Markets Data Volatility Heatmap Portfolio Calculator

NET Deep Analytical Report

Cloudflare, Inc. | Category: Equity Mega Cap | Last Updated: 2026-03-24 | Data Range: 2019-09-01 → 2026-03-01 (79 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 4.22% 3.10% 3.62% 5.50% 3.96% 4.01% 213.33 230.90 205.05 240.22
Weekly 9.81% 8.99% 10.15% 13.30% 8.71% 8.83% 203.42 242.15 186.45 264.19
Monthly 18.96% 16.95% 17.86% 29.06% 18.14% 18.38% 185.12 266.08 154.42 318.99
Quarterly 34.07% 33.92% 34.14% 54.40% 31.42% 31.83% 162.11 303.86 118.40 416.02
Annual — — — — 62.83% 63.67% 118.40 416.02 63.17 779.80
Option Time Horizon — — — — 23.72% 24.03% 175.08 281.34 138.12 356.64
Calculation Notes: Computed at 2026-03-23T16:35 UTC  |  Reference Contract: Call option expiring 2026-05-15 (52 days)  |  Spot Price (S): $221.94  |  Strike (K): $230.00 (first OTM call ≥ spot)  |  Observed Mid-Price: $18.2250 (Bid $16.9000 / Ask $19.5500)  |  Risk-Free Rate (r): 3.73% (1-Month CMT, US Treasury)  |  Dividend Yield (q): 0.00%  |  Binomial IV (Annual): 62.83% (CRR binomial tree, American, n=20 steps)  |  BS IV: 63.43% (European Black-Scholes)  |  Yahoo IV (Annual): 63.67% → 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 0.38. 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 -12.42%120.73%0.73%
-12.42% to -9.25%160.98%1.71%
-9.25% to -6.09%653.97%5.68%
-6.09% to -2.92%17610.74%16.42%
-2.92% to 0.24%55633.94%50.37%
0.24% to 3.41%53732.78%83.15%
3.41% to 6.57%19011.60%94.75%
6.57% to 9.74%543.30%98.05%
9.74% to 12.90%150.92%98.96%
Greater than 12.90%171.04%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -3.98%4.46% 77.11%68.27%
±2σ -8.20%8.68% 94.51%95.45%
±3σ -12.42%12.90% 98.23%99.73%
Descriptive Statistics
Mean0.242%
Standard Error0.104%
Median0.176%
Mode0.000%
Standard Deviation4.220%
Sample Variance17.812%
Kurtosis4.48
Skewness0.38
Range48.089%
Minimum-21.031%
Maximum27.058%
Count1638
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 3.078% 859 52.44% 1.614%
Negative -2.908% 773 47.19% -1.372%
Zero 0.000% 6 0.37% 0.000%
Average True Range Percentage (ATRP)
Trading Days Horizon Average Daily True Range %
5 1 Week 5.40%
20 1 Month 5.09%
60 1 Quarter 5.56%
250 1 Year 4.60%
750 3 Years 4.48%
1,250 5 Years 5.50%
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 4.50 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -3.88%00.00%0.00%
-3.88% to -1.55%00.00%0.00%
-1.55% to 0.77%00.00%0.00%
0.77% to 3.10%33820.62%20.62%
3.10% to 5.42%68841.98%62.60%
5.42% to 7.75%32920.07%82.67%
7.75% to 10.08%1458.85%91.52%
10.08% to 12.40%744.51%96.03%
12.40% to 14.73%352.14%98.17%
Greater than 14.73%301.83%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ 2.32%8.53% 79.93%68.27%
±2σ -0.78%11.63% 95.00%95.45%
±3σ -3.88%14.73% 98.17%99.73%
Descriptive Statistics
Mean5.425%
Standard Error0.077%
Median4.596%
Mode2.949%
Standard Deviation3.102%
Sample Variance9.623%
Kurtosis4.50
Skewness1.80
Range24.818%
Minimum1.066%
Maximum25.884%
Count1639
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 5.425% 1639 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 0.15. Further, an Excess Kurtosis of 2.31 proves the distribution possesses Fat Tails (Higher Outlier Risk).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -10.93%80.49%0.49%
-10.93% to -8.22%221.34%1.83%
-8.22% to -5.50%563.42%5.25%
