Correlation Between SentinelOne and Fossil Group

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

By analyzing existing cross correlation between SentinelOne and Fossil Group 7, you can compare the effects of market volatilities on SentinelOne and Fossil Group 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 Fossil Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of SentinelOne and Fossil Group.

Diversification Opportunities for SentinelOne and Fossil Group

0.0

Correlation Coefficient

SentinelOne  Fossil Group

Pay attention - limited upside

The 3 months correlation between SentinelOne and Fossil is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and Fossil Group 7 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fossil Group 7 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 Fossil Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fossil Group 7 has no effect on the direction of SentinelOne i.e., SentinelOne and Fossil Group go up and down completely randomly.

Pair Corralation between SentinelOne and Fossil Group

Taking into account the 90-day investment horizon SentinelOne is expected to under-perform the Fossil Group. In addition to that, SentinelOne is 1.23 times more volatile than Fossil Group 7. It trades about -0.09 of its total potential returns per unit of risk. Fossil Group 7 is currently generating about 0.12 per unit of volatility. If you would invest  1,700  in Fossil Group 7 on May 17, 2025 and sell it today you would earn a total of  288.00  from holding Fossil Group 7 or generate 16.94% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	98.39%
Values	Daily Returns

SentinelOne  vs.  Fossil Group 7

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 uncertain 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.

Fossil Group 7

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in Fossil Group 7 are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. Despite quite conflicting essential indicators, Fossil Group disclosed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with SentinelOne and Fossil Group

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

The idea behind SentinelOne and Fossil Group 7 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.