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Benchmark  United States  NYSE  10,985   65.921 Index Moved Down -0.6%  


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Collecting data for ACN and IGTE ...

Correlation analysis between Accenture and iGATE Correlation analysis between Accenture and iGATE

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Investment horizon:  
  30 Days    Login   to change
  
Run Correlation
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 is expected to generate 3.77 times less return on investment than iGATE. But when comparing it to its historical volatility, Accenture plc is 1.75 times less risky than iGATE. It trades about 0.37 of its potential returns per unit of risk. iGATE Corporation is currently generating about 0.8 of returns per unit of risk over similar time horizon. If you would invest  3,564  in iGATE Corporation on February 2, 2015 and sell it today you would earn a total of  802  from holding iGATE Corporation or generate 22.5% return on investment over 30 days.

Correlation Coefficient

-0.06

Parameters

Time Period1 Month [change]
DirectionNegative ACN Moved Down vs IGTE
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

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

Directional Movement
Moving Averages
Bollinger Bands
Commodity Channel
Money Flow Index
Pattern Detection
On Balance Volume
Price Depth
Balance Of Power
Tangent Of Price Move
Price Ceiling
Rate of Change
Mean
Deviation		Jensen
Alpha		Sortino
Ratio		Treynor
Ratio		Semi
Deviation		Information
Ratio		Expected
Shortfall		Potential
Upside		Value
At Risk		Maximum
Drawdown
ACN
 0.75  0.21  0.00  0.36  0.00  0.20  0.00  2.14 (0.64) 3.40 
Backtest
IGTE
 1.15  0.93  0.00  2.32  0.00  0.64  0.00  2.42 (1.03) 5.37 
Backtest

Comparative Volatility

Predicted Return Density  
 
Benchmark  Embed   Returns 

Accenture plc

Premiums
 
Correlation
 
Profile
Compared with the overall equity markets, risk-adjusted returns on investments in Accenture plc are ranked lower than 24 (%) of all global equities and portfolios over the last 30 days.
Check Performance
Backtest
Predict Price

Pair trading matchups for Accenture

International Business Machines Corporation vs. Accenture plc
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Computer Sciences Corporation vs. Accenture plc
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INFINITE COMPUTER SOL LTD vs. Accenture plc
Gartner Inc vs. Accenture plc
  

iGATE

Premiums
 
Correlation
 
Profile
Compared with the overall equity markets, risk-adjusted returns on investments in iGATE Corporation are ranked lower than 52 (%) of all global equities and portfolios over the last 30 days.
Check Performance
Backtest
Predict Price

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
IMS Health Holdings Inc vs. iGATE Corporation
INFINITE COMPUTER SOL LTD vs. iGATE Corporation
Gartner Inc vs. iGATE Corporation


 

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