Correlation Between SentinelOne and CI Global
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By analyzing existing cross correlation between SentinelOne and CI Global Alpha, you can compare the effects of market volatilities on SentinelOne and CI Global 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 CI Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of SentinelOne and CI Global.
Diversification Opportunities for SentinelOne and CI Global
-0.6 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between SentinelOne and 0P000070HA is -0.6. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and CI Global Alpha in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CI Global Alpha 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 CI Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CI Global Alpha has no effect on the direction of SentinelOne i.e., SentinelOne and CI Global go up and down completely randomly.
Pair Corralation between SentinelOne and CI Global
Taking into account the 90-day investment horizon SentinelOne is expected to generate 1.18 times less return on investment than CI Global. In addition to that, SentinelOne is 2.68 times more volatile than CI Global Alpha. It trades about 0.04 of its total potential returns per unit of risk. CI Global Alpha is currently generating about 0.13 per unit of volatility. If you would invest 5,104 in CI Global Alpha on November 7, 2024 and sell it today you would earn a total of 6,222 from holding CI Global Alpha or generate 121.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SentinelOne vs. CI Global Alpha
Performance |
| Timeline |
| SentinelOne |
| CI Global Alpha |
SentinelOne and CI Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SentinelOne and CI Global
The main advantage of trading using opposite SentinelOne and CI Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SentinelOne position performs unexpectedly, CI Global 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 CI Global will offset losses from the drop in CI Global's long position.| SentinelOne vs. Crowdstrike Holdings | SentinelOne vs. Okta Inc | SentinelOne vs. Cloudflare | SentinelOne vs. MongoDB |
| CI Global vs. Global Healthcare Income | CI Global vs. CI Global Alpha | CI Global vs. CDSPI Global Growth | CI Global vs. Invesco Global Companies |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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