Correlation Between SentinelOne and Fidelity Freedom

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

By analyzing existing cross correlation between SentinelOne and Fidelity Freedom 2015, you can compare the effects of market volatilities on SentinelOne and Fidelity Freedom 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 Fidelity Freedom. Check out your portfolio center. Please also check ongoing floating volatility patterns of SentinelOne and Fidelity Freedom.

Diversification Opportunities for SentinelOne and Fidelity Freedom

-0.02

Correlation Coefficient

SentinelOne  Fidelity Freedom

Good diversification

The 3 months correlation between SentinelOne and Fidelity is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and Fidelity Freedom 2015 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fidelity Freedom 2015 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 Fidelity Freedom. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fidelity Freedom 2015 has no effect on the direction of SentinelOne i.e., SentinelOne and Fidelity Freedom go up and down completely randomly.

Pair Corralation between SentinelOne and Fidelity Freedom

Taking into account the 90-day investment horizon SentinelOne is expected to under-perform the Fidelity Freedom. In addition to that, SentinelOne is 9.73 times more volatile than Fidelity Freedom 2015. It trades about -0.08 of its total potential returns per unit of risk. Fidelity Freedom 2015 is currently generating about 0.24 per unit of volatility. If you would invest  1,195  in Fidelity Freedom 2015 on July 19, 2025 and sell it today you would earn a total of  50.00  from holding Fidelity Freedom 2015 or generate 4.18% return on investment over 90 days.

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

SentinelOne  vs.  Fidelity Freedom 2015

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 November 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Fidelity Freedom 2015

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Fidelity Freedom 2015 are ranked lower than 18 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly strong forward-looking signals, Fidelity Freedom is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with SentinelOne and Fidelity Freedom

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

The idea behind SentinelOne and Fidelity Freedom 2015 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.

Check out your portfolio center.

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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.