Confluent Correlations

CFLT Stock

USD 30.70 0.02 0.07%

The current 90-days correlation between Confluent and Dropbox is -0.03 (i.e., Good 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 0.82 (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

0.67	NN	Nextnav Acquisition Corp	Pair Corr
0.74	RNI	OXFORD METRICS LS	Pair Corr
0.78	TRB	Tribal Group plc	Pair Corr

Moving against Confluent Stock

0.78	DOMO	Domo Inc Buyout Trend	Pair Corr
0.74	1Q5	Dropbox	Pair Corr
0.68	VS	Versus Systems	Pair Corr
0.61	2TY	PagerDuty	Pair Corr
0.5	DT	Dynatrace Holdings LLC	Pair Corr
0.5	PD	Pagerduty	Pair Corr
0.49	WK	Workiva	Pair Corr
0.42	DMRC	Digimarc	Pair Corr
0.39	DOCU	DocuSign	Pair Corr
0.33	BL	Blackline	Pair Corr
0.32	MQ	Marqeta	Pair Corr
0.76	NCC	NCC Group plc	Pair Corr
0.73	IOM	iomart Group plc	Pair Corr
0.72	ARC	Arcontech Group Plc Earnings Call This Week	Pair Corr
0.64	VTEX	VTEX	Pair Corr
0.59	AN5	Alpha Systems	Pair Corr
0.58	BRF	IRESS LTD Earnings Call This Week	Pair Corr
0.58	CYR	Cyan AG	Pair Corr
0.57	SORT	Sorted Group Holdings	Pair Corr

Related Correlations Analysis

	DBX	WIX	KVYO	BLSH	PATH	CORZ	INFA	DOX	NICE	TTAN
DBX		0.83	0.76	0.78	0.43	-0.56	-0.13	0.17	-0.04	0.63	DBX
WIX	0.83		0.85	0.67	0.62	-0.57	-0.19	0.37	0.22	0.74	WIX
KVYO	0.76	0.85		0.81	0.81	-0.48	0.12	0.57	0.17	0.93	KVYO
BLSH	0.78	0.67	0.81		0.73	-0.3	-0.06	0.35	-0.03	0.83	BLSH
PATH	0.43	0.62	0.81	0.73		-0.15	0.1	0.63	0.24	0.9	PATH
CORZ	-0.56	-0.57	-0.48	-0.3	-0.15		0.15	0.14	0.07	-0.31	CORZ
INFA	-0.13	-0.19	0.12	-0.06	0.1	0.15		0.42	0.16	0.14	INFA
DOX	0.17	0.37	0.57	0.35	0.63	0.14	0.42		0.46	0.71	DOX
NICE	-0.04	0.22	0.17	-0.03	0.24	0.07	0.16	0.46		0.22	NICE
TTAN	0.63	0.74	0.93	0.83	0.9	-0.31	0.14	0.71	0.22		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

TTAN	+ 0.93	KVYO
TTAN	+ 0.9	PATH
KVYO	+ 0.85	WIX
WIX	+ 0.83	DBX
TTAN	+ 0.83	BLSH
BLSH	+ 0.81	KVYO

High negative correlations

CORZ	- 0.57	WIX
CORZ	- 0.56	DBX
CORZ	- 0.48	KVYO
TTAN	- 0.31	CORZ
CORZ	- 0.3	BLSH
INFA	- 0.19	WIX

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	1.21	(0.30)	0.00	(0.45)	0.00	0.00	2.53	(2.45)	10.35
WIX	2.50	(0.93)	0.00	(1.40)	0.00	0.00	5.16	(4.83)	22.04
KVYO	2.87	(0.57)	0.00	1.09	0.00	0.00	4.30	(9.11)	18.32
BLSH	3.21	(0.35)	0.00	(0.10)	0.00	0.00	7.51	(5.94)	17.29
PATH	3.14	(0.24)	0.00	1.50	0.00	0.00	6.71	(6.09)	34.09
CORZ	3.32	0.17	0.06	0.16	3.50	(3.96)	7.30	(7.56)	18.78
INFA	0.09	(0.01)	(0.46)	6.85	0.12	(0.11)	0.16	(0.16)	1.08
DOX	1.15	(0.21)	0.00	(0.14)	0.00	0.00	1.60	(2.64)	10.32
NICE	2.06	(0.25)	0.00	(0.10)	0.00	0.00	3.38	(4.76)	13.49
TTAN	2.62	(0.43)	0.00	(0.70)	0.00	0.00	4.54	(6.06)	21.98

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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