Pair Correlation Between Accenture plc and iGATE |
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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 plc 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 plc with a short position of iGATE. See also your portfolio center.Please also check ongoing floating volatility patterns of Accenture plc and iGATE.
| Investment Horizon | 30 Days Login to change |
Pair Volatility
If you would invest 4,800 in iGATE Corporation on August 27, 2016 and sell it today you would earn a total of 0.00 from holding iGATE Corporation or generate 0.0% return on investment over 30 days.
Correlation Coefficient
Pair Corralation between Accenture plc and iGATE
0.0
Parameters
| Time Period | 1 Month [change] |
| Direction | Flat  |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
Diversification
Pay attention
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. The correlation between historical prices or returns on iGATE and Accenture plc is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Accenture plc are associated (or correlated) with iGATE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iGATE has no effect on the direction of Accenture plc i.e. Accenture plc and iGATE go up and down completely randomly.
Pair indicators
| MeanDeviation | JensenAlpha | SortinoRatio | TreynorRatio | SemiDeviation | InformationRatio | ExpectedShortfall | PotentialUpside | ValueAt Risk | MaximumDrawdown | ||
| 0.79 | (0.07) | 0.00 | 0.17 | 0.00 | (0.02) | 0.00 | 1.75 | (1.98) | 4.12 | ||
| 0.12 | 0.02 | 0.24 | (0.83) | 0.00 | 0.29 | (0.13) | 0.32 | (0.34) | 0.65 |
Comparative Volatility
Accenture plc |
Risk-adjusted PerformanceOver the last 30 days Accenture plc has generated negative risk-adjusted returns adding no value to investors with long positions.
Accenture plc
Pair trading matchups for Accenture plc