbox is 0.08 (i.e., Significant 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

Average diversification

The correlation between Confluent and DJI is 0.14 (i.e., Average 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.

Build AI portfolio with Confluent Stock

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 board of governors.

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

Moving together with Confluent Stock

0.78	ZM	Zoom Video Communications Sell-off Trend	Pair Corr
0.74	CRM	Salesforce	Pair Corr
0.84	MGIC	Magic Software Enter	Pair Corr
0.74	RDZN	Roadzen Tech Boost	Pair Corr
0.77	ASUR	Asure Software Tech Boost	Pair Corr
0.61	USDC	USDATA Corp	Pair Corr
0.72	PUTKY	United Tractors Tbk	Pair Corr
0.66	CASXF	Casa Minerals	Pair Corr
0.81	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.8	FTV	Fortive Corp	Pair Corr
0.69	MCD	McDonalds	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr

Moving against Confluent Stock

0.75	ALAR	Alarum Technologies Tech Boost	Pair Corr
0.74	UPLD	Upland Software	Pair Corr
0.63	TTD	Trade Desk Aggressive Push	Pair Corr
0.5	RXT	Rackspace Technology	Pair Corr
0.49	PTAIF	PT Astra International	Pair Corr
0.47	JG	Aurora Mobile	Pair Corr
0.46	DDOG	Datadog	Pair Corr
0.45	SAP	SAP SE ADR	Pair Corr
0.41	CLSK	CleanSpark	Pair Corr
0.77	PG	Procter Gamble	Pair Corr
0.74	T	ATT Inc Aggressive Push	Pair Corr
0.65	PIFMY	Indofood Sukses Makmur Upward Rally	Pair Corr
0.46	HPQ	HP Inc	Pair Corr
0.44	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	DBX	WIX	KVYO	BLSH	PATH	CORZ	INFA	DOX	NICE	TTAN
DBX		0.35	-0.16	0.12	-0.56	0.12	0.08	-0.08	0.28	-0.53	DBX
WIX	0.35		-0.53	0.75	-0.26	0.63	-0.37	0.68	0.94	-0.06	WIX
KVYO	-0.16	-0.53		-0.6	0.17	-0.59	0.01	-0.3	-0.57	0.5	KVYO
BLSH	0.12	0.75	-0.6		0.05	0.53	-0.31	0.57	0.78	0.17	BLSH
PATH	-0.56	-0.26	0.17	0.05		0.1	0.12	0.13	-0.16	0.61	PATH
CORZ	0.12	0.63	-0.59	0.53	0.1		-0.19	0.69	0.64	-0.16	CORZ
INFA	0.08	-0.37	0.01	-0.31	0.12	-0.19		-0.45	-0.33	-0.3	INFA
DOX	-0.08	0.68	-0.3	0.57	0.13	0.69	-0.45		0.74	0.25	DOX
NICE	0.28	0.94	-0.57	0.78	-0.16	0.64	-0.33	0.74		-0.04	NICE
TTAN	-0.53	-0.06	0.5	0.17	0.61	-0.16	-0.3	0.25	-0.04		TTAN
	DBX	WIX	KVYO	BLSH	PATH	CORZ	INFA	DOX	NICE	TTAN

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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

NICE	+ 0.94	WIX
NICE	+ 0.78	BLSH
BLSH	+ 0.75	WIX
NICE	+ 0.74	DOX
DOX	+ 0.69	CORZ
DOX	+ 0.68	WIX

High negative correlations

BLSH	- 0.6	KVYO
CORZ	- 0.59	KVYO
NICE	- 0.57	KVYO
PATH	- 0.56	DBX
KVYO	- 0.53	WIX
TTAN	- 0.53	DBX

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
DBX	1.43	(0.17)	0.00	(0.21)	0.00	0.00	2.57	(2.46)	15.22
WIX	2.38	(0.80)	0.00	(1.11)	0.00	0.00	5.16	(4.28)	27.47
KVYO	2.09	0.03	0.01	0.08	3.13	(2.18)	5.07	(4.65)	12.79
BLSH	3.51	(0.81)	0.00	(0.22)	0.00	0.00	6.14	(8.10)	21.52
PATH	3.48	0.45	0.12	0.33	3.66	(3.99)	7.52	(7.23)	31.59
CORZ	3.15	(0.24)	0.00	(0.21)	0.00	0.00	6.92	(7.56)	17.30
INFA	0.09	(0.01)	(0.33)	0.50	0.12	(0.11)	0.16	(0.16)	1.08
DOX	0.86	(0.02)	(0.03)	0.00	1.75	(0.80)	1.38	(1.47)	10.60
NICE	1.74	(0.42)	0.00	(0.33)	0.00	0.00	2.26	(3.86)	18.80
TTAN	1.65	0.03	0.01	0.08	1.98	(1.73)	3.19	(3.27)	12.35

Confluent Corporate Management

Addison Huddy	VP Streaming	Profile
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

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