CHGG vs CNDT: Correlation
Chegg, Inc. (CHGG) and Conduent Incorporated (CNDT) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHGG and CNDT?
Over the past 3 years, CHGG and CNDT moved with a correlation of 0.47, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.59 versus 0.47 over 3 years. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 2691.0 %².
Few assets follow CHGG as closely as CNDT, which ranks #2 of 10 tracked partners. Their 12-month results are close: -39.3% for CHGG against -38.9% for CNDT. One caveat on sizing: CHGG is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CHGG vs CNDT: side by side
| CHGG (Chegg, Inc.) | CNDT (Conduent Incorporated) | |
|---|---|---|
| 1-year return | -39.3% | -38.9% |
| 5-year return | -99.0% | -75.2% |
| Volatility (ann.) | 97.4% | 59.4% |
| Beta vs S&P 500 | 1.77 | 1.11 |
| Max drawdown (3Y) | -96.1% | -73.8% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHGG | CNDT |
|---|---|---|
| 2022 | -17.7% | -24.2% |
| 2023 | -55.0% | -9.9% |
| 2024 | -85.8% | +10.7% |
| 2025 | -42.2% | -52.5% |
| 2026 | -13.8% | -9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHGG and CNDT good diversifiers for each other?
Reasonably. At 0.47, CHGG and CNDT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CHGG and CNDT?
As of 2026-08-27, the correlation of weekly returns between CHGG and CNDT is 0.47 over 3 years, 0.59 over 1 year and 0.44 over 5 years.
Is CNDT a good diversifier for CHGG?
Reasonably. At 0.47, CHGG and CNDT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CHGG correlations · CNDT correlations
