Conduent Correlations

CNDT Stock

USD 2.99 0.09 2.92%

The current 90-days correlation between Conduent and Genpact Limited is 0.6 (i.e., Poor 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

Modest diversification

The correlation between Conduent and DJI is 0.28 (i.e., Modest 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

0.82	BV	BrightView Holdings	Pair Corr
0.92	FA	First Advantage Corp	Pair Corr
0.82	FC	Franklin Covey Earnings Call This Week	Pair Corr
0.74	DLHC	DLH Holdings Corp	Pair Corr
0.66	VCIG	VCI Global Limited	Pair Corr
0.61	VLTO	Veralto Sell-off Trend	Pair Corr
0.83	EXPO	Exponent	Pair Corr
0.92	AXR	AMREP	Pair Corr
0.7	BCO	Brinks Company	Pair Corr
0.78	BRC	Brady	Pair Corr
0.65	BTM	Bitcoin Depot	Pair Corr
0.73	CBZ	CBIZ Inc	Pair Corr
0.79	CIX	CompX International	Pair Corr
0.88	FORR	Forrester Research	Pair Corr
0.9	CLH	Clean Harbors	Pair Corr
0.66	FOUR	Shift4 Payments	Pair Corr
0.75	DLX	Deluxe	Pair Corr
0.86	DNB	Dun Bradstreet Holdings	Pair Corr

Moving against Conduent Stock

0.73	ESGL	ESGL Holdings Limited	Pair Corr
0.57	LZ	LegalZoom	Pair Corr
0.51	KC	Kingsoft Cloud Holdings Earnings Call Tomorrow	Pair Corr
0.5	WM	Waste Management	Pair Corr
0.49	VSEC	VSE Corporation	Pair Corr
0.44	VRSK	Verisk Analytics	Pair Corr
0.38	MG	Mistras Group	Pair Corr
0.35	G	Genpact Limited	Pair Corr
0.58	GDS	GDS Holdings Earnings Call This Week	Pair Corr
0.56	EBF	Ennis Inc	Pair Corr

Related Correlations Analysis

	FIS	IBM	KD	DXC	WNS	G	ASGN	CACI	PRFT	FORTY
FIS		-0.63	-0.1	0.77	-0.43	-0.7	0.86	0.71	0.0	-0.47	FIS
IBM	-0.63		0.41	-0.29	0.75	0.9	-0.69	-0.82	0.0	0.68	IBM
KD	-0.1	0.41		0.34	0.41	0.55	0.06	-0.26	0.0	0.13	KD
DXC	0.77	-0.29	0.34		-0.2	-0.35	0.81	0.43	0.0	-0.26	DXC
WNS	-0.43	0.75	0.41	-0.2		0.77	-0.39	-0.63	0.0	0.43	WNS
G	-0.7	0.9	0.55	-0.35	0.77		-0.68	-0.81	0.0	0.63	G
ASGN	0.86	-0.69	0.06	0.81	-0.39	-0.68		0.8	0.0	-0.65	ASGN
CACI	0.71	-0.82	-0.26	0.43	-0.63	-0.81	0.8		0.0	-0.7	CACI
PRFT	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PRFT
FORTY	-0.47	0.68	0.13	-0.26	0.43	0.63	-0.65	-0.7	0.0		FORTY
	FIS	IBM	KD	DXC	WNS	G	ASGN	CACI	PRFT	FORTY

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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

G	+ 0.9	IBM
ASGN	+ 0.86	FIS
ASGN	+ 0.81	DXC
CACI	+ 0.8	ASGN
DXC	+ 0.77	FIS
G	+ 0.77	WNS

High negative correlations

CACI	- 0.82	IBM
CACI	- 0.81	G
FORTY	- 0.7	CACI
G	- 0.7	FIS
ASGN	- 0.69	IBM
ASGN	- 0.68	G

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FIS	1.18	(0.18)	0.00	(0.66)	0.00	0.00	1.94	(3.19)	13.86
IBM	1.21	0.23	0.18	0.24	1.21	(1.42)	1.96	(1.77)	16.71
KD	1.76	0.17	0.07	0.06	2.09	(1.95)	4.50	(3.56)	13.50
DXC	1.67	(0.24)	0.00	(0.27)	0.00	0.00	3.17	(4.67)	11.15
WNS	1.85	0.54	0.25	0.30	1.75	(2.15)	4.57	(3.21)	26.44
G	1.08	0.23	0.22	0.33	1.06	(1.23)	2.24	(2.26)	13.98
ASGN	1.56	(0.32)	0.00	(0.47)	0.00	0.00	2.64	(4.67)	9.60
CACI	1.90	(0.12)	0.00	(0.41)	0.00	0.00	3.69	(4.30)	13.03
PRFT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FORTY	1.73	0.18	0.10	(4.56)	1.97	(2.57)	5.26	(3.57)	14.64

Conduent Corporate Management

Michael Krawitz	General VP	Profile
Mark Prout	Chief EVP	Profile
Michael McDaniel	Group Solutions	Profile
Tracy Yelencsics	Chief Officer	Profile
George Abate	Principal Officer	Profile

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