NET vs. FSLY
NET (Cloudflare, Inc.) and FSLY (Fastly, Inc.) are both stocks. Both are in the Technology sector — NET in Software - Infrastructure, FSLY in Software - Application. Over the past 5 years, NET returned 18.65%/yr vs -13.96%/yr for FSLY. Their 0.59 correlation means they have sometimes moved together and sometimes differently.
Performance
NET vs. FSLY - Performance Comparison
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Returns By Period
In the year-to-date period, NET achieves a 41.51% return, which is significantly lower than FSLY's 122.59% return.
NET
- 1D
- -1.56%
- 1M
- 15.09%
- 6M
- 57.30%
- YTD
- 41.51%
- 1Y
- 39.41%
- 3Y*
- 59.60%
- 5Y*
- 18.65%
- 10Y*
- —
- ALL TIME*
- 48.94%
FSLY
- 1D
- 5.15%
- 1M
- 24.99%
- 6M
- 144.97%
- YTD
- 122.59%
- 1Y
- 256.29%
- 3Y*
- 8.10%
- 5Y*
- -13.96%
- 10Y*
- —
- ALL TIME*
- 0.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
FSLY Fastly, Inc. | $87.80M | $95.93M | $146.72M |
| $785.10M | $820.59M | $951.21M |
NET vs. FSLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NET Cloudflare, Inc. | 41.51% | 83.09% | 29.33% | 84.16% | -65.62% | 73.05% | 345.43% | -5.22% |
FSLY Fastly, Inc. | 122.59% | 7.84% | -46.97% | 117.34% | -76.90% | -59.43% | 335.33% | -33.34% |
Correlation
The correlation between NET and FSLY is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.54 |
Correlation (3Y) Balances recent behavior with more history. | 0.55 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2019 | 0.59 |
The correlation between NET and FSLY has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.
Fundamentals
NET:
$98.92B
FSLY:
$3.55B
NET:
-$0.25
FSLY:
-$0.68
NET:
41.77
FSLY:
5.23
NET:
64.44
FSLY:
3.56
NET:
$2.33B
FSLY:
$652.57M
NET:
$1.71B
FSLY:
$382.79M
NET:
$168.53M
FSLY:
-$22.82M
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Return for Risk
NET vs. FSLY — Risk / Return Rank
NET
FSLY
NET vs. FSLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cloudflare, Inc. (NET) and Fastly, Inc. (FSLY). 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.
| NET | FSLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -1.89 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.42 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.94 | 4.56 | -3.62 |
| Martin ratioReturn relative to average drawdown | 1.97 | 9.55 | -7.57 |
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Drawdowns
NET vs. FSLY - Drawdown Comparison
The maximum NET drawdown since its inception was -82.58%, smaller than the maximum FSLY drawdown of -96.12%. Use the drawdown chart below to compare losses from any high point for NET and FSLY.
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Drawdown Indicators
| NET | FSLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.58% | -96.12% | +13.54% |
Max Drawdown (1Y)Largest decline over 1 year | -36.76% | -51.60% | +14.84% |
Max Drawdown (3Y)Largest decline over 3 years | -45.00% | -79.99% | +34.99% |
Max Drawdown (5Y)Largest decline over 5 years | -82.58% | -90.81% | +8.23% |
Current DrawdownCurrent decline from peak | -1.56% | -82.41% | +80.85% |
Average DrawdownAverage peak-to-trough decline | -36.95% | -70.44% | +33.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.44% | 24.61% | -7.17% |
Volatility
NET vs. FSLY - Volatility Comparison
The current volatility for Cloudflare, Inc. (NET) is 12.78%, while Fastly, Inc. (FSLY) has a volatility of 14.59%. This indicates that NET experiences smaller price fluctuations and is considered to be less risky than FSLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NET | FSLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.78% | 14.59% | -1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 51.77% | 98.00% | -46.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.57% | 117.88% | -57.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.69% | 87.43% | -18.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.37% | 88.82% | -21.45% |
Dividends
NET vs. FSLY - Dividend Comparison
Neither NET nor FSLY has paid dividends to shareholders.
Financials
NET vs. FSLY - Financials Comparison
This section allows you to compare key financial metrics between Cloudflare, Inc. and Fastly, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
NET vs. FSLY - Profitability Comparison
NET - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Cloudflare, Inc. reported a gross profit of 455.60M and revenue of 639.76M. Therefore, the gross margin over that period was 71.2%.
FSLY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Fastly, Inc. reported a gross profit of 108.18M and revenue of 173.02M. Therefore, the gross margin over that period was 62.5%.
NET - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Cloudflare, Inc. reported an operating income of -61.99M and revenue of 639.76M, resulting in an operating margin of -9.7%.
FSLY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Fastly, Inc. reported an operating income of -23.90M and revenue of 173.02M, resulting in an operating margin of -13.8%.
NET - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Cloudflare, Inc. reported a net income of -22.93M and revenue of 639.76M, resulting in a net margin of -3.6%.
FSLY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Fastly, Inc. reported a net income of -20.52M and revenue of 173.02M, resulting in a net margin of -11.9%.
Frequently Asked Questions
NET and FSLY have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSLY has higher volatility (14.59%) compared to NET (12.78%). In terms of maximum drawdown, NET dropped -82.58% vs FSLY's -96.12%.
FSLY currently has the higher Sharpe Ratio (2.00 vs 0.57), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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