Correlation Between SentinelOne and One Gas

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

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

Diversification Opportunities for SentinelOne and One Gas

0.58

Correlation Coefficient

SentinelOne  One Gas

Very weak diversification

The 3 months correlation between SentinelOne and One is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and One Gas in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on One Gas 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 One Gas. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of One Gas has no effect on the direction of SentinelOne i.e., SentinelOne and One Gas go up and down completely randomly.

Pair Corralation between SentinelOne and One Gas

Taking into account the 90-day investment horizon SentinelOne is expected to under-perform the One Gas. In addition to that, SentinelOne is 2.95 times more volatile than One Gas. It trades about -0.05 of its total potential returns per unit of risk. One Gas is currently generating about -0.06 per unit of volatility. If you would invest  7,981  in One Gas on October 10, 2025 and sell it today you would lose (300.00) from holding One Gas or give up 3.76% of portfolio value over 90 days.

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

SentinelOne  vs.  One Gas

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 latest abnormal performance, the Stock's basic indicators remain stable and the newest uproar on Wall Street may also be a sign of mid-term gains for the firm private investors.

One Gas

Risk-Adjusted Performance

Weakest

Over the last 90 days One Gas has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable technical and fundamental indicators, One Gas is not utilizing all of its potentials. The latest stock price uproar, may contribute to short-horizon losses for the private investors.

Pair Trading with SentinelOne and One Gas

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

The idea behind SentinelOne and One Gas 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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.