Wipro Limited Correlations

WIT Stock

USD 3.38 0.03 0.88%

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

Wipro Limited Correlation With Market

Significant diversification

The correlation between Wipro Limited ADR and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wipro Limited ADR and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wipro Limited ADR. 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 Wipro Stock

0.74	EPAM	EPAM Systems	Pair Corr
0.61	EXLS	ExlService Holdings Earnings Call Tomorrow	Pair Corr
0.73	ACN	Accenture plc Sell-off Trend	Pair Corr
0.66	GIB	CGI Inc	Pair Corr
0.63	WNS	WNS Holdings	Pair Corr
0.62	MGIC	Magic Software Enter	Pair Corr

Moving against Wipro Stock

0.41	PSN	Parsons Corp	Pair Corr
0.57	VEEAW	Veea Inc Symbol Change	Pair Corr
0.5	LDOS	Leidos Holdings	Pair Corr
0.34	VYX	NCR Voyix Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	CTSH	ACN	FISV	IT	INFY	BR	CDW	WNS	TASK	G
CTSH		0.83	0.0	0.38	-0.4	0.82	0.54	0.63	-0.27	0.92	CTSH
ACN	0.83		0.0	0.62	-0.38	0.78	0.7	0.82	-0.2	0.8	ACN
FISV	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	FISV
IT	0.38	0.62	0.0		-0.29	0.7	0.72	0.76	0.0	0.42	IT
INFY	-0.4	-0.38	0.0	-0.29		-0.39	-0.53	-0.55	0.24	-0.61	INFY
BR	0.82	0.78	0.0	0.7	-0.39		0.73	0.73	-0.08	0.81	BR
CDW	0.54	0.7	0.0	0.72	-0.53	0.73		0.63	0.0	0.62	CDW
WNS	0.63	0.82	0.0	0.76	-0.55	0.73	0.63		-0.15	0.7	WNS
TASK	-0.27	-0.2	0.0	0.0	0.24	-0.08	0.0	-0.15		-0.36	TASK
G	0.92	0.8	0.0	0.42	-0.61	0.81	0.62	0.7	-0.36		G
	CTSH	ACN	FISV	IT	INFY	BR	CDW	WNS	TASK	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

G	+ 0.92	CTSH
ACN	+ 0.83	CTSH
BR	+ 0.82	CTSH
WNS	+ 0.82	ACN
G	+ 0.81	BR
G	+ 0.8	ACN

High negative correlations

G	- 0.61	INFY
WNS	- 0.55	INFY
CDW	- 0.53	INFY
INFY	- 0.4	CTSH
BR	- 0.39	INFY
INFY	- 0.38	ACN

Risk-Adjusted Indicators

There is a big difference between Wipro Stock performing well and Wipro Limited 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 Wipro Limited'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
CTSH	0.87	0.15	0.12	0.24	1.16	(0.92)	1.70	(1.79)	7.23
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
INFY	1.02	(0.06)	0.00	(0.13)	0.00	0.00	2.17	(2.08)	9.55
BR	0.73	0.06	0.05	0.11	1.06	(0.72)	1.38	(1.10)	4.90
CDW	1.17	0.05	0.03	0.07	1.65	(1.07)	2.67	(2.92)	7.33
WNS	1.89	0.17	0.07	0.10	2.10	(1.98)	4.07	(3.81)	26.44
TASK	2.68	0.11	0.03	0.08	3.47	(3.06)	9.26	(5.41)	28.38
G	1.01	0.25	0.23	0.64	0.83	(1.23)	2.33	(1.79)	13.49

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