Correlation Between Accenture Plc and SentinelOne

Can any of the company-specific risk be diversified away by investing in both Accenture Plc and SentinelOne at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Accenture Plc and SentinelOne into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Accenture plc and SentinelOne, you can compare the effects of market volatilities on Accenture Plc and SentinelOne and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Accenture Plc with a short position of SentinelOne. Check out your portfolio center. Please also check ongoing floating volatility patterns of Accenture Plc and SentinelOne.

Diversification Opportunities for Accenture Plc and SentinelOne

-0.02

Correlation Coefficient

Accenture Plc  SentinelOne

Good diversification

The 3 months correlation between Accenture and SentinelOne is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding Accenture plc and SentinelOne in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SentinelOne and Accenture Plc is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Accenture plc are associated (or correlated) with SentinelOne. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SentinelOne has no effect on the direction of Accenture Plc i.e., Accenture Plc and SentinelOne go up and down completely randomly.

Pair Corralation between Accenture Plc and SentinelOne

Considering the 90-day investment horizon Accenture plc is expected to generate 0.64 times more return on investment than SentinelOne. However, Accenture plc is 1.57 times less risky than SentinelOne. It trades about 0.03 of its potential returns per unit of risk. SentinelOne is currently generating about -0.01 per unit of risk. If you would invest  24,657  in Accenture plc on August 6, 2025 and sell it today you would earn a total of  187.00  from holding Accenture plc or generate 0.76% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Insignificant
Accuracy	100.0%
Values	Daily Returns

Accenture plc  vs.  SentinelOne

Accenture plc

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in Accenture plc are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. In spite of very healthy fundamental indicators, Accenture Plc is not utilizing all of its potentials. The recent stock price disarray, may contribute to short-term losses for the investors.

SentinelOne

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in SentinelOne are ranked lower than 2 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively stable basic indicators, SentinelOne is not utilizing all of its potentials. The latest stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with Accenture Plc and SentinelOne

The main advantage of trading using opposite Accenture Plc and SentinelOne positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Accenture Plc position performs unexpectedly, SentinelOne can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in SentinelOne will offset losses from the drop in SentinelOne's long position.

The idea behind Accenture plc and SentinelOne pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.