Conduent Correlations

CNDT Stock  USD 3.54  0.03  0.84%   
The current 90-days correlation between Conduent and Genpact Limited is 0.5 (i.e., Very weak diversification). The correlation of Conduent is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Conduent Correlation With Market

Significant diversification

The correlation between Conduent and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conduent and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Conduent. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.
For more information on how to buy Conduent Stock please use our How to Invest in Conduent guide.

Moving together with Conduent Stock

  0.61FVRR Fiverr InternationalPairCorr

Moving against Conduent Stock

  0.35WM Waste ManagementPairCorr
  0.4HDSN Hudson Technologies Earnings Call This WeekPairCorr
  0.33INOD InnodataPairCorr
  0.33PAGS PagSeguro DigitalPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
GIBM
CACIASGN
ASGNFIS
CACIFIS
GWNS
DXCFIS
  
High negative correlations   
CACIIBM
FORTYCACI
CACIG
ASGNG
ASGNIBM
GFIS

Risk-Adjusted Indicators

There is a big difference between Conduent Stock performing well and Conduent Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Conduent's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FIS  1.01 (0.26) 0.00 (0.96) 0.00 
 1.79 
 13.87 
IBM  1.10  0.22  0.17  0.41  1.14 
 1.96 
 16.71 
KD  1.66  0.28  0.15  0.24  1.61 
 4.00 
 12.16 
DXC  1.55 (0.22) 0.00 (0.21) 0.00 
 2.73 
 11.15 
WNS  1.76  0.21  0.09  0.13  2.00 
 2.82 
 26.44 
G  0.99  0.24  0.25  0.67  0.83 
 2.24 
 13.49 
ASGN  1.45 (0.30) 0.00 (0.26) 0.00 
 2.43 
 11.47 
CACI  1.63 (0.51) 0.00 (9.12) 0.00 
 2.83 
 13.03 
PRFT  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
FORTY  1.74  0.28  0.11  1.16  1.81 
 5.26 
 15.56 

Conduent Corporate Management