Cognyte Software Ltd. Ordinary Shares (CGNT) — Stock Correlations & Overview
Over the past year, CGNT has moved most closely with XSW, IGV, WCLD. Explore the stocks most correlated and inversely correlated with CGNT below, along with its price, financials, and company profile.
Stocks correlated with CGNT
Correlation of daily returns. Higher positive values move with CGNT; negative values move opposite it. Informational only, not investment advice.
Most correlated with CGNT
| Symbol | Company | Correlation |
|---|---|---|
| XSW | State Street SPDR S&P Software & Services ETF | 0.65 |
| IGV | iShares Expanded Tech-Software Sector ETF | 0.65 |
| WCLD | WisdomTree Cloud Computing Fund | 0.64 |
| CLOD | Themes Cloud Computing ETF | 0.64 |
| DUNK | Dana Unconstrained Equity ETF | 0.64 |
Most inversely correlated with CGNT
| Symbol | Company | Correlation |
|---|---|---|
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.51 |
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.49 |
| PALD | Direxion Shares ETF Trust Direxion Daily PANW Bear 1X ETF | -0.45 |
| PLTD | Direxion Shares ETF Trust Direxion Dailly PLTR Bear 1X ETF | -0.41 |
| MSFD | Direxion Shares ETF Trust Direxion Daily MSFT Bear 1X ETF | -0.41 |
Frequently asked questions about CGNT correlations
- Which stocks are most correlated with CGNT?
- Based on one year of daily returns, the stocks most correlated with Cognyte Software Ltd. Ordinary Shares (CGNT) are XSW (0.65), IGV (0.65) and WCLD (0.64). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with CGNT?
- Over the past year, the stocks most inversely correlated with Cognyte Software Ltd. Ordinary Shares (CGNT) are WEBS (-0.51), HDGE (-0.49) and PALD (-0.45). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these CGNT correlations calculated?
- We compute the correlation of daily returns between CGNT and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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