Markets Data Volatility Heatmap Portfolio Calculator

NET Deep Analytical Report

Cloudflare, Inc. | Category: Equity Mega Cap | Last Updated: 2026-02-22 | Data Range: 2019-09-01 → 2026-02-01 (78 months)
Quick Overview
Timeframe C-C DoR σ
(Historical)		 H-L DoR σ
(Historical)		 O-C DoR σ
(Historical)		 5Y ATRP
(Avg)		 Binomial IV
(Period)		 Yahoo IV
(Period)		 1σ Lower
(68.27%)		 1σ Upper 2σ Lower
(95.45%)		 2σ Upper
Daily 4.23% 3.11% 3.62% 5.52% 3.63% 3.70% 170.83 183.68 164.74 190.47
Weekly 9.79% 9.02% 10.11% 13.33% 7.99% 8.14% 163.54 191.87 150.99 207.82
Monthly 18.86% 17.07% 17.77% 28.80% 16.62% 16.94% 150.01 209.18 127.03 247.01
Quarterly 34.15% 34.62% 33.98% 53.63% 28.79% 29.33% 132.82 236.25 99.59 315.08
Annual — — — — 57.59% 58.67% 99.59 315.08 55.99 560.44
Option Time Horizon — — — — 22.15% 22.57% 141.94 221.06 113.74 275.88
Calculation Notes: Computed at 2026-02-22T14:20 UTC  |  Reference Contract: Call option expiring 2026-04-17 (54 days)  |  Spot Price (S): $177.14  |  Strike (K): $180.00 (first OTM call ≥ spot)  |  Observed Mid-Price: $14.8000 (Bid $14.3000 / Ask $15.3000)  |  Risk-Free Rate (r): 3.72% (1-Month CMT, US Treasury)  |  Dividend Yield (q): 0.00%  |  Binomial IV (Annual): 57.59% (CRR binomial tree, American, n=20 steps)  |  BS IV: 57.64% (European Black-Scholes)  |  Yahoo IV (Annual): 58.67% → period-scaled as σperiod = σannual·√h  |  Price bands: Upper = S·e+σ√h, Lower = S·e−σ√h
Close-to-Close Returns
Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.39. Further, an Excess Kurtosis of 4.50 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -12.45%120.74%0.74%
-12.45% to -9.28%150.93%1.67%
-9.28% to -6.11%643.96%5.63%
-6.11% to -2.94%17710.95%16.57%
-2.94% to 0.23%54833.89%50.46%
0.23% to 3.40%52932.71%83.18%
3.40% to 6.57%18711.56%94.74%
6.57% to 9.74%533.28%98.02%
9.74% to 12.91%150.93%98.95%
Greater than 12.91%171.05%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -4.00%4.46% 77.06%68.27%
±2σ -8.23%8.69% 94.62%95.45%
±3σ -12.45%12.91% 98.21%99.73%
Descriptive Statistics
Mean0.230%
Standard Error0.105%
Median0.172%
Mode0.000%
Standard Deviation4.228%
Sample Variance17.873%
Kurtosis4.50
Skewness0.39
Range48.089%
Minimum-21.031%
Maximum27.058%
Count1617
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 3.077% 845 52.26% 1.608%
Negative -2.909% 766 47.37% -1.378%
Zero 0.000% 6 0.37% 0.000%
Average True Range Percentage (ATRP)
Trading Days Horizon Average Daily True Range %
5 1 Week 6.78%
20 1 Month 7.64%
60 1 Quarter 4.90%
250 1 Year 4.63%
750 3 Years 4.48%
1,250 5 Years 5.52%
2,500 10 Years 5.64%
5,000 20 Years 5.64%
12,500 50 Years 5.64%
High-to-Low Returns
Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.80. Further, an Excess Kurtosis of 4.47 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -3.92%00.00%0.00%
-3.92% to -1.58%00.00%0.00%
-1.58% to 0.75%00.00%0.00%
0.75% to 3.09%33420.64%20.64%
3.09% to 5.42%67941.97%62.61%
5.42% to 7.76%32620.15%82.76%
7.76% to 10.10%1428.78%91.53%
10.10% to 12.43%724.45%95.98%
12.43% to 14.77%362.22%98.21%
Greater than 14.77%291.79%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ 2.31%8.54% 79.98%68.27%
±2σ -0.80%11.65% 94.99%95.45%
±3σ -3.92%14.77% 98.21%99.73%
Descriptive Statistics
Mean5.425%
Standard Error0.077%
Median4.584%
Mode2.949%
Standard Deviation3.114%
Sample Variance9.697%
Kurtosis4.47
Skewness1.80
Range24.818%
Minimum1.066%
Maximum25.884%
Count1618
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 5.425% 1618 100.00% 5.425%
Negative 0.000% 0 0.00% 0.000%
Zero 0.000% 0 0.00% 0.000%
