Macroaxis: Personalized Investing

Personalized Investing and

Digital Wealth Optimization

Benchmark  United States  NYSE  10,875   9.9912 Index Moved Up 0.092%  


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Collecting data for ACN and IGTE ...

Correlation analysis between Accenture and iGATE  

    
Investment horizon:  
  30 Days    Login   to change
  
This module allows you to analyze existing cross correlation between Accenture plc and iGATE Corporation. You can compare the effects of market volatilities on Accenture and iGATE and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Accenture with a short position of iGATE. Please also check ongoing floating volatility patterns of Accenture and iGATE.
 Accenture plc  vs   iGATE Corp.
Daily Returns (%)
IGTE   ACN   
Benchmark  Embed   Timeline 
Considering 30-days investment horizon, Accenture plc is expected to generate 1.27 times more return on investment than iGATE. However, Accenture is 1.27 times more volatile than iGATE Corporation. It trades about 0.11 of its potential returns per unit of risk. iGATE Corporation is currently generating about 0.03 per unit of risk. If you would invest  9,030  in Accenture plc on February 26, 2015 and sell it today you would earn a total of  364.00  from holding Accenture plc or generate 4.03% return on investment over 30 days.

Correlation Coefficient

-0.34

Parameters

Time Period1 Month [change]
DirectionNegative ACN Moved Down vs IGTE
StrengthInsignificant
Accuracy95.65%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents amount of risk that can be diversified away by holding Accenture plc and iGATE Corp. in the same portfolio assuming nothing else is changed

Historical Performance Chart

Comparative Volatility

Predicted Return Density  
Benchmark  Embed   Returns 

Accenture plc

  
Compared with the overall equity markets, risk-adjusted returns on investments in Accenture plc are ranked lower than 7 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Accenture

International Business Machines Corporation vs. Accenture plc
Wipro Ltd vs. Accenture plc
Fidelity National Information Services Inc vs. Accenture plc
Xerox Corporation vs. Accenture plc
ServiceNow Inc vs. Accenture plc
Computer Sciences Corporation vs. Accenture plc
INFINITE COMPUTER SOL LTD vs. Accenture plc
IMS Health Holdings Inc vs. Accenture plc
Rackspace Hosting Inc vs. Accenture plc
  

iGATE

  
Compared with the overall equity markets, risk-adjusted returns on investments in iGATE Corporation are ranked lower than 1 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for iGATE

International Business Machines Corporation vs. iGATE Corporation
Accenture plc vs. iGATE Corporation
Wipro Ltd vs. iGATE Corporation
Fidelity National Information Services Inc vs. iGATE Corporation
Xerox Corporation vs. iGATE Corporation
ServiceNow Inc vs. iGATE Corporation
Computer Sciences Corporation vs. iGATE Corporation
INFINITE COMPUTER SOL LTD vs. iGATE Corporation
IMS Health Holdings Inc vs. iGATE Corporation
Rackspace Hosting Inc vs. iGATE Corporation