Cognizant Technology Correlations

COZ Stock  EUR 76.10  0.10  0.13%   
The current 90-days correlation between Cognizant Technology and AIR PRODCHEMICALS is 0.11 (i.e., Average 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

Modest diversification

The correlation between Cognizant Technology Solutions and DJI is 0.28 (i.e., Modest 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.
  
The ability to find closely correlated positions to Cognizant Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cognizant Technology when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Cognizant Technology - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Cognizant Technology Solutions to buy it.

Moving together with Cognizant Stock

  0.73CSA Accenture plcPairCorr
  0.66IOY Infosys LimitedPairCorr

Moving against Cognizant Stock

  0.82CGM Capgemini SEPairCorr
  0.78D7GA NEL ASA ADR30PairCorr
  0.76LYV Lundin Energy ABPairCorr
  0.7CDW CDW CorporationPairCorr
  0.41OS3 Otello ASAPairCorr
  0.39FUJA FUJITSU LTD ADRPairCorr
  0.36DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

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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   
AP3TC7
AP3WE7
WE7TC7
AP3NSC
LY1WE7
PCHPXXA1
  
High negative correlations   
XXA1TC7
AP3XXA1
AP3PCHP
WE7PCHP
PCHPTC7
XXA1NSC

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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Cognizant Technology without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Cognizant Technology Corporate Management

Elected by the shareholders, the Cognizant Technology's board of directors comprises two types of representatives: Cognizant Technology inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Cognizant. The board's role is to monitor Cognizant Technology's management team and ensure that shareholders' interests are well served. Cognizant Technology's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Cognizant Technology's outside directors are responsible for providing unbiased perspectives on the board's policies.