CTSH vs GDYN: Correlation
How closely do Cognizant (CTSH) and Grid Dynamics Holdings, Inc. (GDYN) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTSH and GDYN?
On 3 years of weekly data the CTSH/GDYN correlation comes out at 0.67, strong. The relationship has been stable: the 1-year correlation (0.69) sits close to the 3-year figure. The 5-year figure is 0.48, and annualized covariance runs at 1044.1 %².
Within CTSH's tracked universe of 44 assets, GDYN comes in at #8 by 3-year correlation. The trailing year gives GDYN the advantage: -9.8% versus -2.2%, a 7.6-point spread.
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 GDYN: side by side
| CTSH (Cognizant) | GDYN (Grid Dynamics Holdings, Inc.) | |
|---|---|---|
| 1-year return | -9.8% | -2.2% |
| 5-year return | -9.6% | -70.4% |
| Volatility (ann.) | 32.3% | 48.4% |
| Beta vs S&P 500 | 0.89 | 1.54 |
| Max drawdown (3Y) | -56.1% | -78.3% |
| Market cap | $28.7B | $0.6B |
| P/E (trailing) | 13.3 | 263.0 |
| Dividend yield | 2.09% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CTSH | GDYN |
|---|---|---|
| 2022 | -34.5% | -70.5% |
| 2023 | +34.4% | +18.8% |
| 2024 | +3.5% | +66.8% |
| 2025 | +9.7% | -59.4% |
| 2026 | -21.8% | -12.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTSH and GDYN good diversifiers for each other?
Only partially. A correlation of 0.67 means CTSH and GDYN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CTSH and GDYN?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.69 over the last year and 0.48 over 5 years.
Is GDYN a good diversifier for CTSH?
Only partially. A correlation of 0.67 means CTSH and GDYN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
A reading of 0.67 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-gdyn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ctsh-vs-gdyn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTSH correlations · GDYN correlations
