Correlation Between SentinelOne and AppYea

Can any of the company-specific risk be diversified away by investing in both SentinelOne and AppYea 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 SentinelOne and AppYea into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between SentinelOne and AppYea Inc, you can compare the effects of market volatilities on SentinelOne and AppYea 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 SentinelOne with a short position of AppYea. Check out your portfolio center. Please also check ongoing floating volatility patterns of SentinelOne and AppYea.

Diversification Opportunities for SentinelOne and AppYea

0.24

Correlation Coefficient

SentinelOne  AppYea

Modest diversification

The 3 months correlation between SentinelOne and AppYea is 0.24. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and AppYea Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AppYea Inc and SentinelOne 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 SentinelOne are associated (or correlated) with AppYea. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AppYea Inc has no effect on the direction of SentinelOne i.e., SentinelOne and AppYea go up and down completely randomly.

Pair Corralation between SentinelOne and AppYea

Taking into account the 90-day investment horizon SentinelOne is expected to under-perform the AppYea. But the stock apears to be less risky and, when comparing its historical volatility, SentinelOne is 5.75 times less risky than AppYea. The stock trades about -0.06 of its potential returns per unit of risk. The AppYea Inc is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  1.11  in AppYea Inc on May 21, 2025 and sell it today you would earn a total of  0.12  from holding AppYea Inc or generate 10.81% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

SentinelOne  vs.  AppYea Inc

SentinelOne

Risk-Adjusted Performance

Weakest

Over the last 90 days SentinelOne has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest uncertain performance, the Stock's basic indicators remain stable and the newest uproar on Wall Street may also be a sign of mid-term gains for the firm private investors.

AppYea Inc

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in AppYea Inc are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. Even with relatively unfluctuating basic indicators, AppYea reported solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with SentinelOne and AppYea

The main advantage of trading using opposite SentinelOne and AppYea positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SentinelOne position performs unexpectedly, AppYea 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 AppYea will offset losses from the drop in AppYea's long position.

The idea behind SentinelOne and AppYea Inc 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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.