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Benchmark  United States  NYSE  10,958   28.252 Index Moved Down -0.26%  


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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 under-perform the iGATE. But the stock apears to be less risky and, when comparing its historical volatility, Accenture plc is 3.98 times less risky than iGATE. The stock trades about -0.29 of its potential returns per unit of risk. The iGATE Corporation is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest  3,411  in iGATE Corporation on June 22, 2014 and sell it today you would earn a total of  353.00  from holding iGATE Corporation or generate 10.35% return on investment over 30 days.

Diversification

Very weak 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

0.43
Parameters
Time Period1 Month [change]
DirectionPositive IGTE Moved Up vs ACN
StrengthWeak
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
Computer Sciences Corporation vs. Accenture plc
  

iGATE

  
Compared with the overall equity markets, risk-adjusted returns on investments in iGATE Corporation are ranked lower than 11 (%) 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
Computer Sciences Corporation vs. iGATE Corporation


 
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