Correlation Between SentinelOne and SPDR Portfolio

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

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

Diversification Opportunities for SentinelOne and SPDR Portfolio

-0.06

Correlation Coefficient

SentinelOne  SPDR Portfolio

Good diversification

The 3 months correlation between SentinelOne and SPDR is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and SPDR Portfolio Intermediate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SPDR Portfolio Inter 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 SPDR Portfolio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SPDR Portfolio Inter has no effect on the direction of SentinelOne i.e., SentinelOne and SPDR Portfolio go up and down completely randomly.

Pair Corralation between SentinelOne and SPDR Portfolio

Taking into account the 90-day investment horizon SentinelOne is expected to generate 11.88 times less return on investment than SPDR Portfolio. In addition to that, SentinelOne is 13.01 times more volatile than SPDR Portfolio Intermediate. It trades about 0.0 of its total potential returns per unit of risk. SPDR Portfolio Intermediate is currently generating about 0.18 per unit of volatility. If you would invest  2,821  in SPDR Portfolio Intermediate on July 4, 2025 and sell it today you would earn a total of  70.00  from holding SPDR Portfolio Intermediate or generate 2.48% return on investment over 90 days.

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

SentinelOne  vs.  SPDR Portfolio Intermediate

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 comparatively stable basic indicators, SentinelOne is not utilizing all of its potentials. The newest stock price uproar, may contribute to short-horizon losses for the private investors.

SPDR Portfolio Inter

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in SPDR Portfolio Intermediate are ranked lower than 13 (%) of all global equities and portfolios over the last 90 days. Despite fairly strong basic indicators, SPDR Portfolio is not utilizing all of its potentials. The newest stock price confusion, may contribute to short-horizon losses for the traders.

Pair Trading with SentinelOne and SPDR Portfolio

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

The idea behind SentinelOne and SPDR Portfolio Intermediate 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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.