Conduent Correlations

CNDT Stock

USD 3.85 0.11 2.94%

The current 90-days correlation between Conduent and Genpact Limited is 0.33 (i.e., Weak diversification). The correlation of Conduent 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.

Conduent Correlation With Market

Poor diversification

The correlation between Conduent and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conduent 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 Conduent. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For more information on how to buy Conduent Stock please use our How to Invest in Conduent guide.

Moving against Conduent Stock

0.33

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Pair Corr

Related Correlations Analysis

	FIS	IBM	KD	DXC	WNS	G	ASGN	CACI	PRFT	FORTY
FIS		0.49	0.33	0.1	-0.8	0.21	0.11	0.68	0.49	0.64	FIS
IBM	0.49		0.16	-0.04	-0.69	-0.02	0.17	0.27	0.12	0.06	IBM
KD	0.33	0.16		0.53	-0.13	0.89	-0.21	0.0	0.65	0.29	KD
DXC	0.1	-0.04	0.53		0.25	0.58	0.25	0.2	0.37	0.11	DXC
WNS	-0.8	-0.69	-0.13	0.25		0.03	0.03	-0.53	-0.38	-0.53	WNS
G	0.21	-0.02	0.89	0.58	0.03		-0.18	0.0	0.66	0.31	G
ASGN	0.11	0.17	-0.21	0.25	0.03	-0.18		0.6	-0.22	0.02	ASGN
CACI	0.68	0.27	0.0	0.2	-0.53	0.0	0.6		0.31	0.65	CACI
PRFT	0.49	0.12	0.65	0.37	-0.38	0.66	-0.22	0.31		0.6	PRFT
FORTY	0.64	0.06	0.29	0.11	-0.53	0.31	0.02	0.65	0.6		FORTY
	FIS	IBM	KD	DXC	WNS	G	ASGN	CACI	PRFT	FORTY

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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	+ 0.89	KD
CACI	+ 0.68	FIS
PRFT	+ 0.66	G
PRFT	+ 0.65	KD
FORTY	+ 0.65	CACI
FORTY	+ 0.64	FIS

High negative correlations

WNS	- 0.8	FIS
WNS	- 0.69	IBM
FORTY	- 0.53	WNS
CACI	- 0.53	WNS
PRFT	- 0.38	WNS
PRFT	- 0.22	ASGN

Risk-Adjusted Indicators

There is a big difference between Conduent Stock performing well and Conduent 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 Conduent'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
FIS	0.76	0.11	0.01	0.52	0.95	(0.78)	1.44	(1.35)	5.40
IBM	0.95	0.11	0.05	0.25	1.30	(0.94)	2.22	(1.70)	8.66
KD	1.68	0.36	0.26	0.34	1.15	(2.03)	3.41	(2.98)	15.71
DXC	1.78	0.04	0.02	0.16	2.09	(1.86)	3.21	(4.01)	10.75
WNS	1.64	(0.30)	0.00	(0.20)	0.00	0.00	2.95	(3.12)	13.48
G	0.98	0.17	0.14	0.32	0.81	(1.12)	2.64	(1.63)	11.64
ASGN	1.52	(0.29)	0.00	(0.02)	0.00	0.00	3.32	(3.35)	13.02
CACI	1.25	(0.09)	(0.04)	0.01	2.58	(1.08)	2.84	(4.18)	14.84
PRFT	0.10	0.01	(0.85)	1.22	0.00	(0.12)	0.23	(0.21)	0.58
FORTY	1.83	0.24	0.01	(0.24)	2.71	(2.12)	3.65	(4.95)	14.81

Conduent Corporate Management

Michael Krawitz	General VP	Profile
Mark Prout	Chief EVP	Profile
Michael McDaniel	Group Solutions	Profile
Tracy Yelencsics	Chief Officer	Profile
George Abate	Principal Officer	Profile
Giles Goodburn	VP Relations	Profile

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