International Business Correlations

IBM Stock

USD 257.75 4.12 1.57%

The current 90-days correlation between International Business and EPAM Systems is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as International Business moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if International Business Machines moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

International Business Correlation With Market

Modest diversification

The correlation between International Business Machine and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Business Machine 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 International Business Machines. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with International Stock

0.86	G	Genpact Limited Sell-off Trend	Pair Corr
0.79	BR	Broadridge Financial	Pair Corr
0.74	FI	Fiserv,	Pair Corr
0.7	KD	Kyndryl Holdings Sell-off Trend	Pair Corr
0.83	VNET	VNET Group DRC Tech Boost	Pair Corr
0.83	EXLS	ExlService Holdings Earnings Call Tomorrow	Pair Corr
0.85	ACN	Accenture plc Sell-off Trend	Pair Corr
0.74	GDS	GDS Holdings	Pair Corr
0.87	GIB	CGI Inc	Pair Corr
0.67	WIT	Wipro Limited ADR	Pair Corr
0.72	WNS	WNS Holdings	Pair Corr
0.75	IBEX	IBEX	Pair Corr
0.7	MGIC	Magic Software Enter	Pair Corr

Moving against International Stock

0.83	PSN	Parsons Corp	Pair Corr
0.58	FIS	Fidelity National Sell-off Trend	Pair Corr
0.48	VEEA	Veea Inc Symbol Change	Pair Corr
0.48	GLE	Global Engine Group	Pair Corr
0.7	VEEAW	Veea Inc Symbol Change	Pair Corr
0.66	LDOS	Leidos Holdings	Pair Corr
0.62	VYX	NCR Voyix Earnings Call Tomorrow	Pair Corr
0.57	SLNHP	Soluna Holdings Preferred	Pair Corr
0.49	XRX	Xerox Corp	Pair Corr
0.41	DTSTW	Data Storage	Pair Corr
0.35	WYY	Widepoint C	Pair Corr
0.35	INFY	Infosys Ltd ADR Sell-off Trend	Pair Corr
0.34	JKHY	Jack Henry Associates	Pair Corr

Related Correlations Analysis

	EPAM	INFY	CTSH	NOTE	INOD	AUR	CNDT	FIS	KD	DXC
EPAM		0.06	0.61	0.29	-0.05	0.32	0.45	0.05	0.39	0.49	EPAM
INFY	0.06		-0.36	-0.49	-0.39	-0.05	0.33	0.5	-0.29	0.35	INFY
CTSH	0.61	-0.36		0.6	0.56	0.58	0.25	-0.54	0.62	0.12	CTSH
NOTE	0.29	-0.49	0.6		0.3	0.52	0.24	-0.82	0.82	-0.4	NOTE
INOD	-0.05	-0.39	0.56	0.3		0.46	-0.12	-0.57	0.16	-0.24	INOD
AUR	0.32	-0.05	0.58	0.52	0.46		0.4	-0.59	0.55	-0.13	AUR
CNDT	0.45	0.33	0.25	0.24	-0.12	0.4		-0.07	0.3	0.02	CNDT
FIS	0.05	0.5	-0.54	-0.82	-0.57	-0.59	-0.07		-0.64	0.53	FIS
KD	0.39	-0.29	0.62	0.82	0.16	0.55	0.3	-0.64		-0.07	KD
DXC	0.49	0.35	0.12	-0.4	-0.24	-0.13	0.02	0.53	-0.07		DXC
	EPAM	INFY	CTSH	NOTE	INOD	AUR	CNDT	FIS	KD	DXC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

KD	+ 0.82	NOTE
KD	+ 0.62	CTSH
CTSH	+ 0.61	EPAM
NOTE	+ 0.6	CTSH
AUR	+ 0.58	CTSH
INOD	+ 0.56	CTSH

High negative correlations

FIS	- 0.82	NOTE
KD	- 0.64	FIS
FIS	- 0.59	AUR
FIS	- 0.57	INOD
FIS	- 0.54	CTSH
NOTE	- 0.49	INFY

Risk-Adjusted Indicators

There is a big difference between International Stock performing well and International Business 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 International Business' 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
EPAM	1.49	(0.17)	0.00	(0.14)	0.00	0.00	3.22	(2.49)	17.37
INFY	1.02	(0.05)	0.00	(0.11)	0.00	0.00	2.17	(2.08)	9.55
CTSH	0.88	0.15	0.12	0.23	1.15	(0.94)	1.70	(1.79)	7.23
NOTE	6.96	1.16	0.16	0.43	6.40	(8.54)	20.00	(10.48)	43.16
INOD	5.14	0.95	0.16	0.93	5.70	(6.07)	13.08	(10.65)	33.89
AUR	6.18	0.91	0.16	0.39	5.34	(8.41)	14.76	(10.30)	56.64
CNDT	2.23	(0.06)	0.00	(0.13)	0.00	0.00	3.05	(4.23)	18.33
FIS	1.02	(0.34)	0.00	(2.62)	0.00	0.00	1.65	(2.80)	13.87
KD	1.83	0.47	0.24	0.31	1.54	(2.19)	4.84	(3.31)	17.53
DXC	1.71	(0.09)	0.00	(0.06)	0.00	0.00	3.17	(4.78)	14.69

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC