NET vs PLTR: Correlation
Measured on weekly returns over the past three years, Cloudflare, Inc. (NET) and Palantir Technologies (PLTR) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NET and PLTR?
Over the past 3 years, NET and PLTR moved with a correlation of 0.56, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.56 over 3 years. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 2130.2 %².
Among the 15 assets we track against NET, PLTR ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NET outperformed by 31.6 percentage points (+50.2% for NET against +18.6% for PLTR).
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.
NET vs PLTR: side by side
| NET (Cloudflare, Inc.) | PLTR (Palantir Technologies) | |
|---|---|---|
| 1-year return | +50.2% | +18.6% |
| 5-year return | +149.7% | +621.8% |
| Volatility (ann.) | 53.7% | 71.3% |
| Beta vs S&P 500 | 1.68 | 2.47 |
| Max drawdown (3Y) | -45.0% | -48.2% |
| Market cap | $109.8B | $446.8B |
| P/E (trailing) | – | 151.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | NET | PLTR |
|---|---|---|
| 2022 | -65.6% | -64.7% |
| 2023 | +84.2% | +167.4% |
| 2024 | +29.3% | +340.5% |
| 2025 | +83.1% | +135.0% |
| 2026 | +56.3% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NET and PLTR good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NET and PLTR?
The NET/PLTR correlation stands at 0.56 on a 3-year window (1 year: 0.46, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is PLTR a good diversifier for NET?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: NET correlations · PLTR correlations