-5.50% to -2.79%22613.79%19.04%
-2.79% to -0.07%53132.40%51.43%
-0.07% to 2.64%49430.14%81.57%
2.64% to 5.36%20112.26%93.84%
5.36% to 8.07%664.03%97.86%
8.07% to 10.79%171.04%98.90%
Greater than 10.79%181.10%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -3.69%3.55% 75.59%68.27%
±2σ -7.31%7.17% 94.39%95.45%
±3σ -10.93%10.79% 98.41%99.73%
Descriptive Statistics
Mean-0.072%
Standard Error0.089%
Median-0.169%
Mode0.000%
Standard Deviation3.620%
Sample Variance13.106%
Kurtosis2.31
Skewness0.15
Range34.731%
Minimum-18.952%
Maximum15.779%
Count1639
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 2.701% 781 47.65% 1.287%
Negative -2.609% 854 52.10% -1.359%
Zero 0.000% 4 0.24% 0.000%
Close-to-Close Returns
Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.33. Further, an Excess Kurtosis of 2.64 proves the distribution possesses Fat Tails (Higher Outlier Risk).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -28.23%30.88%0.88%
-28.23% to -20.87%30.88%1.76%
-20.87% to -13.51%102.94%4.71%
-13.51% to -6.15%4412.94%17.65%
-6.15% to 1.21%12235.88%53.53%
1.21% to 8.57%10029.41%82.94%
8.57% to 15.93%3911.47%94.41%
15.93% to 23.29%92.65%97.06%
23.29% to 30.65%51.47%98.53%
Greater than 30.65%51.47%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -8.61%11.02% 76.18%68.27%
±2σ -18.42%20.83% 93.82%95.45%
±3σ -28.23%30.65% 97.65%99.73%
Descriptive Statistics
Mean1.208%
Standard Error0.532%
Median0.605%
Mode-0.449%
Standard Deviation9.813%
Sample Variance96.294%
Kurtosis2.64
Skewness0.33
Range81.112%
Minimum-37.093%
Maximum44.019%
Count340
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 7.875% 179 52.65% 4.146%
Negative -6.204% 161 47.35% -2.938%
Zero 0.000% 0 0.00% 0.000%
Average True Range Percentage (ATRP)
Weeks Horizon Average Weekly True Range %
4 1 Month 13.24%
12 1 Quarter 13.60%
52 1 Year 11.08%
156 3 Years 10.88%
260 5 Years 13.30%
520 10 Years 13.55%
1,040 20 Years 13.55%
2,600 50 Years 13.55%
High-to-Low Returns
Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 2.15. Further, an Excess Kurtosis of 6.62 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -12.38%00.00%0.00%
-12.38% to -5.63%00.00%0.00%
-5.63% to 1.12%00.00%0.00%
1.12% to 7.86%5817.01%17.01%
7.86% to 14.61%15946.63%63.64%
14.61% to 21.36%6519.06%82.70%
21.36% to 28.10%4011.73%94.43%
28.10% to 34.85%51.47%95.89%
34.85% to 41.59%61.76%97.65%
Greater than 41.59%82.35%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ 5.62%23.60% 81.52%68.27%
±2σ -3.38%32.60% 95.31%95.45%
±3σ -12.38%41.59% 97.65%99.73%
Descriptive Statistics
Mean14.610%
Standard Error0.487%
Median12.051%
Mode22.647%
Standard Deviation8.995%
Sample Variance80.905%
Kurtosis6.62
Skewness2.15
Range63.983%
Minimum3.249%
Maximum67.232%
Count341
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 14.610% 341 100.00% 14.610%
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 1.26. Further, an Excess Kurtosis of 5.68 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -30.61%10.29%0.29%
-30.61% to -23.00%41.17%1.47%
-23.00% to -15.38%72.05%3.52%
-15.38% to -7.77%4814.08%17.60%
-7.77% to -0.15%12436.36%53.96%
-0.15% to 7.46%11032.26%86.22%
7.46% to 15.08%257.33%93.55%
15.08% to 22.69%133.81%97.36%
22.69% to 30.31%41.17%98.53%
Greater than 30.31%51.47%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -10.30%10.00% 78.30%68.27%
