CTSH vs ICE: Correlation
How closely do Cognizant (CTSH) and Intercontinental Exchange (ICE) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTSH and ICE?
On 3 years of weekly data the CTSH/ICE correlation comes out at 0.52, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. The 5-year figure is 0.53, and annualized covariance runs at 358.8 %².
By 3-year correlation, ICE places #23 of the 44 assets tracked against CTSH. Twelve-month performance is nearly a tie, at -9.8% for CTSH and -7.9% for ICE. Stability stands out here, with the rolling one-year correlation confined to 0.37 through 0.60. Note the risk asymmetry: CTSH runs 1.5 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.
CTSH vs ICE: side by side
| CTSH (Cognizant) | ICE (Intercontinental Exchange) | |
|---|---|---|
| 1-year return | -9.8% | -7.9% |
| 5-year return | -9.6% | +44.2% |
| Volatility (ann.) | 32.3% | 21.2% |
| Beta vs S&P 500 | 0.89 | 0.62 |
| Max drawdown (3Y) | -56.1% | -33.9% |
| Market cap | $28.7B | $90.5B |
| P/E (trailing) | 13.3 | 22.7 |
| Dividend yield | 2.09% | 1.24% |
| Sector / category | Information Technology | Financials |
Year-by-year returns
| Year | CTSH | ICE |
|---|---|---|
| 2022 | -34.5% | -23.9% |
| 2023 | +34.4% | +27.1% |
| 2024 | +3.5% | +17.5% |
| 2025 | +9.7% | +9.9% |
| 2026 | -21.8% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTSH and ICE good diversifiers for each other?
To a limited degree. At 0.52 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 ICE?
The CTSH/ICE correlation stands at 0.52 on a 3-year window (1 year: 0.53, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is ICE a good diversifier for CTSH?
To a limited degree. At 0.52 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 0.52 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ctsh-vs-ice.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ctsh-vs-ice/)
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Related comparisons
Hubs: CTSH correlations · ICE correlations