Open-to-Close Returns
Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.14. Further, an Excess Kurtosis of 2.34 proves the distribution possesses Fat Tails (Higher Outlier Risk).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -10.91%80.49%0.49%
-10.91% to -8.19%221.36%1.85%
-8.19% to -5.48%563.46%5.32%
-5.48% to -2.77%22113.66%18.97%
-2.77% to -0.05%52232.26%51.24%
-0.05% to 2.66%49130.35%81.58%
2.66% to 5.37%19812.24%93.82%
5.37% to 8.09%664.08%97.90%
8.09% to 10.80%160.99%98.89%
Greater than 10.80%181.11%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -3.67%3.56% 75.59%68.27%
±2σ -7.29%7.18% 94.44%95.45%
±3σ -10.91%10.80% 98.39%99.73%
Descriptive Statistics
Mean-0.053%
Standard Error0.090%
Median-0.158%
Mode0.000%
Standard Deviation3.618%
Sample Variance13.093%
Kurtosis2.34
Skewness0.14
Range34.731%
Minimum-18.952%
Maximum15.779%
Count1618
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 2.703% 775 47.90% 1.295%
Negative -2.599% 839 51.85% -1.348%
Zero 0.000% 4 0.25% 0.000%
Close-to-Close Returns
Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.36. Further, an Excess Kurtosis of 2.72 proves the distribution possesses Fat Tails (Higher Outlier Risk).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -28.22%30.89%0.89%
-28.22% to -20.88%30.89%1.79%
-20.88% to -13.54%82.38%4.17%
-13.54% to -6.20%4613.69%17.86%
-6.20% to 1.15%12035.71%53.57%
1.15% to 8.49%10029.76%83.33%
8.49% to 15.83%3711.01%94.35%
15.83% to 23.17%92.68%97.02%
23.17% to 30.51%51.49%98.51%
Greater than 30.51%51.49%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -8.64%10.93% 76.49%68.27%
±2σ -18.43%20.72% 93.75%95.45%
±3σ -28.22%30.51% 97.62%99.73%
Descriptive Statistics
Mean1.145%
Standard Error0.534%
Median0.572%
Mode-0.449%
Standard Deviation9.788%
Sample Variance95.813%
Kurtosis2.72
Skewness0.36
Range81.112%
Minimum-37.093%
Maximum44.019%
Count336
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 7.856% 175 52.08% 4.092%
Negative -6.150% 161 47.92% -2.947%
Zero 0.000% 0 0.00% 0.000%
Average True Range Percentage (ATRP)
Weeks Horizon Average Weekly True Range %
4 1 Month 15.52%
12 1 Quarter 10.40%
52 1 Year 10.95%
156 3 Years 10.77%
260 5 Years 13.33%
520 10 Years 13.53%
1,040 20 Years 13.53%
2,600 50 Years 13.53%
High-to-Low Returns
Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 2.16. Further, an Excess Kurtosis of 6.66 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -12.46%00.00%0.00%
-12.46% to -5.70%00.00%0.00%
-5.70% to 1.06%00.00%0.00%
1.06% to 7.83%5716.91%16.91%
7.83% to 14.59%15846.88%63.80%
14.59% to 21.35%6418.99%82.79%
21.35% to 28.11%3911.57%94.36%
28.11% to 34.87%51.48%95.85%
34.87% to 41.63%61.78%97.63%
Greater than 41.63%82.37%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ 5.57%23.60% 81.60%68.27%
±2σ -3.44%32.62% 95.25%95.45%
±3σ -12.46%41.63% 97.63%99.73%
Descriptive Statistics
Mean14.586%
Standard Error0.491%
Median12.051%
Mode22.647%
Standard Deviation9.015%
Sample Variance81.261%
Kurtosis6.66
Skewness2.16
Range63.983%
Minimum3.249%
Maximum67.232%
Count337
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 14.586% 337 100.00% 14.586%
Negative 0.000% 0 0.00% 0.000%
Zero 0.000% 0 0.00% 0.000%
Open-to-Close Returns
Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.25. Further, an Excess Kurtosis of 5.84 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -30.41%10.30%0.30%
-30.41% to -22.83%41.19%1.48%
-22.83% to -15.25%72.08%3.56%
-15.25% to -7.67%4914.54%18.10%
-7.67% to -0.09%12236.20%54.30%
-0.09% to 7.49%10731.75%86.05%
7.49% to 15.07%267.72%93.77%
