Correlation Between SentinelOne and Blackstone Secured
Can any of the company-specific risk be diversified away by investing in both SentinelOne and Blackstone Secured 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 Blackstone Secured into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SentinelOne and Blackstone Secured Lending, you can compare the effects of market volatilities on SentinelOne and Blackstone Secured 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 Blackstone Secured. Check out your portfolio center. Please also check ongoing floating volatility patterns of SentinelOne and Blackstone Secured.
Diversification Opportunities for SentinelOne and Blackstone Secured
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between SentinelOne and Blackstone is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and Blackstone Secured Lending in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blackstone Secured 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 Blackstone Secured. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blackstone Secured has no effect on the direction of SentinelOne i.e., SentinelOne and Blackstone Secured go up and down completely randomly.
Pair Corralation between SentinelOne and Blackstone Secured
Taking into account the 90-day investment horizon SentinelOne is expected to generate 2.77 times more return on investment than Blackstone Secured. However, SentinelOne is 2.77 times more volatile than Blackstone Secured Lending. It trades about 0.14 of its potential returns per unit of risk. Blackstone Secured Lending is currently generating about 0.1 per unit of risk. If you would invest 2,609 in SentinelOne on August 29, 2024 and sell it today you would earn a total of 199.00 from holding SentinelOne or generate 7.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
SentinelOne vs. Blackstone Secured Lending
Performance |
| Timeline |
| SentinelOne |
| Blackstone Secured |
SentinelOne and Blackstone Secured Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SentinelOne and Blackstone Secured
The main advantage of trading using opposite SentinelOne and Blackstone Secured positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SentinelOne position performs unexpectedly, Blackstone Secured 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 Blackstone Secured will offset losses from the drop in Blackstone Secured's long position.| SentinelOne vs. Crowdstrike Holdings | SentinelOne vs. Okta Inc | SentinelOne vs. Cloudflare | SentinelOne vs. MongoDB |
| Blackstone Secured vs. Carlyle Secured Lending | Blackstone Secured vs. Oaktree Specialty Lending | Blackstone Secured vs. Sixth Street Specialty | Blackstone Secured vs. FS KKR Capital |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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