FFIV vs NET: Correlation
How closely do F5, Inc. (FFIV) and Cloudflare, Inc. (NET) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FFIV and NET?
Across a 3-year window, the weekly returns of FFIV and NET correlate at 0.44, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.20 versus 0.44 over 3 years. Stretching to 5 years gives 0.48, with an annualized covariance of 623.1 %².
Within FFIV's tracked universe of 34 assets, NET comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NET ahead by 21.1 points (+29.1% versus +50.2%). Risk is not evenly split, since NET carries 2.0 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
FFIV vs NET: side by side
| FFIV (F5, Inc.) | NET (Cloudflare, Inc.) | |
|---|---|---|
| 1-year return | +29.1% | +50.2% |
| 5-year return | +99.3% | +149.7% |
| Volatility (ann.) | 26.6% | 53.7% |
| Beta vs S&P 500 | 0.77 | 1.68 |
| Max drawdown (3Y) | -34.7% | -45.0% |
| Market cap | $23.2B | $109.8B |
| P/E (trailing) | 31.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FFIV | NET |
|---|---|---|
| 2022 | -41.4% | -65.6% |
| 2023 | +24.7% | +84.2% |
| 2024 | +40.5% | +29.3% |
| 2025 | +1.5% | +83.1% |
| 2026 | +60.7% | +56.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FFIV and NET good diversifiers for each other?
Reasonably. At 0.44, FFIV and NET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FFIV and NET?
As of 2026-08-27, the correlation of weekly returns between FFIV and NET is 0.44 over 3 years, 0.20 over 1 year and 0.48 over 5 years.
Is NET a good diversifier for FFIV?
Reasonably. At 0.44, FFIV and NET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ffiv-vs-net.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ffiv-vs-net/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FFIV correlations · NET correlations