15.07% to 22.66%123.56%97.33%
22.66% to 30.24%41.19%98.52%
Greater than 30.24%51.48%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -10.20%10.02% 78.04%68.27%
±2σ -20.30%20.13% 95.25%95.45%
±3σ -30.41%30.24% 98.22%99.73%
Descriptive Statistics
Mean-0.087%
Standard Error0.551%
Median-0.811%
Mode4.485%
Standard Deviation10.108%
Sample Variance102.173%
Kurtosis5.84
Skewness1.25
Range90.785%
Minimum-32.139%
Maximum58.646%
Count337
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 7.634% 154 45.70% 3.489%
Negative -6.584% 183 54.30% -3.575%
Zero 0.000% 0 0.00% 0.000%
Close-to-Close Returns
Gram-Charlier Analysis: Data reveals Right Skewed (Positive Asymmetry) with a Skewness factor of 0.63. Further, an Excess Kurtosis of 1.45 proves the distribution possesses Fat Tails (Higher Outlier Risk).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -51.98%00.00%0.00%
-51.98% to -37.83%00.00%0.00%
-37.83% to -23.68%56.49%6.49%
-23.68% to -9.54%1012.99%19.48%
-9.54% to 4.61%2633.77%53.25%
4.61% to 18.76%2025.97%79.22%
18.76% to 32.91%1114.29%93.51%
32.91% to 47.06%45.19%98.70%
47.06% to 61.20%00.00%98.70%
Greater than 61.20%11.30%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -14.25%23.48% 74.03%68.27%
±2σ -33.12%42.34% 94.81%95.45%
±3σ -51.98%61.20% 98.70%99.73%
Descriptive Statistics
Mean4.612%
Standard Error2.150%
Median2.750%
Mode2.817%
Standard Deviation18.864%
Sample Variance355.858%
Kurtosis1.45
Skewness0.63
Range107.844%
Minimum-34.990%
Maximum72.854%
Count77
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 16.235% 45 58.44% 9.488%
Negative -11.734% 32 41.56% -4.876%
Zero 0.000% 0 0.00% 0.000%
Average True Range Percentage (ATRP)
Months Horizon Average Monthly True Range %
3 1 Quarter 20.53%
12 1 Year 23.46%
36 3 Years 24.80%
60 5 Years 28.80%
120 10 Years 29.08%
240 20 Years 29.08%
600 50 Years 29.08%
High-to-Low Returns
Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.21. Further, an Excess Kurtosis of 1.07 proves the distribution possesses Fat Tails (Higher Outlier Risk).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -17.13%00.00%0.00%
-17.13% to -4.33%00.00%0.00%
-4.33% to 8.47%00.00%0.00%
8.47% to 21.27%1721.79%21.79%
21.27% to 34.07%3038.46%60.26%
34.07% to 46.87%1519.23%79.49%
46.87% to 59.67%810.26%89.74%
59.67% to 72.47%45.13%94.87%
72.47% to 85.28%33.85%98.72%
Greater than 85.28%11.28%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ 17.01%51.14% 71.79%68.27%
±2σ -0.06%68.21% 93.59%95.45%
±3σ -17.13%85.28% 98.72%99.73%
Descriptive Statistics
Mean34.074%
Standard Error1.932%
Median29.036%
Mode11.198%
Standard Deviation17.067%
Sample Variance291.272%
Kurtosis1.07
Skewness1.21
Range75.990%
Minimum11.198%
Maximum87.188%
Count78
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 34.074% 78 100.00% 34.074%
Negative 0.000% 0 0.00% 0.000%
Zero 0.000% 0 0.00% 0.000%
Open-to-Close Returns
Gram-Charlier Analysis: Data reveals Right Skewed (Positive Asymmetry) with a Skewness factor of 0.74. Further, an Excess Kurtosis of 0.96 proves the distribution possesses Normal Tails (Mesokurtic).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -54.31%00.00%0.00%
-54.31% to -40.98%11.28%1.28%
-40.98% to -27.66%22.56%3.85%
-27.66% to -14.33%1417.95%21.79%
-14.33% to -1.01%2633.33%55.13%
-1.01% to 12.32%2430.77%85.90%
12.32% to 25.64%22.56%88.46%
25.64% to 38.97%67.69%96.15%
38.97% to 52.29%22.56%98.72%
Greater than 52.29%11.28%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -18.77%16.76% 73.08%68.27%
±2σ -36.54%34.53% 93.59%95.45%
±3σ -54.31%52.29% 98.72%99.73%
