Correlation Between SentinelOne and Stocksplus Total

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

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

Diversification Opportunities for SentinelOne and Stocksplus Total

-0.43

Correlation Coefficient

SentinelOne  Stocksplus Total

Very good diversification

The 3 months correlation between SentinelOne and Stocksplus is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and Stocksplus Total Return in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Stocksplus Total Return 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 Stocksplus Total. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Stocksplus Total Return has no effect on the direction of SentinelOne i.e., SentinelOne and Stocksplus Total go up and down completely randomly.

Pair Corralation between SentinelOne and Stocksplus Total

Taking into account the 90-day investment horizon SentinelOne is expected to under-perform the Stocksplus Total. In addition to that, SentinelOne is 4.31 times more volatile than Stocksplus Total Return. It trades about -0.08 of its total potential returns per unit of risk. Stocksplus Total Return is currently generating about 0.22 per unit of volatility. If you would invest  1,191  in Stocksplus Total Return on May 19, 2025 and sell it today you would earn a total of  119.00  from holding Stocksplus Total Return or generate 9.99% return on investment over 90 days.

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

SentinelOne  vs.  Stocksplus Total Return

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 weak 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.

Stocksplus Total Return

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Stocksplus Total Return are ranked lower than 17 (%) of all funds and portfolios of funds over the last 90 days. In spite of fairly weak basic indicators, Stocksplus Total may actually be approaching a critical reversion point that can send shares even higher in September 2025.

Pair Trading with SentinelOne and Stocksplus Total

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

The idea behind SentinelOne and Stocksplus Total Return 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.