Correlation Between SentinelOne and CoreCard Corp

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

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

Diversification Opportunities for SentinelOne and CoreCard Corp

-0.34

Correlation Coefficient

SentinelOne  CoreCard Corp

Very good diversification

The 3 months correlation between SentinelOne and CoreCard is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and CoreCard Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CoreCard Corp 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 CoreCard Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CoreCard Corp has no effect on the direction of SentinelOne i.e., SentinelOne and CoreCard Corp go up and down completely randomly.

Pair Corralation between SentinelOne and CoreCard Corp

Taking into account the 90-day investment horizon SentinelOne is expected to under-perform the CoreCard Corp. But the stock apears to be less risky and, when comparing its historical volatility, SentinelOne is 1.01 times less risky than CoreCard Corp. The stock trades about -0.07 of its potential returns per unit of risk. The CoreCard Corp is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest  2,547  in CoreCard Corp on May 22, 2025 and sell it today you would earn a total of  165.00  from holding CoreCard Corp or generate 6.48% return on investment over 90 days.

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

SentinelOne  vs.  CoreCard Corp

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 weak performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in September 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

CoreCard Corp

Risk-Adjusted Performance

Weak

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

Pair Trading with SentinelOne and CoreCard Corp

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

The idea behind SentinelOne and CoreCard Corp 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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.