Thoughtworks Holding Correlations

Summary

TWKSDelisted Stock

USD 4.47 0.00 0.00%

The current 90-days correlation between Thoughtworks Holding and ExlService Holdings is 0.03 (i.e., Significant diversification). The correlation of Thoughtworks Holding 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.

Thoughtworks Holding Correlation With Market

Average diversification

The correlation between Thoughtworks Holding and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thoughtworks Holding and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving against Thoughtworks Stock

0.41	SHLS	Shoals Technologies	Pair Corr
0.4	ACHR	Archer Aviation	Pair Corr
0.38	ZVIA	Zevia Pbc	Pair Corr
0.34	AAL	American Airlines Earnings Call This Week	Pair Corr
0.52	RUM	Rumble Inc Buyout Trend	Pair Corr
0.52	KULR	KULR Technology Group	Pair Corr
0.45	SATX	SatixFy Communications	Pair Corr
0.44	AVGO	Broadcom Aggressive Push	Pair Corr
0.43	STI	Solidion Technology Symbol Change	Pair Corr
0.42	TNXP	Tonix Pharmaceuticals	Pair Corr
0.36	GOOGL	Alphabet Class A	Pair Corr
0.35	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.34	JBL	Jabil Circuit	Pair Corr

Related Correlations Analysis

	EXLS	G	ASGN	TTEC	SRT	CNXC	WNS	IT	HCKT	TASK
EXLS		0.92	-0.35	-0.08	0.0	-0.2	0.33	-0.08	0.92	0.51	EXLS
G	0.92		-0.33	-0.08	0.0	-0.2	0.46	0.05	0.9	0.44	G
ASGN	-0.35	-0.33		0.1	0.0	0.3	0.43	0.83	-0.41	-0.24	ASGN
TTEC	-0.08	-0.08	0.1		0.0	-0.02	0.36	0.11	0.0	-0.37	TTEC
SRT	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SRT
CNXC	-0.2	-0.2	0.3	-0.02	0.0		-0.3	0.02	-0.26	0.11	CNXC
WNS	0.33	0.46	0.43	0.36	0.0	-0.3		0.67	0.34	-0.06	WNS
IT	-0.08	0.05	0.83	0.11	0.0	0.02	0.67		-0.11	-0.23	IT
HCKT	0.92	0.9	-0.41	0.0	0.0	-0.26	0.34	-0.11		0.58	HCKT
TASK	0.51	0.44	-0.24	-0.37	0.0	0.11	-0.06	-0.23	0.58		TASK
	EXLS	G	ASGN	TTEC	SRT	CNXC	WNS	IT	HCKT	TASK

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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	+ 0.92	EXLS
HCKT	+ 0.92	EXLS
HCKT	+ 0.9	G
IT	+ 0.83	ASGN
IT	+ 0.67	WNS
TASK	+ 0.58	HCKT

High negative correlations

HCKT	- 0.41	ASGN
TASK	- 0.37	TTEC
ASGN	- 0.35	EXLS
ASGN	- 0.33	G
WNS	- 0.3	CNXC
HCKT	- 0.26	CNXC

Risk-Adjusted Indicators

There is a big difference between Thoughtworks Stock performing well and Thoughtworks Holding 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 Thoughtworks Holding'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
EXLS	1.05	0.25	0.22	0.57	0.81	(1.31)	2.61	(1.60)	9.94
G	1.05	0.21	0.18	0.38	0.92	(1.27)	2.65	(1.79)	12.64
ASGN	1.40	(0.15)	0.00	(0.24)	0.00	0.00	2.35	(3.35)	13.33
TTEC	2.55	(0.49)	0.00	(0.65)	0.00	0.00	5.41	(4.90)	17.01
SRT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNXC	2.09	0.09	0.04	0.12	2.28	(2.57)	6.38	(4.12)	16.37
WNS	1.73	(0.06)	0.00	(0.08)	0.00	0.00	2.95	(4.07)	12.61
IT	0.81	(0.05)	0.00	(0.09)	0.00	0.00	1.67	(2.65)	7.71
HCKT	1.29	0.23	0.18	0.15	1.17	(1.51)	1.76	(2.10)	21.66
TASK	3.22	0.63	0.11	0.37	4.81	(3.20)	9.26	(6.22)	40.44

Thoughtworks Holding Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Thoughtworks Holding stock to make a market-neutral strategy. Peer analysis of Thoughtworks Holding could also be used in its relative valuation, which is a method of valuing Thoughtworks Holding by comparing valuation metrics with similar companies.

ExlService Holdings Genpact Limited ASGN Inc TTEC Holdings StarTek Concentrix WNS Holdings Gartner The Hackett Group Taskus Inc Perficient Science Applications International CLARIVATE PLC American Airlines Group Alcoa Corp

Risk & Return

Correlation

Thoughtworks Holding Corporate Management

Sai Mandapaty	Chief Officer	Profile
Xiao Guo	CEO Director	Profile
Christopher Murphy	Chief America	Profile
Martin Fowler	Chief Scientist	Profile
Rebecca Parsons	Chief Officer	Profile
Sudhir Tiwari	Global Center	Profile

Still Interested in Thoughtworks Holding?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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