Wipro Limited Correlations

WIT Stock

USD 2.74 0.01 0.37%

The current 90-days correlation between Wipro Limited ADR and Cognizant Technology Solutions is 0.41 (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

Modest diversification

The correlation between Wipro Limited ADR and DJI is 0.29 (i.e., Modest 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.

Build AI portfolio with Wipro Stock

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

0.67	KD	Kyndryl Holdings Sell-off Trend	Pair Corr
0.65	FDM	FDM Group Holdings	Pair Corr
0.77	FCSSOFT	FCS Software Solutions	Pair Corr
0.75	CAMS	Computer Age Management	Pair Corr
0.67	ACN	Accenture plc	Pair Corr
0.79	COFORGE	Coforge Limited	Pair Corr
0.63	DOX	Amdocs	Pair Corr
0.72	DXC	DXC Technology	Pair Corr
0.69	GIB	CGI Inc	Pair Corr
0.71	GLE	Global Engine Group	Pair Corr
0.72	ONWARDTEC	Onward Technologies Earnings Call Tomorrow	Pair Corr
0.67	UIS	Unisys	Pair Corr

Moving against Wipro Stock

0.52	002184	Shanghai HiTech Control	Pair Corr
0.4	DUG	DUG Technology	Pair Corr
0.37	002642	Ronglian Group	Pair Corr
0.31	MI	NFT Limited	Pair Corr
0.36	301165	Ruijie Networks	Pair Corr
0.33	300002	Beijing Ultrapower	Pair Corr
0.52	002373	China TransInfo Tech	Pair Corr
0.37	CGO	CPT Global	Pair Corr
0.35	603613	Beijing United Infor	Pair Corr
0.31	WYY	Widepoint C	Pair Corr

Related Correlations Analysis

	INFY	CTSH	WNS	CLVT	SAY	IBN	RDY	HDB
INFY		0.73	-0.32	0.5	-0.36	0.47	0.65	0.38	INFY
CTSH	0.73		-0.77	0.67	-0.59	0.78	0.31	0.74	CTSH
WNS	-0.32	-0.77		-0.45	0.75	-0.86	0.08	-0.88	WNS
CLVT	0.5	0.67	-0.45		-0.04	0.53	0.5	0.41	CLVT
SAY	-0.36	-0.59	0.75	-0.04		-0.66	0.07	-0.74	SAY
IBN	0.47	0.78	-0.86	0.53	-0.66		0.2	0.96	IBN
RDY	0.65	0.31	0.08	0.5	0.07	0.2		0.0	RDY
HDB	0.38	0.74	-0.88	0.41	-0.74	0.96	0.0		HDB
	INFY	CTSH	WNS	CLVT	SAY	IBN	RDY	HDB

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

HDB	+ 0.96	IBN
IBN	+ 0.78	CTSH
SAY	+ 0.75	WNS
HDB	+ 0.74	CTSH
CTSH	+ 0.73	INFY
CLVT	+ 0.67	CTSH

High negative correlations

HDB	- 0.88	WNS
IBN	- 0.86	WNS
WNS	- 0.77	CTSH
HDB	- 0.74	SAY
IBN	- 0.66	SAY
SAY	- 0.59	CTSH

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
INFY	1.18	(0.18)	0.00	(0.15)	0.00	0.00	2.47	(2.81)	7.05
CTSH	1.09	(0.23)	0.00	(0.14)	0.00	0.00	1.82	(2.47)	7.12
WNS	0.09	0.02	(0.26)	1.83	0.00	(0.11)	0.24	(0.15)	0.91
CLVT	1.98	(0.35)	0.00	(0.12)	0.00	0.00	3.11	(4.44)	10.41
SAY	0.19	0.02	(0.11)	0.27	0.16	(0.22)	0.44	(0.43)	1.30
IBN	0.64	(0.08)	0.00	1.80	0.00	0.00	1.04	(1.40)	4.87
RDY	0.91	(0.07)	0.00	(0.23)	0.00	0.00	2.03	(1.97)	5.80
HDB	0.74	(0.09)	0.00	(2.70)	0.00	0.00	1.57	(1.57)	6.13

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