Correlation Between SentinelOne and At Equity

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

By analyzing existing cross correlation between SentinelOne and At Equity Income, you can compare the effects of market volatilities on SentinelOne and At Equity 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 At Equity. Check out your portfolio center. Please also check ongoing floating volatility patterns of SentinelOne and At Equity.

Diversification Opportunities for SentinelOne and At Equity

-0.25

Correlation Coefficient

SentinelOne  At Equity

Very good diversification

The 3 months correlation between SentinelOne and AWYIX is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and At Equity Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on At Equity Income 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 At Equity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of At Equity Income has no effect on the direction of SentinelOne i.e., SentinelOne and At Equity go up and down completely randomly.

Pair Corralation between SentinelOne and At Equity

Taking into account the 90-day investment horizon SentinelOne is expected to generate 4.08 times more return on investment than At Equity. However, SentinelOne is 4.08 times more volatile than At Equity Income. It trades about 0.05 of its potential returns per unit of risk. At Equity Income is currently generating about 0.19 per unit of risk. If you would invest  1,850  in SentinelOne on April 30, 2025 and sell it today you would earn a total of  110.00  from holding SentinelOne or generate 5.95% return on investment over 90 days.

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

SentinelOne  vs.  At Equity Income

SentinelOne

Risk-Adjusted Performance

Insignificant

Compared to the overall equity markets, risk-adjusted returns on investments in SentinelOne are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain basic indicators, SentinelOne may actually be approaching a critical reversion point that can send shares even higher in August 2025.

At Equity Income

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in At Equity Income are ranked lower than 14 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak forward indicators, At Equity may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Pair Trading with SentinelOne and At Equity

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

The idea behind SentinelOne and At Equity Income 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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.