Concentrix Correlations

CNXC Stock

USD 30.39 0.14 0.46%

The current 90-days correlation between Concentrix and Globant SA is 0.6 (i.e., Poor diversification). The correlation of Concentrix 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.

Concentrix Correlation With Market

Very weak diversification

The correlation between Concentrix and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Concentrix and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Concentrix Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Concentrix. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

For information on how to trade Concentrix Stock refer to our How to Trade Concentrix Stock guide.

Moving together with Concentrix Stock

0.74	GFT	GFT Technologies	Pair Corr
0.72	COK	Cancom SE	Pair Corr
0.66	EEFT	Euronet Worldwide	Pair Corr
0.75	III	Information Services	Pair Corr
0.67	MMS	Maximus	Pair Corr
0.62	XYZ	Block Inc	Pair Corr
0.66	RPAY	Repay Holdings Corp	Pair Corr

Moving against Concentrix Stock

0.4	KC	Kingsoft Cloud Holdings Tech Boost	Pair Corr
0.4	VHAI	VHAI	Pair Corr
0.39	CCA	Change Financial	Pair Corr
0.37	OBS	Orbis AG	Pair Corr
0.65	BLMZ	BloomZ Ordinary Shares	Pair Corr
0.48	SYT	Softing AG	Pair Corr

Related Correlations Analysis

	GLOB	DXC	WNS	AI	BBAI	CLVT	PAGS	INOD	ASGN	FORTY
GLOB		0.61	-0.15	0.59	0.69	0.6	-0.08	0.53	0.44	0.26	GLOB
DXC	0.61		0.45	0.1	0.13	-0.02	0.16	0.04	0.78	0.47	DXC
WNS	-0.15	0.45		-0.77	-0.59	-0.82	0.7	-0.23	0.63	0.75	WNS
AI	0.59	0.1	-0.77		0.86	0.9	-0.6	0.45	-0.29	-0.52	AI
BBAI	0.69	0.13	-0.59	0.86		0.82	-0.42	0.63	-0.13	-0.27	BBAI
CLVT	0.6	-0.02	-0.82	0.9	0.82		-0.66	0.48	-0.26	-0.51	CLVT
PAGS	-0.08	0.16	0.7	-0.6	-0.42	-0.66		-0.08	0.45	0.75	PAGS
INOD	0.53	0.04	-0.23	0.45	0.63	0.48	-0.08		0.05	-0.03	INOD
ASGN	0.44	0.78	0.63	-0.29	-0.13	-0.26	0.45	0.05		0.77	ASGN
FORTY	0.26	0.47	0.75	-0.52	-0.27	-0.51	0.75	-0.03	0.77		FORTY
	GLOB	DXC	WNS	AI	BBAI	CLVT	PAGS	INOD	ASGN	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

CLVT	+ 0.9	AI
BBAI	+ 0.86	AI
CLVT	+ 0.82	BBAI
ASGN	+ 0.78	DXC
FORTY	+ 0.77	ASGN
FORTY	+ 0.75	WNS

High negative correlations

CLVT	- 0.82	WNS
AI	- 0.77	WNS
PAGS	- 0.66	CLVT
PAGS	- 0.6	AI
BBAI	- 0.59	WNS
FORTY	- 0.52	AI

Risk-Adjusted Indicators

There is a big difference between Concentrix Stock performing well and Concentrix 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 Concentrix'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
GLOB	2.49	(0.46)	0.00	(0.16)	0.00	0.00	5.74	(7.84)	18.72
DXC	2.12	(0.08)	(0.01)	0.01	3.24	(2.08)	4.74	(5.28)	17.54
WNS	0.09	0.03	(0.30)	(1.01)	0.00	(0.11)	0.24	(0.15)	0.91
AI	2.92	(0.71)	0.00	(0.19)	0.00	0.00	4.87	(5.57)	20.35
BBAI	4.92	(0.53)	0.00	(0.09)	0.00	0.00	15.08	(8.70)	29.89
CLVT	2.67	(1.03)	0.00	(0.47)	0.00	0.00	3.56	(7.01)	26.16
PAGS	2.30	0.13	0.04	0.15	3.17	(2.27)	4.80	(5.55)	11.73
INOD	3.64	(0.65)	0.00	(0.25)	0.00	0.00	10.53	(8.79)	30.46
ASGN	1.93	(0.12)	0.00	(0.03)	0.00	0.00	4.91	(3.94)	21.29
FORTY	3.50	0.27	0.03	2.17	5.75	(3.24)	7.00	(8.30)	31.35

Concentrix Corporate Management

Sara Buda	Vice Relations	Profile
Andre Valentine	Chief Officer	Profile
Philip Cassidy	Executive Strategy	Profile
Jane Fogarty	Executive Secretary	Profile
David Stein	Vice Relations	Profile
Jason Marasigan	Senior Development	Profile

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