Wipro Limited Correlations

WIT Stock

USD 6.98 0.19 2.80%

The current 90-days correlation between Wipro Limited ADR and Cognizant Technology Solutions is 0.43 (i.e., Very weak diversification). The correlation of Wipro Limited 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.

Wipro Limited Correlation With Market

Very weak diversification

The correlation between Wipro Limited ADR and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wipro Limited ADR and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wipro Limited ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Wipro Stock

0.84	FI	Fiserv,	Pair Corr
0.76	IT	Gartner	Pair Corr
0.71	KD	Kyndryl Holdings Tech Boost	Pair Corr
0.67	DMRC	Digimarc Tech Boost	Pair Corr
0.73	SAIHW	SAIHEAT Limited Symbol Change	Pair Corr
0.67	EPAM	EPAM Systems	Pair Corr
0.73	WEBB	Web Global Holdings	Pair Corr
0.61	AUR	Aurora Innovation Buyout Trend	Pair Corr
0.73	UIS	Unisys	Pair Corr
0.64	VYX	NCR Voyix	Pair Corr
0.83	GDYN	Grid Dynamics Holdings	Pair Corr
0.62	WYY	Widepoint C Trending	Pair Corr
0.7	GLOB	Globant SA	Pair Corr
0.71	HCKT	Hackett Group	Pair Corr
0.63	IBEX	IBEX	Pair Corr
0.62	LDOS	Leidos Holdings	Pair Corr
0.66	AUROW	Aurora Innovation Tech Boost	Pair Corr

Moving against Wipro Stock

0.74	GMM	Global Mofy Metaverse	Pair Corr
0.62	XRX	Xerox Corp	Pair Corr
0.35	INFY	Infosys Ltd ADR	Pair Corr
0.33	JFU	9F Inc	Pair Corr
0.75	NOTE	FiscalNote Holdings	Pair Corr
0.66	NABL	N Able Inc	Pair Corr
0.66	NTRP	NextTrip Symbol Change	Pair Corr
0.63	BNAIW	Brand Engagement Network Symbol Change	Pair Corr

Related Correlations Analysis

	CTSH	ACN	FISV	IT	INFY	BR	CDW	WNS	TASK	G
CTSH		0.32	-0.04	0.54	0.11	0.66	-0.37	0.23	0.68	0.77	CTSH
ACN	0.32		0.52	0.73	-0.06	0.67	-0.19	-0.72	-0.07	0.26	ACN
FISV	-0.04	0.52		0.43	-0.45	0.23	-0.02	-0.59	0.02	-0.06	FISV
IT	0.54	0.73	0.43		-0.22	0.76	-0.39	-0.54	0.3	0.56	IT
INFY	0.11	-0.06	-0.45	-0.22		-0.16	0.58	0.4	-0.28	-0.18	INFY
BR	0.66	0.67	0.23	0.76	-0.16		-0.67	-0.39	0.49	0.84	BR
CDW	-0.37	-0.19	-0.02	-0.39	0.58	-0.67		0.24	-0.56	-0.75	CDW
WNS	0.23	-0.72	-0.59	-0.54	0.4	-0.39	0.24		0.31	0.03	WNS
TASK	0.68	-0.07	0.02	0.3	-0.28	0.49	-0.56	0.31		0.76	TASK
G	0.77	0.26	-0.06	0.56	-0.18	0.84	-0.75	0.03	0.76		G
	CTSH	ACN	FISV	IT	INFY	BR	CDW	WNS	TASK	G

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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	+ 0.84	BR
G	+ 0.77	CTSH
BR	+ 0.76	IT
G	+ 0.76	TASK
IT	+ 0.73	ACN
TASK	+ 0.68	CTSH

High negative correlations

G	- 0.75	CDW
WNS	- 0.72	ACN
CDW	- 0.67	BR
WNS	- 0.59	FISV
TASK	- 0.56	CDW
WNS	- 0.54	IT

Risk-Adjusted Indicators

There is a big difference between Wipro Stock performing well and Wipro Limited 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 Wipro Limited'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
CTSH	0.95	(0.07)	(0.03)	0.06	1.44	(0.86)	1.93	(1.89)	9.84
ACN	1.02	0.04	0.01	0.18	1.52	(1.05)	1.72	(2.20)	10.10
FISV	1.05	(0.06)	0.00	(1.12)	0.00	0.00	2.14	(1.80)	9.17
IT	0.80	0.00	0.00	0.12	1.06	(0.75)	1.37	(2.06)	7.23
INFY	0.94	(0.06)	(0.06)	0.05	1.11	(1.09)	1.81	(2.11)	4.88
BR	0.68	0.08	0.02	0.27	0.57	(0.79)	1.66	(1.26)	5.12
CDW	1.41	(0.51)	0.00	(0.22)	0.00	0.00	2.02	(3.50)	14.62
WNS	1.64	(0.30)	0.00	(0.20)	0.00	0.00	2.95	(3.12)	13.48
TASK	2.45	0.05	0.02	0.15	4.16	(2.54)	4.93	(4.81)	40.44
G	0.98	0.17	0.14	0.32	0.81	(1.12)	2.64	(1.63)	11.64

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