±2σ -20.46%20.16% 95.31%95.45%
±3σ -30.61%30.31% 98.24%99.73%
Descriptive Statistics
Mean-0.151%
Standard Error0.550%
Median-0.838%
Mode4.485%
Standard Deviation10.153%
Sample Variance103.085%
Kurtosis5.68
Skewness1.26
Range90.785%
Minimum-32.139%
Maximum58.646%
Count341
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 7.709% 154 45.16% 3.481%
Negative -6.624% 187 54.84% -3.633%
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 0.60. Further, an Excess Kurtosis of 1.30 proves the distribution possesses Fat Tails (Higher Outlier Risk).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -52.00%00.00%0.00%
-52.00% to -37.77%00.00%0.00%
-37.77% to -23.55%56.41%6.41%
-23.55% to -9.33%1012.82%19.23%
-9.33% to 4.89%2734.62%53.85%
4.89% to 19.12%1924.36%78.21%
19.12% to 33.34%1215.38%93.59%
33.34% to 47.56%45.13%98.72%
47.56% to 61.79%00.00%98.72%
Greater than 61.79%11.28%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -14.07%23.86% 74.36%68.27%
±2σ -33.03%42.82% 94.87%95.45%
±3σ -52.00%61.79% 98.72%99.73%
Descriptive Statistics
Mean4.894%
Standard Error2.147%
Median2.784%
Mode2.817%
Standard Deviation18.964%
Sample Variance359.622%
Kurtosis1.30
Skewness0.60
Range107.844%
Minimum-34.990%
Maximum72.854%
Count78
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 16.523% 46 58.97% 9.744%
Negative -11.821% 32 41.03% -4.850%
Zero 0.000% 0 0.00% 0.000%
Average True Range Percentage (ATRP)
Months Horizon Average Monthly True Range %
3 1 Quarter 28.96%
12 1 Year 24.13%
36 3 Years 25.27%
60 5 Years 29.06%
120 10 Years 29.19%
240 20 Years 29.19%
600 50 Years 29.19%
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 1.11 proves the distribution possesses Fat Tails (Higher Outlier Risk).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -16.74%00.00%0.00%
-16.74% to -4.02%00.00%0.00%
-4.02% to 8.69%00.00%0.00%
8.69% to 21.41%1721.52%21.52%
21.41% to 34.12%3037.97%59.49%
34.12% to 46.84%1620.25%79.75%
46.84% to 59.55%810.13%89.87%
59.55% to 72.27%33.80%93.67%
72.27% to 84.98%45.06%98.73%
Greater than 84.98%11.27%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ 17.17%51.08% 72.15%68.27%
±2σ 0.22%68.03% 93.67%95.45%
±3σ -16.74%84.98% 98.73%99.73%
Descriptive Statistics
Mean34.122%
Standard Error1.907%
Median29.103%
Mode11.198%
Standard Deviation16.953%
Sample Variance287.421%
Kurtosis1.11
Skewness1.21
Range75.990%
Minimum11.198%
Maximum87.188%
Count79
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 34.122% 79 100.00% 34.122%
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 0.73. Further, an Excess Kurtosis of 0.91 proves the distribution possesses Normal Tails (Mesokurtic).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -54.85%00.00%0.00%
-54.85% to -41.46%11.27%1.27%
-41.46% to -28.06%22.53%3.80%
-28.06% to -14.67%1518.99%22.78%
-14.67% to -1.27%2531.65%54.43%
-1.27% to 12.12%2430.38%84.81%
12.12% to 25.52%33.80%88.61%
25.52% to 38.91%67.59%96.20%
38.91% to 52.30%22.53%98.73%
Greater than 52.30%11.27%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -19.13%16.59% 74.68%68.27%
±2σ -36.99%34.45% 93.67%95.45%
±3σ -54.85%52.30% 98.73%99.73%
Descriptive Statistics
Mean-1.273%
Standard Error2.009%
Median-2.801%
Mode-41.963%
Standard Deviation17.859%
Sample Variance318.954%
Kurtosis0.91
Skewness0.73
Range95.481%
Minimum-41.963%
Maximum53.518%
Count79
