Cognizant Technology Correlations

CTSH Stock

USD 79.54 0.68 0.86%

The current 90-days correlation between Cognizant Technology and CGI Inc is 0.43 (i.e., Very weak diversification). The correlation of Cognizant Technology 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.

Cognizant Technology Correlation With Market

Poor diversification

The correlation between Cognizant Technology Solutions and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cognizant Technology Solutions 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 Cognizant Technology Solutions. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Cognizant Stock

0.66	KD	Kyndryl Holdings Tech Boost	Pair Corr
0.71	DTST	Data Storage Corp	Pair Corr
0.82	EPAM	EPAM Systems	Pair Corr
0.79	DXC	DXC Technology	Pair Corr
0.63	III	Information Services	Pair Corr
0.62	UIS	Unisys	Pair Corr
0.62	VYX	NCR Voyix	Pair Corr
0.64	GDYN	Grid Dynamics Holdings	Pair Corr
0.8	HCKT	Hackett Group	Pair Corr

Moving against Cognizant Stock

0.31	GMM	Global Mofy Metaverse	Pair Corr
0.5	NABL	N Able Inc	Pair Corr
0.42	NTRP	NextTrip Symbol Change	Pair Corr
0.34	NOTE	FiscalNote Holdings	Pair Corr

Related Correlations Analysis

	DTST	USIO	ARBB	NOTE	GIB	CTM	SLNH	HWNI	TTEC	CLPS
DTST		0.43	0.38	-0.3	-0.23	0.29	0.2	-0.24	-0.11	-0.36	DTST
USIO	0.43		0.06	0.07	-0.52	0.29	0.34	-0.24	-0.5	-0.74	USIO
ARBB	0.38	0.06		-0.73	-0.46	-0.13	0.37	-0.58	-0.01	-0.31	ARBB
NOTE	-0.3	0.07	-0.73		0.46	0.26	-0.02	0.75	-0.02	-0.02	NOTE
GIB	-0.23	-0.52	-0.46	0.46		0.07	-0.39	0.51	0.28	0.6	GIB
CTM	0.29	0.29	-0.13	0.26	0.07		-0.05	0.15	-0.29	-0.26	CTM
SLNH	0.2	0.34	0.37	-0.02	-0.39	-0.05		-0.21	0.17	-0.44	SLNH
HWNI	-0.24	-0.24	-0.58	0.75	0.51	0.15	-0.21		0.12	0.28	HWNI
TTEC	-0.11	-0.5	-0.01	-0.02	0.28	-0.29	0.17	0.12		0.4	TTEC
CLPS	-0.36	-0.74	-0.31	-0.02	0.6	-0.26	-0.44	0.28	0.4		CLPS
	DTST	USIO	ARBB	NOTE	GIB	CTM	SLNH	HWNI	TTEC	CLPS

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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

HWNI	+ 0.75	NOTE
CLPS	+ 0.6	GIB
HWNI	+ 0.51	GIB
GIB	+ 0.46	NOTE
USIO	+ 0.43	DTST
CLPS	+ 0.4	TTEC

High negative correlations

CLPS	- 0.74	USIO
NOTE	- 0.73	ARBB
HWNI	- 0.58	ARBB
GIB	- 0.52	USIO
TTEC	- 0.5	USIO
GIB	- 0.46	ARBB

Risk-Adjusted Indicators

There is a big difference between Cognizant Stock performing well and Cognizant Technology 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 Cognizant Technology'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
DTST	3.25	0.02	0.02	0.13	5.62	(3.40)	7.47	(5.84)	43.14
USIO	1.53	(0.03)	(0.06)	(0.07)	1.77	(2.10)	3.70	(3.55)	9.09
ARBB	8.33	0.95	0.11	0.39	8.60	(12.39)	12.00	(14.55)	124.90
NOTE	2.79	(0.66)	0.00	(0.21)	0.00	0.00	6.03	(6.38)	20.02
GIB	0.80	(0.02)	(0.06)	0.08	1.29	(0.71)	1.39	(1.53)	6.77
CTM	2.33	0.10	(0.02)	(0.01)	3.21	(8.56)	6.25	(6.25)	33.19
SLNH	5.90	(0.74)	0.00	(0.04)	0.00	0.00	16.67	(10.00)	30.22
HWNI	4.17	(0.79)	0.00	(0.55)	0.00	0.00	10.13	(9.50)	24.79
TTEC	3.79	0.33	0.11	0.34	3.17	(5.12)	7.37	(4.94)	56.54
CLPS	3.11	0.49	0.08	(1.07)	3.38	(3.98)	10.23	(6.03)	24.69

Cognizant Technology Corporate Management

Katie CFA	Global Relations	Profile
Rajesh MCA	Chairman VP	Profile
Anil Cheriyan	Ex Technology	Profile
Balu Ayyar	Automation Operations	Profile

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