Correlation Between SentinelOne and Perficient

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

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

Diversification Opportunities for SentinelOne and Perficient

0.0

Correlation Coefficient

SentinelOne  Perficient

Pay attention - limited upside

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

Pair Corralation between SentinelOne and Perficient

If you would invest  1,857  in SentinelOne on May 1, 2025 and sell it today you would earn a total of  23.00  from holding SentinelOne or generate 1.24% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

SentinelOne  vs.  Perficient

SentinelOne

Risk-Adjusted Performance

Very 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.

Perficient

Risk-Adjusted Performance

Very Weak

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

Pair Trading with SentinelOne and Perficient

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

The idea behind SentinelOne and Perficient 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.