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Benchmark  United States  NYSE  11,046   36.629 Index Moved Up 0.33%  


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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   
 
Change Benchmark  Embed  Timeline 
Considering 30-days investment horizon, Accenture is expected to generate 2.23 times less return on investment than iGATE. But when comparing it to its historical volatility, Accenture plc is 2.39 times less risky than iGATE. It trades about 0.14 of its potential returns per unit of risk. iGATE Corporation is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest  3,568  in iGATE Corporation on July 31, 2014 and sell it today you would earn a total of  174.00  from holding iGATE Corporation or generate 4.88% return on investment over 30 days.

Correlation Coefficient

0.02
Parameters
Time Period1 Month [change]
DirectionPositive IGTE Moved Up vs ACN
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Significant 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
Investing ideals could easily outperform a given market if properly optimized
  
iGATE Report  
  
Accenture Report  

Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
IGTE   ACN   

Accenture plc

  
Compared with the overall equity markets, risk-adjusted returns on investments in Accenture plc are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

Pair trading matchups for Accenture

International Business Machines Corporation vs. Accenture plc
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Xerox Corporation vs. Accenture plc
Computer Sciences Corporation vs. Accenture plc
IMS Health Holdings Inc vs. Accenture plc
ServiceNow Inc vs. Accenture plc
Gartner Inc vs. Accenture plc
NCR Corp vs. Accenture plc
  

iGATE

  
Compared with the overall equity markets, risk-adjusted returns on investments in iGATE Corporation are ranked lower than 7 (%) 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
Computer Sciences Corporation vs. iGATE Corporation
IMS Health Holdings Inc vs. iGATE Corporation
ServiceNow Inc vs. iGATE Corporation
Gartner Inc vs. iGATE Corporation
NCR Corp vs. iGATE Corporation


 

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