CTSH vs EXLS: Correlation
Measured on weekly returns over the past three years, Cognizant (CTSH) and ExlService Holdings, Inc. (EXLS) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTSH and EXLS?
Across a 3-year window, the weekly returns of CTSH and EXLS correlate at 0.70, strong. Recent behaviour matches the longer record: 0.75 over 1 year against 0.70 over 3. Stretching to 5 years gives 0.57, with an annualized covariance of 717.1 %².
Among the 44 assets we track against CTSH, EXLS ranks #4 by 3-year correlation. Neither side won the trailing year by much: -9.8% against -13.4%.
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.
CTSH vs EXLS: side by side
| CTSH (Cognizant) | EXLS (ExlService Holdings, Inc.) | |
|---|---|---|
| 1-year return | -9.8% | -13.4% |
| 5-year return | -9.6% | +55.2% |
| Volatility (ann.) | 32.3% | 31.7% |
| Beta vs S&P 500 | 0.89 | 0.77 |
| Max drawdown (3Y) | -56.1% | -51.3% |
| Market cap | $28.7B | $5.8B |
| P/E (trailing) | 13.3 | 23.7 |
| Dividend yield | 2.09% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CTSH | EXLS |
|---|---|---|
| 2022 | -34.5% | +17.0% |
| 2023 | +34.4% | -9.0% |
| 2024 | +3.5% | +43.9% |
| 2025 | +9.7% | -4.4% |
| 2026 | -21.8% | -10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTSH and EXLS good diversifiers for each other?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CTSH and EXLS?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.75 over the last year and 0.57 over 5 years.
Is EXLS a good diversifier for CTSH?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.70 mean?
A reading of 0.70 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ctsh-vs-exls.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ctsh-vs-exls/)
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Related comparisons
Hubs: CTSH correlations · EXLS correlations
