Conversion rate will use the conversion event type you have set up.
If you’ve set up multiple types of conversion events (e.g addToCart and purchase), Algolia doesn’t differentiate between them when calculating conversion rate. Instead, it aggregates all conversion events and computes a single conversion rate per record.
Additionally, if a single search results in multiple conversion events, this is counted the same as if it generated one conversion event. In other words, multiple conversions from the same search don’t increase the conversion rate beyond one conversion for that search.