CTSH vs NEU: Correlation
How closely do Cognizant (CTSH) and NewMarket Corp (NEU) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTSH and NEU?
Over the past 3 years, CTSH and NEU moved with a correlation of 0.41, which is moderate. The relationship has been stable: the 1-year correlation (0.41) sits close to the 3-year figure. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 368.9 %².
Among the 44 assets we track against CTSH, NEU ranks #28 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NEU outperformed by 23.9 percentage points (-9.8% for CTSH against +14.1% for NEU).
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 NEU: side by side
| CTSH (Cognizant) | NEU (NewMarket Corp) | |
|---|---|---|
| 1-year return | -9.8% | +14.1% |
| 5-year return | -9.6% | +195.8% |
| Volatility (ann.) | 32.3% | 27.9% |
| Beta vs S&P 500 | 0.89 | 0.58 |
| Max drawdown (3Y) | -56.1% | -32.8% |
| Market cap | $28.7B | $8.5B |
| P/E (trailing) | 13.3 | 19.9 |
| Dividend yield | 2.09% | 1.27% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CTSH | NEU |
|---|---|---|
| 2022 | -34.5% | -6.7% |
| 2023 | +34.4% | +79.1% |
| 2024 | +3.5% | -1.5% |
| 2025 | +9.7% | +32.3% |
| 2026 | -21.8% | +35.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTSH and NEU good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CTSH and NEU?
The CTSH/NEU correlation stands at 0.41 on a 3-year window (1 year: 0.41, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is NEU a good diversifier for CTSH?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ctsh-vs-neu.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ctsh-vs-neu/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CTSH correlations · NEU correlations
