CFLT vs. SPY

Last updated Jun 25, 2026

CFLT (Confluent, Inc.) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

CFLT vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Confluent, Inc. (CFLT) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CFLT

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: -0.05%
• 1M: -1.41%
• YTD: 8.10%
• 6M: 6.77%
• 1Y: 22.18%
• 3Y*: 20.66%
• 5Y*: 12.96%
• 10Y*: 15.53%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CFLT vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CFLT Confluent, Inc.	2.48%	8.15%	19.49%	5.22%	-70.83%	73.27%
SPY State Street SPDR S&P 500 ETF	8.10%	17.72%	24.89%	26.18%	-18.18%	13.15%

Correlation

The correlation between CFLT and SPY is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jun 24, 2021	0.51

Over the past year, the correlation between CFLT and SPY has dropped to 0.25 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

Return for Risk

CFLT vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CFLT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPY

SPY Risk / Return Rank: 60
SPY Sharpe Ratio Rank: 59
SPY Sortino Ratio Rank: 57
SPY Omega Ratio Rank: 59
SPY Calmar Ratio Rank: 57
SPY Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CFLT vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Confluent, Inc. (CFLT) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CFLT	SPY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.79	—
Sortino ratio: Return per unit of downside risk	—	2.45	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	2.51	—
Martin ratio: Return relative to average drawdown	—	11.15	—

Drawdowns

Drawdown Indicators

	CFLT	SPY	Difference
Max Drawdown Largest peak-to-trough decline	—	-55.19%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.88%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	—	-3.22%	—
Average Drawdown Average peak-to-trough decline	—	-9.03%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.99%	—

Volatility

Volatility by Period

	CFLT	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.85%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.81%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	12.47%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.15%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	17.95%	—

Dividends

CFLT vs. SPY - Dividend Comparison

CFLT has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CFLT Confluent, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.03%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both CFLT and SPY in my portfolio?

CFLT and SPY have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.