Correlation Between SentinelOne and Aberdeen Global

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Can any of the company-specific risk be diversified away by investing in both SentinelOne and Aberdeen Global 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 Aberdeen Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SentinelOne and Aberdeen Global Dynamic, you can compare the effects of market volatilities on SentinelOne and Aberdeen 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 Aberdeen Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of SentinelOne and Aberdeen Global.

Diversification Opportunities for SentinelOne and Aberdeen Global

SentinelOneAberdeenDiversified AwaySentinelOneAberdeenDiversified Away100%
0.36
  Correlation Coefficient

Weak diversification

The 3 months correlation between SentinelOne and Aberdeen is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and Aberdeen Global Dynamic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aberdeen Global Dynamic 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 Aberdeen Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aberdeen Global Dynamic has no effect on the direction of SentinelOne i.e., SentinelOne and Aberdeen Global go up and down completely randomly.

Pair Corralation between SentinelOne and Aberdeen Global

Taking into account the 90-day investment horizon SentinelOne is expected to under-perform the Aberdeen Global. In addition to that, SentinelOne is 3.51 times more volatile than Aberdeen Global Dynamic. It trades about -0.13 of its total potential returns per unit of risk. Aberdeen Global Dynamic is currently generating about 0.08 per unit of volatility. If you would invest  994.00  in Aberdeen Global Dynamic on November 25, 2024 and sell it today you would earn a total of  34.00  from holding Aberdeen Global Dynamic or generate 3.42% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

SentinelOne  vs.  Aberdeen Global Dynamic

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb -20-15-10-505
JavaScript chart by amCharts 3.21.15S AGD
       Timeline  
SentinelOne 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days SentinelOne has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of uncertain performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in March 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb2223242526272829
Aberdeen Global Dynamic 

Risk-Adjusted Performance

Modest

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Aberdeen Global Dynamic are ranked lower than 5 (%) of all funds and portfolios of funds over the last 90 days. In spite of rather sound technical and fundamental indicators, Aberdeen Global is not utilizing all of its potentials. The current stock price tumult, may contribute to shorter-term losses for the shareholders.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb9.49.69.81010.210.410.6

SentinelOne and Aberdeen Global Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-4.73-3.54-2.36-1.170.01.062.133.214.28 0.10.20.30.40.50.6
JavaScript chart by amCharts 3.21.15S AGD
       Returns  

Pair Trading with SentinelOne and Aberdeen Global

The main advantage of trading using opposite SentinelOne and Aberdeen Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SentinelOne position performs unexpectedly, Aberdeen 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 Aberdeen Global will offset losses from the drop in Aberdeen Global's long position.
The idea behind SentinelOne and Aberdeen Global Dynamic 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..

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