Descriptive Statistics
Mean-1.008%
Standard Error2.012%
Median-2.712%
Mode-41.963%
Standard Deviation17.767%
Sample Variance315.673%
Kurtosis0.96
Skewness0.74
Range95.481%
Minimum-41.963%
Maximum53.518%
Count78
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 14.548% 33 42.31% 6.155%
Negative -12.416% 45 57.69% -7.163%
Zero 0.000% 0 0.00% 0.000%
Close-to-Close Returns
Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.07. Further, an Excess Kurtosis of -0.66 proves the distribution possesses Normal Tails (Mesokurtic).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -87.71%00.00%0.00%
-87.71% to -62.10%00.00%0.00%
-62.10% to -36.49%27.69%7.69%
-36.49% to -10.88%519.23%26.92%
-10.88% to 14.73%830.77%57.69%
14.73% to 40.34%519.23%76.92%
40.34% to 65.95%415.38%92.31%
65.95% to 91.56%27.69%100.00%
91.56% to 117.17%00.00%100.00%
Greater than 117.17%00.00%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -19.41%48.88% 73.08%68.27%
±2σ -53.56%83.03% 100.00%95.45%
±3σ -87.71%117.17% 100.00%99.73%
Descriptive Statistics
Mean14.734%
Standard Error6.697%
Median11.244%
Mode-50.493%
Standard Deviation34.147%
Sample Variance1165.990%
Kurtosis-0.66
Skewness0.07
Range127.148%
Minimum-50.493%
Maximum76.655%
Count26
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 35.916% 16 61.54% 22.102%
Negative -19.158% 10 38.46% -7.369%
Zero 0.000% 0 0.00% 0.000%
Average True Range Percentage (ATRP)
Quarters Horizon Average Quarterly True Range %
4 1 Year 41.85%
12 3 Years 47.87%
20 5 Years 53.63%
40 10 Years 55.39%
80 20 Years 55.39%
200 50 Years 55.39%
High-to-Low Returns
Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.70. Further, an Excess Kurtosis of 4.48 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -32.84%00.00%0.00%
-32.84% to -6.87%00.00%0.00%
-6.87% to 19.09%00.00%0.00%
19.09% to 45.05%622.22%22.22%
45.05% to 71.02%933.33%55.56%
71.02% to 96.98%933.33%88.89%
96.98% to 122.94%13.70%92.59%
122.94% to 148.91%13.70%96.30%
148.91% to 174.87%00.00%96.30%
Greater than 174.87%13.70%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ 36.40%105.63% 85.19%68.27%
±2σ 1.78%140.25% 92.59%95.45%
±3σ -32.84%174.87% 96.30%99.73%
Descriptive Statistics
Mean71.016%
Standard Error6.662%
Median66.367%
Mode26.985%
Standard Deviation34.618%
Sample Variance1198.408%
Kurtosis4.48
Skewness1.70
Range162.324%
Minimum26.985%
Maximum189.309%
Count27
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 71.016% 27 100.00% 71.016%
Negative 0.000% 0 0.00% 0.000%
Zero 0.000% 0 0.00% 0.000%
Open-to-Close Returns
Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.49. Further, an Excess Kurtosis of 2.71 proves the distribution possesses Fat Tails (Higher Outlier Risk).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -105.06%00.00%0.00%
-105.06% to -79.58%00.00%0.00%
-79.58% to -54.09%00.00%0.00%
-54.09% to -28.61%622.22%22.22%
-28.61% to -3.13%1037.04%59.26%
-3.13% to 22.35%829.63%88.89%
22.35% to 47.83%13.70%92.59%
47.83% to 73.32%13.70%96.30%
73.32% to 98.80%00.00%96.30%
Greater than 98.80%13.70%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -37.11%30.85% 77.78%68.27%
±2σ -71.08%64.82% 92.59%95.45%
±3σ -105.06%98.80% 96.30%99.73%
Descriptive Statistics
Mean-3.130%
Standard Error6.539%
Median-8.558%
Mode-44.330%
Standard Deviation33.976%
Sample Variance1154.363%
Kurtosis2.71
Skewness1.49
Range146.353%
Minimum-44.330%
Maximum102.023%
Count27
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 30.423% 10 37.04% 11.268%
Negative -22.868% 17 62.96% -14.398%
Zero 0.000% 0 0.00% 0.000%