Wipro Limited Correlations

WIT Stock

USD 3.03 0.03 1.00%

The current 90-days correlation between Wipro Limited ADR and Cognizant Technology Solutions is 0.31 (i.e., Weak 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

Weak diversification

The correlation between Wipro Limited ADR and DJI is 0.33 (i.e., Weak 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

0.78	IT	Gartner	Pair Corr
0.73	KD	Kyndryl Holdings	Pair Corr
0.71	EPAM	EPAM Systems	Pair Corr
0.63	EXLS	ExlService Holdings	Pair Corr
0.8	ACN	Accenture plc	Pair Corr
0.8	CDW	CDW Corp	Pair Corr
0.62	DXC	DXC Technology	Pair Corr
0.79	GIB	CGI Inc	Pair Corr
0.81	UIS	Unisys	Pair Corr
0.67	VYX	NCR Voyix	Pair Corr
0.84	GDYN	Grid Dynamics Holdings	Pair Corr
0.76	XRX	Xerox Corp	Pair Corr
0.83	GLOB	Globant SA	Pair Corr

Moving against Wipro Stock

0.51	III	Information Services Tech Boost	Pair Corr
0.46	ARBB	ARB IOT Group	Pair Corr
0.45	JKHY	Jack Henry Associates	Pair Corr

Related Correlations Analysis

	CTSH	ACN	FISV	IT	INFY	BR	CDW	WNS	TASK	G
CTSH		0.59	0.0	0.37	-0.13	0.77	0.38	0.56	-0.22	0.85	CTSH
ACN	0.59		0.0	0.87	0.62	0.47	0.82	0.06	0.51	0.23	ACN
FISV	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	FISV
IT	0.37	0.87	0.0		0.59	0.46	0.9	0.06	0.6	0.07	IT
INFY	-0.13	0.62	0.0	0.59		-0.22	0.45	-0.65	0.82	-0.53	INFY
BR	0.77	0.47	0.0	0.46	-0.22		0.48	0.69	-0.18	0.79	BR
CDW	0.38	0.82	0.0	0.9	0.45	0.48		0.2	0.48	0.19	CDW
WNS	0.56	0.06	0.0	0.06	-0.65	0.69	0.2		-0.45	0.75	WNS
TASK	-0.22	0.51	0.0	0.6	0.82	-0.18	0.48	-0.45		-0.54	TASK
G	0.85	0.23	0.0	0.07	-0.53	0.79	0.19	0.75	-0.54		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

CDW	+ 0.9	IT
IT	+ 0.87	ACN
G	+ 0.85	CTSH
CDW	+ 0.82	ACN
TASK	+ 0.82	INFY
G	+ 0.79	BR

High negative correlations

WNS	- 0.65	INFY
G	- 0.54	TASK
G	- 0.53	INFY
TASK	- 0.45	WNS
BR	- 0.22	INFY
TASK	- 0.22	CTSH

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	0.97	(0.03)	0.00	(0.13)	0.00	0.00	1.70	(3.08)	7.78
ACN	1.24	(0.17)	0.00	(0.25)	0.00	0.00	1.69	(2.71)	14.32
FISV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IT	1.18	(0.18)	0.00	(0.26)	0.00	0.00	1.93	(3.01)	8.91
INFY	1.05	(0.33)	0.00	(0.64)	0.00	0.00	1.78	(2.48)	9.17
BR	0.87	0.05	0.05	0.00	1.38	(0.81)	1.51	(2.63)	5.12
CDW	1.28	(0.03)	0.00	(0.10)	0.00	0.00	2.47	(3.09)	7.33
WNS	1.87	0.52	0.25	0.31	1.70	(2.22)	4.57	(3.21)	26.44
TASK	2.28	(0.38)	0.00	(0.49)	0.00	0.00	3.84	(6.24)	16.92
G	1.12	0.21	0.17	0.31	1.24	(1.20)	2.24	(2.31)	14.50

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