Correlation Between SentinelOne and Casper Network

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

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

Diversification Opportunities for SentinelOne and Casper Network

0.62

Correlation Coefficient

SentinelOne  Casper Network

Poor diversification

The 3 months correlation between SentinelOne and Casper is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and Casper Network in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Casper Network 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 Casper Network. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Casper Network has no effect on the direction of SentinelOne i.e., SentinelOne and Casper Network go up and down completely randomly.

Pair Corralation between SentinelOne and Casper Network

Taking into account the 90-day investment horizon SentinelOne is expected to generate 0.43 times more return on investment than Casper Network. However, SentinelOne is 2.33 times less risky than Casper Network. It trades about 0.02 of its potential returns per unit of risk. Casper Network is currently generating about -0.04 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  19.00  from holding SentinelOne or generate 1.03% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	95.38%
Values	Daily Returns

SentinelOne  vs.  Casper Network

SentinelOne

Risk-Adjusted Performance

Weak

Compared to the overall equity markets, risk-adjusted returns on investments in SentinelOne are ranked lower than 1 (%) 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.

Casper Network

Risk-Adjusted Performance

Very Weak

Over the last 90 days Casper Network has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Crypto's fundamental indicators remain rather sound which may send shares a bit higher in August 2025. The latest tumult may also be a sign of longer-term up-swing for Casper Network shareholders.

Pair Trading with SentinelOne and Casper Network

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

The idea behind SentinelOne and Casper Network 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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.