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Benchmark  United States  NYSE  10,726   203.363 Index Moved Down -1.86%  


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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   
 
Change Benchmark  Embed  Timeline 
Considering 30-days investment horizon, Accenture plc is expected to generate 0.25 times more return on investment than iGATE. However, Accenture plc is 4.0 times less risky than iGATE. It trades about -0.2 of its potential returns per unit of risk. iGATE Corporation is currently generating about -0.16 per unit of risk. If you would invest  8,125  in Accenture plc on July 1, 2014 and sell it today you would lose (197.00) from holding Accenture plc or give up 2.42% of portfolio value over 30 days.

Diversification

Poor 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

Correlation Coefficient

0.65
Parameters
Time Period1 Month [change]
DirectionPositive IGTE Moved Up vs ACN
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns
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Historical Performance Chart

Comparative Volatility

Predicted Return Density
 
Embed  
Returns:   
IGTE   ACN   

Accenture plc

  
Over the last 30 days Accenture plc has generated negative risk-adjusted returns adding no value to investors with long positions.

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
Computer Sciences Corporation vs. Accenture plc
ServiceNow Inc vs. Accenture plc
IMS Health Holdings Inc vs. Accenture plc
Gartner Inc vs. Accenture plc
NCR Corp vs. Accenture plc
  

iGATE

  
Over the last 30 days iGATE Corporation has generated negative risk-adjusted returns adding no value to investors with long positions.

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
ServiceNow Inc vs. iGATE Corporation
IMS Health Holdings Inc vs. iGATE Corporation
Gartner Inc vs. iGATE Corporation
NCR Corp vs. iGATE Corporation


 
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