CGI Correlations

GIB Stock

USD 104.16 1.19 1.16%

The current 90-days correlation between CGI Inc and Gartner is 0.46 (i.e., Very weak diversification). The correlation of CGI 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.

CGI Correlation With Market

Weak diversification

The correlation between CGI Inc and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CGI Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in CGI Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with CGI Stock

0.78	IT	Gartner	Pair Corr
0.69	KD	Kyndryl Holdings	Pair Corr
0.83	EPAM	EPAM Systems	Pair Corr
0.94	ACN	Accenture plc Earnings Call Tomorrow	Pair Corr
0.66	DXC	DXC Technology Potential Growth	Pair Corr
0.61	UIS	Unisys	Pair Corr
0.82	WIT	Wipro Limited ADR	Pair Corr
0.76	GDYN	Grid Dynamics Holdings	Pair Corr
0.78	HCKT	Hackett Group	Pair Corr
0.71	NABL	N Able Inc	Pair Corr

Moving against CGI Stock

0.57	ARBB	ARB IOT Group	Pair Corr
0.48	JKHY	Jack Henry Associates	Pair Corr
0.4	SAIH	SAIHEAT Limited Symbol Change	Pair Corr

Related Correlations Analysis

	EXLS	ASGN	WNS	IT	HCKT	SAIC	LDOS	PSN	CLVT	G
EXLS		-0.06	0.74	0.73	0.4	-0.44	-0.32	-0.37	0.08	0.74	EXLS
ASGN	-0.06		-0.38	0.57	0.44	0.78	0.84	0.87	0.92	-0.69	ASGN
WNS	0.74	-0.38		0.33	0.02	-0.68	-0.61	-0.73	-0.28	0.77	WNS
IT	0.73	0.57	0.33		0.67	0.09	0.27	0.25	0.66	0.15	IT
HCKT	0.4	0.44	0.02	0.67		0.06	0.26	0.42	0.63	0.02	HCKT
SAIC	-0.44	0.78	-0.68	0.09	0.06		0.94	0.85	0.62	-0.8	SAIC
LDOS	-0.32	0.84	-0.61	0.27	0.26	0.94		0.88	0.73	-0.75	LDOS
PSN	-0.37	0.87	-0.73	0.25	0.42	0.85	0.88		0.8	-0.82	PSN
CLVT	0.08	0.92	-0.28	0.66	0.63	0.62	0.73	0.8		-0.52	CLVT
G	0.74	-0.69	0.77	0.15	0.02	-0.8	-0.75	-0.82	-0.52		G
	EXLS	ASGN	WNS	IT	HCKT	SAIC	LDOS	PSN	CLVT	G

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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

LDOS	+ 0.94	SAIC
CLVT	+ 0.92	ASGN
PSN	+ 0.88	LDOS
PSN	+ 0.87	ASGN
PSN	+ 0.85	SAIC
LDOS	+ 0.84	ASGN

High negative correlations

G	- 0.82	PSN
G	- 0.8	SAIC
G	- 0.75	LDOS
PSN	- 0.73	WNS
G	- 0.69	ASGN
SAIC	- 0.68	WNS

Risk-Adjusted Indicators

There is a big difference between CGI Stock performing well and CGI 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 CGI'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
EXLS	1.09	0.11	0.00	(0.01)	0.00	0.00	2.09	(2.63)	10.29
ASGN	1.56	(0.30)	0.00	(0.47)	0.00	0.00	2.64	(4.67)	9.60
WNS	1.82	0.53	0.24	0.27	1.76	(2.09)	4.57	(3.21)	26.44
IT	1.01	(0.09)	0.00	(0.20)	0.00	0.00	1.90	(2.18)	5.12
HCKT	0.93	(0.14)	0.00	(0.35)	0.00	0.00	1.35	(2.29)	4.67
SAIC	1.41	(0.14)	0.00	(0.88)	0.00	0.00	2.48	(4.16)	13.67
LDOS	1.34	(0.23)	0.00	(0.76)	0.00	0.00	2.53	(4.13)	11.05
PSN	1.69	(0.71)	0.00	(1.54)	0.00	0.00	2.54	(4.93)	13.43
CLVT	1.77	(0.42)	0.00	(1.04)	0.00	0.00	3.51	(4.06)	15.50
G	1.08	0.23	0.23	0.31	1.05	(1.25)	2.24	(2.26)	13.98

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