Confluent Correlations

CFLT Stock

USD 30.54 0.03 0.1%

The current 90-days correlation between Confluent and Dropbox is 0.02 (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

Very poor diversification

The correlation between Confluent and DJI is 0.84 (i.e., Very poor 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

0.7	U	Unity Software	Pair Corr
0.76	TTGI	Turnium Technology	Pair Corr
0.73	DAY	Dayforce	Pair Corr
0.73	GLOB	Globant SA Downward Rally	Pair Corr
0.85	IAM	Income Asset Management	Pair Corr
0.87	MGIC	Magic Software Enter	Pair Corr

Moving against Confluent Stock

0.64	YEXT	Yext Inc	Pair Corr
0.61	STC	Sangoma Technologies Corp Earnings Call This Week	Pair Corr
0.59	WALD	Waldencast Acquisition	Pair Corr
0.58	BOX	Box Inc	Pair Corr
0.48	ESTC	Elastic NV	Pair Corr
0.42	SAP	SAP SE ADR	Pair Corr
0.37	GRRR	Gorilla Technology Buyout Trend	Pair Corr
0.33	FUFU	BitFuFu Class A	Pair Corr
0.85	ID	Identillect Technologies	Pair Corr
0.84	HSN	Hansen Technologies	Pair Corr
0.77	ALFA	Alfa Financial Software	Pair Corr
0.75	GWRE	Guidewire Software	Pair Corr
0.75	ERD	Eroad	Pair Corr
0.72	TNE	Technology One	Pair Corr
0.69	EVPL	Everplay Group PLC	Pair Corr
0.67	OVT	Oculus VisionTech	Pair Corr
0.76	MHUB	Minehub Technologies	Pair Corr
0.66	EXT	Excite Technology	Pair Corr
0.6	NBVA	Nubeva Technologies	Pair Corr
0.57	VR1	Vection Technologies	Pair Corr
0.57	MNDY	MondayCom	Pair Corr
0.56	OTEX	Open Text Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DBX	WIX	KVYO	BLSH	PATH	CORZ	INFA	DOX	NICE	TTAN
DBX		0.63	0.3	0.51	-0.16	-0.11	-0.43	-0.45	0.22	-0.27	DBX
WIX	0.63		0.03	0.7	0.01	0.42	-0.39	0.18	0.78	-0.04	WIX
KVYO	0.3	0.03		0.11	0.45	-0.6	-0.29	-0.28	-0.27	0.59	KVYO
BLSH	0.51	0.7	0.11		0.41	0.41	-0.23	0.13	0.53	0.19	BLSH
PATH	-0.16	0.01	0.45	0.41		-0.02	-0.03	0.15	0.0	0.78	PATH
CORZ	-0.11	0.42	-0.6	0.41	-0.02		0.11	0.64	0.63	-0.2	CORZ
INFA	-0.43	-0.39	-0.29	-0.23	-0.03	0.11		0.34	-0.02	0.09	INFA
DOX	-0.45	0.18	-0.28	0.13	0.15	0.64	0.34		0.6	0.27	DOX
NICE	0.22	0.78	-0.27	0.53	0.0	0.63	-0.02	0.6		-0.01	NICE
TTAN	-0.27	-0.04	0.59	0.19	0.78	-0.2	0.09	0.27	-0.01		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	+ 0.78	WIX
TTAN	+ 0.78	PATH
BLSH	+ 0.7	WIX
DOX	+ 0.64	CORZ
WIX	+ 0.63	DBX
NICE	+ 0.63	CORZ

High negative correlations

CORZ	- 0.6	KVYO
DOX	- 0.45	DBX
INFA	- 0.43	DBX
INFA	- 0.39	WIX
INFA	- 0.29	KVYO
DOX	- 0.28	KVYO

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	1.33	(0.21)	0.00	(0.46)	0.00	0.00	2.53	(2.46)	15.22
WIX	2.40	(0.65)	0.00	(0.92)	0.00	0.00	5.78	(4.31)	27.47
KVYO	2.43	(0.22)	0.00	(0.38)	0.00	0.00	4.71	(5.68)	16.84
BLSH	3.24	(0.82)	0.00	(0.29)	0.00	0.00	5.75	(6.26)	15.46
PATH	3.06	(0.30)	0.00	(0.18)	0.00	0.00	6.69	(7.07)	31.73
CORZ	3.18	(0.02)	(0.01)	0.03	3.92	(3.42)	6.92	(7.56)	16.53
INFA	0.06	(0.03)	0.00	(18.14)	0.00	0.00	0.12	(0.36)	0.40
DOX	0.92	(0.06)	0.00	(0.07)	0.00	0.00	1.50	(1.79)	8.96
NICE	1.73	(0.33)	0.00	(0.26)	0.00	0.00	3.22	(3.81)	18.80
TTAN	1.94	(0.07)	0.00	0.41	0.00	0.00	3.59	(4.54)	17.57

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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