DBX vs. CFLT

Last updated Jun 5, 2026

DBX (Dropbox, Inc.) and CFLT (Confluent, Inc.) are both stocks. Both operate in the Software - Infrastructure industry within the Technology sector. At a 0.46 correlation, their price movements are largely independent.

Performance

DBX vs. CFLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dropbox, Inc. (DBX) and Confluent, Inc. (CFLT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DBX

• 1D: -1.41%
• 1M: 7.04%
• YTD: -2.16%
• 6M: -8.66%
• 1Y: -6.85%
• 3Y*: 4.36%
• 5Y*: -0.93%
• 10Y*: —

CFLT

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

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

DBX vs. CFLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DBX Dropbox, Inc.	-2.16%	-7.46%	1.90%	31.72%	-8.80%	-17.76%
CFLT Confluent, Inc.	2.48%	8.15%	19.49%	5.22%	-70.83%	69.35%

Correlation

The correlation between DBX and CFLT is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jun 25, 2021	0.46

Over the past year, the correlation between DBX and CFLT has dropped to 0.23 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.

Fundamentals

Market Cap DBX : $6.44B CFLT : $10.90B
EPS DBX : $1.83 CFLT : -$0.85
PS Ratio DBX : 2.78 CFLT : 9.20
Total Revenue (TTM) DBX : $2.53B CFLT : $1.17B
Gross Profit (TTM) DBX : $2.01B CFLT : $866.84M
EBITDA (TTM) DBX : $819.80M CFLT : -$339.97M

Return for Risk

DBX vs. CFLT — Risk / Return Rank

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

DBX

DBX Risk / Return Rank: 32
DBX Sharpe Ratio Rank: 33
DBX Sortino Ratio Rank: 29
DBX Omega Ratio Rank: 29
DBX Calmar Ratio Rank: 34
DBX Martin Ratio Rank: 33

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.

DBX vs. CFLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dropbox, Inc. (DBX) and Confluent, Inc. (CFLT). 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.

	DBX	CFLT	Difference
Sharpe ratio: Return per unit of total volatility	-0.20	—	—
Sortino ratio: Return per unit of downside risk	-0.07	—	—
Omega ratio: Gain probability vs. loss probability	0.99	—	—
Calmar ratio: Return relative to maximum drawdown	-0.22	—	—
Martin ratio: Return relative to average drawdown	-0.45	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DBX	CFLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.20	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	—	—

Drawdowns

Drawdown Indicators

	DBX	CFLT	Difference
Max Drawdown Largest peak-to-trough decline	-62.64%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-31.43%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-37.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-41.52%	—	—
Current Drawdown Current decline from peak	-35.24%	—	—
Average Drawdown Average peak-to-trough decline	-40.52%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	15.26%	—	—

Volatility

Volatility by Period

	DBX	CFLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	27.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	33.80%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.29%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.91%	—	—

Dividends

DBX vs. CFLT - Dividend Comparison

Neither DBX nor CFLT has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

DBX vs. CFLT - Profitability Comparison

The chart below illustrates the profitability comparison between Dropbox, Inc. and Confluent, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

DBX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Dropbox, Inc. reported a gross profit of 501.40M and revenue of 629.50M. Therefore, the gross margin over that period was 79.7%.

CFLT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Confluent, Inc. reported a gross profit of 235.16M and revenue of 314.82M. Therefore, the gross margin over that period was 74.7%.

DBX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Dropbox, Inc. reported an operating income of 172.80M and revenue of 629.50M, resulting in an operating margin of 27.5%.

CFLT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Confluent, Inc. reported an operating income of -99.17M and revenue of 314.82M, resulting in an operating margin of -31.5%.

DBX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Dropbox, Inc. reported a net income of 114.50M and revenue of 629.50M, resulting in a net margin of 18.2%.

CFLT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Confluent, Inc. reported a net income of -79.25M and revenue of 314.82M, resulting in a net margin of -25.2%.

Frequently Asked Questions

Can I hold both DBX and CFLT in my portfolio?

DBX and CFLT have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.