Conduent Correlations

CNDT Stock

USD 1.60 0.17 11.89%

The current 90-days correlation between Conduent and Xerox Corp is 0.3 (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

Very good diversification

The correlation between Conduent and DJI is -0.47 (i.e., Very good 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.

Build AI portfolio with Conduent Stock

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 small area income & poverty estimates.

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

Moving together with Conduent Stock

0.82	G	Genpact Limited	Pair Corr
0.91	BR	Broadridge Financial	Pair Corr
0.63	WLN	Worldline SA Earnings Call This Week	Pair Corr
0.79	EXLS	ExlService Holdings Earnings Call This Week	Pair Corr
0.74	IBM	International Business	Pair Corr
0.82	FOUR	Shift4 Payments	Pair Corr
0.64	III	Information Services	Pair Corr
0.66	XYZ	Block Inc Earnings Call This Week	Pair Corr
0.63	YXT	YXTCOM GROUP HOLDING	Pair Corr
0.81	IIIV	i3 Verticals	Pair Corr
0.79	CPU	Computershare	Pair Corr
0.78	ADYEN	Adyen NV	Pair Corr
0.79	AFRM	Affirm Holdings	Pair Corr
0.73	SABR	Sabre Corpo	Pair Corr
0.85	ALHYP	Hipay Group SA	Pair Corr
0.85	TASK	Taskus Inc	Pair Corr

Moving against Conduent Stock

0.82	CCA	Change Financial Earnings Call This Week	Pair Corr
0.75	SHF	SNP Schneider Neurei	Pair Corr
0.73	KC	Kingsoft Cloud Holdings	Pair Corr
0.7	GDS	GDS Holdings	Pair Corr
0.47	IMXI	International Money	Pair Corr
0.89	EYE	Eagle Eye Solutions	Pair Corr
0.86	SHG	Shinhan Financial	Pair Corr
0.83	KB	KB Financial Group	Pair Corr
0.74	PAGS	PagSeguro Digital	Pair Corr
0.71	CASS	Cass Information Systems	Pair Corr
0.67	CSGS	CSG Systems International	Pair Corr
0.63	D6H	DATAGROUP SE	Pair Corr

Related Correlations Analysis

	XRX	SDHI	FEIM	III	LSAK	RPAY	RXT	RMNI	EGAN	IBEX
XRX		-0.42	-0.42	0.55	-0.42	0.42	0.65	0.85	0.44	0.55	XRX
SDHI	-0.42		0.22	-0.36	0.13	-0.2	-0.5	-0.53	-0.09	-0.33	SDHI
FEIM	-0.42	0.22		0.35	0.91	0.47	-0.35	-0.19	-0.01	0.31	FEIM
III	0.55	-0.36	0.35		0.35	0.81	0.36	0.78	0.31	0.88	III
LSAK	-0.42	0.13	0.91	0.35		0.41	-0.31	-0.18	-0.07	0.27	LSAK
RPAY	0.42	-0.2	0.47	0.81	0.41		0.27	0.59	0.41	0.81	RPAY
RXT	0.65	-0.5	-0.35	0.36	-0.31	0.27		0.7	0.38	0.36	RXT
RMNI	0.85	-0.53	-0.19	0.78	-0.18	0.59	0.7		0.47	0.76	RMNI
EGAN	0.44	-0.09	-0.01	0.31	-0.07	0.41	0.38	0.47		0.5	EGAN
IBEX	0.55	-0.33	0.31	0.88	0.27	0.81	0.36	0.76	0.5		IBEX
	XRX	SDHI	FEIM	III	LSAK	RPAY	RXT	RMNI	EGAN	IBEX

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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

LSAK	+ 0.91	FEIM
IBEX	+ 0.88	III
RMNI	+ 0.85	XRX
RPAY	+ 0.81	III
IBEX	+ 0.81	RPAY
RMNI	+ 0.78	III

High negative correlations

RMNI	- 0.53	SDHI
RXT	- 0.5	SDHI
LSAK	- 0.42	XRX
FEIM	- 0.42	XRX
SDHI	- 0.42	XRX
III	- 0.36	SDHI

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
XRX	3.64	(0.67)	0.00	(0.18)	0.00	0.00	7.60	(7.72)	24.08
SDHI	0.11	(0.01)	(0.18)	1.40	0.17	(0.26)	0.29	(0.49)	1.36
FEIM	3.72	0.99	0.23	0.97	3.68	(4.16)	7.87	(6.11)	38.17
III	1.82	(0.23)	0.00	(0.10)	0.00	0.00	3.22	(4.95)	13.35
LSAK	1.87	0.21	0.09	0.85	1.72	(2.29)	4.99	(3.01)	13.46
RPAY	2.21	(0.20)	0.00	(0.10)	0.00	0.00	3.79	(5.88)	16.12
RXT	7.67	1.68	0.35	0.68	4.29	(16.67)	4.76	(8.20)	24.65
RMNI	1.50	(0.42)	0.00	22.30	0.00	0.00	2.43	(3.53)	9.53
EGAN	2.41	(0.33)	0.00	(0.11)	0.00	0.00	5.04	(5.16)	15.86
IBEX	1.62	(0.34)	0.00	(0.26)	0.00	0.00	2.51	(4.87)	12.38

Conduent Corporate Management

Michael Krawitz	General VP	Profile
Mark Prout	Chief EVP	Profile
Joshua CFA	Head FPA	Profile
George Abate	Principal Officer	Profile
Rob Houser	Global Devel	Profile
Rishi Pradhan	Chief Malaysia	Profile
Rahul Gupta	Chief Technology and Product Officer	Profile

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