Cognizant Technology Correlations

CTSH Stock

USD 84.84 0.29 0.34%

The current 90-days correlation between Cognizant Technology and Wipro Limited ADR is 0.13 (i.e., Average diversification). The correlation of Cognizant Technology 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.

Cognizant Technology Correlation With Market

Very weak diversification

The correlation between Cognizant Technology Solutions and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cognizant Technology Solutions 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 Cognizant Technology Solutions. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Cognizant Stock

0.74	G	Genpact Limited Sell-off Trend	Pair Corr
0.82	BR	Broadridge Financial	Pair Corr
0.66	FI	Fiserv,	Pair Corr
0.61	KD	Kyndryl Holdings Sell-off Trend	Pair Corr
0.64	EPAM	EPAM Systems	Pair Corr
0.81	EXLS	ExlService Holdings Earnings Call Tomorrow	Pair Corr
0.83	ACN	Accenture plc Sell-off Trend	Pair Corr
0.85	GIB	CGI Inc	Pair Corr
0.9	IBM	International Business	Pair Corr
0.63	WNS	WNS Holdings	Pair Corr
0.65	MGIC	Magic Software Enter	Pair Corr

Moving against Cognizant Stock

0.5	FIS	Fidelity National Sell-off Trend	Pair Corr
0.45	PSN	Parsons Corp	Pair Corr
0.43	DMRC	Digimarc Earnings Call Tomorrow	Pair Corr
0.39	VEEA	Veea Inc Symbol Change	Pair Corr
0.32	DTST	Data Storage Corp	Pair Corr
0.51	VEEAW	Veea Inc Symbol Change	Pair Corr
0.41	LDOS	Leidos Holdings	Pair Corr
0.4	INFY	Infosys Ltd ADR Sell-off Trend	Pair Corr
0.37	VYX	NCR Voyix Earnings Call Tomorrow	Pair Corr
0.35	XRX	Xerox Corp	Pair Corr
0.35	JKHY	Jack Henry Associates Tech Boost	Pair Corr

Related Correlations Analysis

	WIT	ACN	FISV	IT	CACI	CDW	JKHY	BR	EXLS	FIS
WIT		0.73	0.0	0.37	-0.45	0.52	0.23	0.58	0.61	-0.12	WIT
ACN	0.73		0.0	0.62	-0.66	0.7	-0.32	0.78	0.85	-0.29	ACN
FISV	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	FISV
IT	0.37	0.62	0.0		-0.1	0.72	-0.11	0.7	0.7	0.19	IT
CACI	-0.45	-0.66	0.0	-0.1		-0.15	0.44	-0.21	-0.29	0.32	CACI
CDW	0.52	0.7	0.0	0.72	-0.15		-0.31	0.73	0.89	-0.39	CDW
JKHY	0.23	-0.32	0.0	-0.11	0.44	-0.31		-0.23	-0.34	0.56	JKHY
BR	0.58	0.78	0.0	0.7	-0.21	0.73	-0.23		0.9	-0.31	BR
EXLS	0.61	0.85	0.0	0.7	-0.29	0.89	-0.34	0.9		-0.45	EXLS
FIS	-0.12	-0.29	0.0	0.19	0.32	-0.39	0.56	-0.31	-0.45		FIS
	WIT	ACN	FISV	IT	CACI	CDW	JKHY	BR	EXLS	FIS

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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

EXLS	+ 0.9	BR
EXLS	+ 0.89	CDW
EXLS	+ 0.85	ACN
BR	+ 0.78	ACN
ACN	+ 0.73	WIT
BR	+ 0.73	CDW

High negative correlations

CACI	- 0.66	ACN
FIS	- 0.45	EXLS
CACI	- 0.45	WIT
FIS	- 0.39	CDW
EXLS	- 0.34	JKHY
JKHY	- 0.32	ACN

Risk-Adjusted Indicators

There is a big difference between Cognizant Stock performing well and Cognizant Technology 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 Cognizant Technology'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
WIT	1.25	(0.04)	0.00	(0.15)	0.00	0.00	2.92	(3.38)	8.72
ACN	1.09	0.01	0.01	0.02	1.53	(1.17)	2.13	(2.71)	12.41
FISV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IT	0.85	(0.06)	0.00	(0.08)	0.00	0.00	1.90	(1.60)	5.12
CACI	1.69	(0.53)	0.00	(1.56)	0.00	0.00	3.44	(4.50)	13.03
CDW	1.17	0.05	0.03	0.07	1.65	(1.07)	2.67	(2.92)	7.33
JKHY	0.69	(0.01)	(0.01)	0.10	0.91	(0.74)	1.27	(1.55)	4.49
BR	0.73	0.06	0.05	0.11	1.06	(0.72)	1.38	(1.10)	4.90
EXLS	0.99	0.14	0.10	0.13	1.29	(1.06)	2.53	(1.89)	10.29
FIS	1.02	(0.34)	0.00	(8.11)	0.00	0.00	1.65	(2.80)	13.87

Cognizant Technology Corporate Management

Katie CFA	Global Relations	Profile
Rajesh MCA	Chairman VP	Profile
Anil Cheriyan	Ex Technology	Profile
Balu Ayyar	Automation Operations	Profile

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