Cognizant Technology Correlations

CTSH Stock

USD 75.60 1.98 2.55%

The current 90-days correlation between Cognizant Technology and Wipro Limited ADR is 0.38 (i.e., Weak 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 0.42 (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

0.8	FI	Fiserv,	Pair Corr
0.71	VNET	VNET Group DRC	Pair Corr
0.76	EXLS	ExlService Holdings	Pair Corr
0.61	GIB	CGI Inc	Pair Corr
0.77	IBM	International Business	Pair Corr
0.66	WRD	WeRide American Depo	Pair Corr

Moving against Cognizant Stock

0.63	GLE	Global Engine Group Tech Boost	Pair Corr
0.43	FIS	Fidelity National	Pair Corr
0.39	III	Information Services	Pair Corr
0.54	LDOS	Leidos Holdings	Pair Corr
0.44	PSN	Parsons Corp	Pair Corr
0.39	WYY	Widepoint C	Pair Corr
0.35	NTRP	NextTrip Trending	Pair Corr

Related Correlations Analysis

	WIT	ACN	FISV	IT	CACI	CDW	JKHY	BR	EXLS	FIS
WIT		0.92	0.0	0.85	0.1	0.8	-0.41	0.19	0.52	0.5	WIT
ACN	0.92		0.0	0.9	-0.07	0.84	-0.44	0.33	0.66	0.29	ACN
FISV	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	FISV
IT	0.85	0.9	0.0		0.16	0.9	-0.34	0.29	0.63	0.4	IT
CACI	0.1	-0.07	0.0	0.16		0.13	0.07	-0.54	-0.34	0.68	CACI
CDW	0.8	0.84	0.0	0.9	0.13		-0.5	0.38	0.76	0.38	CDW
JKHY	-0.41	-0.44	0.0	-0.34	0.07	-0.5		0.01	-0.32	-0.02	JKHY
BR	0.19	0.33	0.0	0.29	-0.54	0.38	0.01		0.8	-0.26	BR
EXLS	0.52	0.66	0.0	0.63	-0.34	0.76	-0.32	0.8		-0.07	EXLS
FIS	0.5	0.29	0.0	0.4	0.68	0.38	-0.02	-0.26	-0.07		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

ACN	+ 0.92	WIT
IT	+ 0.9	ACN
CDW	+ 0.9	IT
IT	+ 0.85	WIT
CDW	+ 0.84	ACN
CDW	+ 0.8	WIT

High negative correlations

BR	- 0.54	CACI
JKHY	- 0.5	CDW
JKHY	- 0.44	ACN
JKHY	- 0.41	WIT
EXLS	- 0.34	CACI
JKHY	- 0.34	IT

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	1.31	(0.21)	0.00	(0.27)	0.00	0.00	3.11	(2.96)	8.72
ACN	1.13	(0.25)	0.00	(0.31)	0.00	0.00	1.69	(2.35)	10.22
FISV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IT	1.15	(0.16)	0.00	(0.18)	0.00	0.00	1.93	(2.49)	8.91
CACI	1.82	(0.06)	0.00	(0.16)	0.00	0.00	3.69	(4.45)	13.03
CDW	1.29	(0.05)	0.00	(0.07)	0.00	0.00	2.86	(3.09)	7.33
JKHY	0.98	0.04	0.04	0.16	1.61	(1.00)	2.54	(2.01)	11.31
BR	0.81	0.12	0.09	0.12	1.28	(0.80)	1.51	(1.92)	5.12
EXLS	1.06	0.11	0.06	0.06	1.42	(1.08)	2.09	(2.31)	10.29
FIS	1.14	(0.07)	0.00	(0.20)	0.00	0.00	1.94	(2.83)	13.86

Cognizant Technology Corporate Management

Shinji Murakami	Head Market	Profile
Katie CFA	Global Relations	Profile
Rajesh MCA	Chairman VP	Profile
Anil Cheriyan	Ex Technology	Profile

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