CNDT vs NAVI: Correlation
How closely do Conduent Incorporated (CNDT) and Navient Corporation (NAVI) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNDT and NAVI?
Over the past 3 years, CNDT and NAVI moved with a correlation of 0.47, which is moderate. Recent behaviour matches the longer record: 0.56 over 1 year against 0.47 over 3. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 894.8 %².
Among the 13 assets we track against CNDT, NAVI ranks #5 by 3-year correlation. On 12-month performance NAVI holds a 12.0-point edge, -38.9% against -26.9%. Note the risk asymmetry: CNDT runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CNDT vs NAVI: side by side
| CNDT (Conduent Incorporated) | NAVI (Navient Corporation) | |
|---|---|---|
| 1-year return | -38.9% | -26.9% |
| 5-year return | -75.2% | -49.1% |
| Volatility (ann.) | 59.4% | 32.0% |
| Beta vs S&P 500 | 1.11 | 0.99 |
| Max drawdown (3Y) | -73.8% | -57.6% |
| Market cap | $0.3B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 6.83% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNDT | NAVI |
|---|---|---|
| 2022 | -24.2% | -19.3% |
| 2023 | -9.9% | +17.6% |
| 2024 | +10.7% | -25.6% |
| 2025 | -52.5% | +2.6% |
| 2026 | -9.4% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNDT and NAVI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CNDT and NAVI?
The CNDT/NAVI correlation stands at 0.47 on a 3-year window (1 year: 0.56, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is NAVI a good diversifier for CNDT?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: CNDT correlations · NAVI correlations
