Confluent Correlations
| CFLT Stock | USD 28.88 0.35 1.23% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Confluent moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Confluent moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Modest diversification
The correlation between Confluent and NYA is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Confluent and NYA in the same portfolio, assuming nothing else is changed.
Confluent |
The ability to find closely correlated positions to Confluent could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Confluent when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Confluent - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Confluent to buy it.
Moving together with Confluent Stock
| 0.75 | DOCN | DigitalOcean Holdings Financial Report 14th of May 2024 | PairCorr |
| 0.69 | DTSS | Datasea | PairCorr |
| 0.71 | VRNS | Varonis Systems Financial Report 6th of May 2024 | PairCorr |
| 0.63 | VRNT | Verint Systems Financial Report 5th of June 2024 | PairCorr |
| 0.82 | EEFT | Euronet Worldwide Earnings Call This Week | PairCorr |
Moving against Confluent Stock
| 0.66 | JG | Aurora Mobile | PairCorr |
| 0.58 | DBX | Dropbox Financial Report 2nd of May 2024 | PairCorr |
| 0.52 | FIVN | Five9 Inc Earnings Call Next Week | PairCorr |
| 0.45 | VRSN | VeriSign Earnings Call Tomorrow | PairCorr |
| 0.44 | BB | BlackBerry Financial Report 26th of June 2024 | PairCorr |
| 0.44 | GEN | Gen Digital Financial Report 9th of May 2024 | PairCorr |
Related Correlations Analysis
| 0.3 | -0.01 | 0.06 | 0.76 | DOCN | ||
| 0.3 | 0.67 | 0.48 | 0.45 | DOCS | ||
| -0.01 | 0.67 | 0.62 | 0.33 | GTLB | ||
| 0.06 | 0.48 | 0.62 | 0.32 | GLBE | ||
| 0.76 | 0.45 | 0.33 | 0.32 | MNDY | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DOCN | 2.26 | (0.29) | 0.00 | (0.02) | 0.00 | 4.36 | 15.48 | |||
| DOCS | 1.55 | (0.45) | 0.00 | (0.20) | 0.00 | 3.07 | 11.27 | |||
| GTLB | 2.40 | (0.45) | 0.00 | (0.09) | 0.00 | 4.63 | 27.00 | |||
| GLBE | 2.31 | (0.26) | 0.00 | (0.06) | 0.00 | 4.55 | 21.75 | |||
| MNDY | 2.13 | (0.21) | 0.00 | (0.03) | 0.00 | 4.12 | 16.57 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Confluent without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Alpha Finder Now
Alpha FinderUse alpha and beta coefficients to find investment opportunities after accounting for the risk |
| All Next | Launch Module |
Confluent Corporate Management
Elected by the shareholders, the Confluent's board of directors comprises two types of representatives: Confluent inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Confluent. The board's role is to monitor Confluent's management team and ensure that shareholders' interests are well served. Confluent's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Confluent's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Melanie Vinson | Chief Officer | Profile | |
| Ying Liu | Chief Officer | Profile | |
| Gunjan Aggarwal | Chief Officer | Profile | |
| Shane Xie | Investor Officer | Profile | |
| Jun Rao | CoFounder | Profile | |
| Chad Verbowski | Chief Officer | Profile | |
| Steffan Tomlinson | Chief Officer | Profile |
Already Invested in Confluent?
The danger of trading Confluent is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Confluent is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Confluent. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Confluent is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Confluent is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Confluent Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Confluent Stock. Highlighted below are key reports to facilitate an investment decision about 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 tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis. For more information on how to buy Confluent Stock please use our How to Invest in Confluent guide.You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
Complementary Tools for Confluent Stock analysis
When running Confluent's price analysis, check to measure Confluent's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Confluent is operating at the current time. Most of Confluent's value examination focuses on studying past and present price action to predict the probability of Confluent's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Confluent's price. Additionally, you may evaluate how the addition of Confluent to your portfolios can decrease your overall portfolio volatility.
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years |
Is Confluent's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Confluent. If investors know Confluent will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Confluent listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (1.47) | Revenue Per Share 2.584 | Quarterly Revenue Growth 0.264 | Return On Assets (0.11) | Return On Equity (0.56) |
The market value of Confluent is measured differently than its book value, which is the value of Confluent that is recorded on the company's balance sheet. Investors also form their own opinion of Confluent's value that differs from its market value or its book value, called intrinsic value, which is Confluent's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Confluent's market value can be influenced by many factors that don't directly affect Confluent's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Confluent's value and its price as these two are different measures arrived at by different means. Investors typically determine if Confluent is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Confluent's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.