Correlation Between SentinelOne and INTEL

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

Diversification Opportunities for SentinelOne and INTEL

-0.47
  Correlation Coefficient

Very good diversification

The 3 months correlation between SentinelOne and INTEL is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and INTEL PORATION in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTEL PORATION 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 INTEL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INTEL PORATION has no effect on the direction of SentinelOne i.e., SentinelOne and INTEL go up and down completely randomly.

Pair Corralation between SentinelOne and INTEL

Taking into account the 90-day investment horizon SentinelOne is expected to generate 1.59 times more return on investment than INTEL. However, SentinelOne is 1.59 times more volatile than INTEL PORATION. It trades about 0.01 of its potential returns per unit of risk. INTEL PORATION is currently generating about -0.01 per unit of risk. If you would invest  1,777  in SentinelOne on January 20, 2025 and sell it today you would lose (95.00) from holding SentinelOne or give up 5.35% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthVery Weak
Accuracy79.43%
ValuesDaily Returns

SentinelOne  vs.  INTEL PORATION

 Performance 
       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 abnormal performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in May 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.
INTEL PORATION 

Risk-Adjusted Performance

Insignificant

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in INTEL PORATION are ranked lower than 3 (%) of all global equities and portfolios over the last 90 days. Despite somewhat weak basic indicators, INTEL may actually be approaching a critical reversion point that can send shares even higher in May 2025.

SentinelOne and INTEL Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with SentinelOne and INTEL

The main advantage of trading using opposite SentinelOne and INTEL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SentinelOne position performs unexpectedly, INTEL 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 INTEL will offset losses from the drop in INTEL's long position.
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The idea behind SentinelOne and INTEL PORATION 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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.

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