Correlation Analysis Between Genpact and International Business

Analyzing existing cross correlation between Genpact Limited and International Business Machines. You can compare the effects of market volatilities on Genpact and International Business 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 Genpact with a short position of International Business. See also your portfolio center. Please also check ongoing floating volatility patterns of Genpact and International Business.
Horizon     30 Days    Login   to change
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Comparative Performance

Genpact Limited  
1414

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Genpact Limited are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days. In spite of rather unsteady fundamental drivers, Genpact exhibited solid returns over the last few months and may actually be approaching a breakup point.
International Business  
66

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in International Business Machines are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days. Even with considerably steady technical indicators, International Business is not utilizing all of its potentials. The ongoing stock price chaos, may contribute to medium term losses for the stakeholders.

Genpact and International Business Volatility Contrast

 Predicted Return Density 
    
  Returns 

Genpact Limited  vs.  International Business Machine

 Performance (%) 
    
  Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Genpact Limited is expected to generate 1.34 times more return on investment than International Business. However, Genpact is 1.34 times more volatile than International Business Machines. It trades about 0.21 of its potential returns per unit of risk. International Business Machines is currently generating about 0.09 per unit of risk. If you would invest  3,915  in Genpact Limited on December 18, 2019 and sell it today you would earn a total of  540.00  from holding Genpact Limited or generate 13.79% return on investment over 30 days.

Pair Corralation between Genpact and International Business

-0.19
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Genpact and International Business

Genpact Limited diversification synergy

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding Genpact Limited and International Business Machine in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on International Business and Genpact 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 Genpact Limited are associated (or correlated) with International Business. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of International Business has no effect on the direction of Genpact i.e. Genpact and International Business go up and down completely randomly.
See also your portfolio center. Please also try Equity Analysis module to research over 250,000 global equities including funds, stocks and etfs to find investment opportunities.