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 14.190% 34 43.04% 6.107%
Negative -12.957% 45 56.96% -7.381%
Zero 0.000% 0 0.00% 0.000%
Close-to-Close Returns
Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of -0.02. Further, an Excess Kurtosis of -0.64 proves the distribution possesses Normal Tails (Mesokurtic).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -86.49%00.00%0.00%
-86.49% to -60.94%00.00%0.00%
-60.94% to -35.38%27.69%7.69%
-35.38% to -9.83%623.08%30.77%
-9.83% to 15.73%623.08%53.85%
15.73% to 41.28%623.08%76.92%
41.28% to 66.84%415.38%92.31%
66.84% to 92.39%27.69%100.00%
92.39% to 117.95%00.00%100.00%
Greater than 117.95%00.00%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -18.35%49.80% 73.08%68.27%
±2σ -52.42%83.87% 100.00%95.45%
±3σ -86.49%117.95% 100.00%99.73%
Descriptive Statistics
Mean15.727%
Standard Error6.682%
Median12.549%
Mode-50.493%
Standard Deviation34.073%
Sample Variance1160.952%
Kurtosis-0.64
Skewness-0.02
Range127.148%
Minimum-50.493%
Maximum76.655%
Count26
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 35.315% 17 65.39% 23.091%
Negative -21.273% 9 34.62% -7.364%
Zero 0.000% 0 0.00% 0.000%
Average True Range Percentage (ATRP)
Quarters Horizon Average Quarterly True Range %
4 1 Year 45.69%
12 3 Years 49.15%
20 5 Years 54.40%
40 10 Years 55.98%
80 20 Years 55.98%
200 50 Years 55.98%
High-to-Low Returns
Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.81. Further, an Excess Kurtosis of 4.86 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -30.12%00.00%0.00%
-30.12% to -4.67%00.00%0.00%
-4.67% to 20.77%00.00%0.00%
20.77% to 46.21%622.22%22.22%
46.21% to 71.66%933.33%55.56%
71.66% to 97.10%933.33%88.89%
97.10% to 122.54%13.70%92.59%
122.54% to 147.99%13.70%96.30%
147.99% to 173.43%00.00%96.30%
Greater than 173.43%13.70%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ 37.73%105.58% 81.48%68.27%
±2σ 3.81%139.51% 92.59%95.45%
±3σ -30.12%173.43% 96.30%99.73%
Descriptive Statistics
Mean71.656%
Standard Error6.529%
Median66.367%
Mode27.331%
Standard Deviation33.925%
Sample Variance1150.921%
Kurtosis4.86
Skewness1.81
Range161.978%
Minimum27.331%
Maximum189.309%
Count27
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 71.656% 27 100.00% 71.656%
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 1.53. Further, an Excess Kurtosis of 2.75 proves the distribution possesses Fat Tails (Higher Outlier Risk).
Bin Distribution Over Raw Range
Bin / RangeFrequencyProbCum. Prob
Less than -106.31%00.00%0.00%
-106.31% to -80.71%00.00%0.00%
-80.71% to -55.10%00.00%0.00%
-55.10% to -29.49%622.22%22.22%
-29.49% to -3.89%1140.74%62.96%
-3.89% to 21.72%725.93%88.89%
21.72% to 47.33%13.70%92.59%
47.33% to 72.93%13.70%96.30%
72.93% to 98.54%00.00%96.30%
Greater than 98.54%13.70%100.00%
Standard Deviation Interval Analysis
SDLower BndUpper Bnd Actual %Normal %
±1σ -38.03%30.26% 77.78%68.27%
±2σ -72.17%64.40% 92.59%95.45%
±3σ -106.31%98.54% 96.30%99.73%
Descriptive Statistics
Mean-3.887%
Standard Error6.571%
Median-11.914%
Mode-44.330%
Standard Deviation34.142%
Sample Variance1165.676%
Kurtosis2.75
Skewness1.53
Range146.353%
Minimum-44.330%
Maximum102.023%
Count27
Frequency Breakdown
CategoryAvg ReturnCountProbabilityFreq Adj Return
Positive 30.423% 10 37.04% 11.268%
Negative -24.070% 17 62.96% -15.155%
Zero 0.000% 0 0.00% 0.000%