Wipro Limited Correlations
| WIT Stock | USD 2.72 0.03 1.12% |
The current 90-days correlation between Wipro Limited ADR and Singapore Telecommunications Limited is -0.16 (i.e., Good diversification). The correlation of Wipro Limited is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
Wipro Limited Correlation With Market
Modest diversification
The correlation between Wipro Limited ADR and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wipro Limited ADR and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Wipro Stock
| 0.61 | 300168 | Wonders Information | PairCorr |
| 0.75 | HCKT | Hackett Group | PairCorr |
| 0.65 | 300608 | SI TECH Information | PairCorr |
| 0.66 | GOLDTECH | Goldstone Technologies | PairCorr |
Moving against Wipro Stock
| 0.72 | IBM | International Business | PairCorr |
| 0.7 | TERASOFT | Tera Software Limited | PairCorr |
| 0.55 | AAATECH | AAA Technologies | PairCorr |
| 0.55 | CCR | Credit Clear Earnings Call This Week | PairCorr |
| 0.5 | 300588 | Xinjiang Sailing Inf | PairCorr |
| 0.39 | CTE | Cambridge Technology | PairCorr |
| 0.7 | LUNMF | Lundin Mining | PairCorr |
| 0.57 | SPOT | Goldspot Discoveries Corp | PairCorr |
| 0.55 | CYBERTECH | Cybertech Systems And | PairCorr |
| 0.48 | 000555 | Digital China Information | PairCorr |
| 0.48 | 301178 | Guangdong TianYiMa | PairCorr |
| 0.42 | SILVERTUC | Silver Touch Technologies | PairCorr |
| 0.39 | KYP | Kinatico Earnings Call This Week | PairCorr |
| 0.38 | 300300 | Strait Innovation | PairCorr |
| 0.38 | FORTY | Formula Systems 1985 | PairCorr |
| 0.31 | ADROITINFO | Adroit Infotech | PairCorr |
Related Correlations Analysis
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | DLAD | ||
| 0.0 | 1.0 | 0.0 | 0.0 | 0.0 | XCOMQ | ||
| 0.0 | 1.0 | 0.0 | 0.0 | 0.0 | ONCI | ||
| 0.0 | 0.0 | 0.0 | 0.2 | 0.57 | SNGNF | ||
| 0.0 | 0.0 | 0.0 | 0.2 | -0.2 | AIV | ||
| 0.0 | 0.0 | 0.0 | 0.57 | -0.2 | RCIAF | ||
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Wipro Stock performing well and Wipro Limited Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Wipro Limited's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DLAD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| XCOMQ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ONCI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SNGNF | 1.41 | 0.17 | 0.01 | (0.20) | 2.19 | 4.58 | 20.20 | |||
| AIV | 1.04 | (0.01) | (0.04) | 0.04 | 1.07 | 2.53 | 8.73 | |||
| RCIAF | 0.32 | 0.02 | (0.02) | 0.40 | 0.55 | 0.24 | 9.01 |