Correlation Between SentinelOne and Aim Investment

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

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

Diversification Opportunities for SentinelOne and Aim Investment

0.0

Correlation Coefficient

SentinelOne  Aim Investment

Pay attention - limited upside

The 3 months correlation between SentinelOne and Aim is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and Aim Investment Securities in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aim Investment Securities 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 Aim Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aim Investment Securities has no effect on the direction of SentinelOne i.e., SentinelOne and Aim Investment go up and down completely randomly.

Pair Corralation between SentinelOne and Aim Investment

If you would invest  100.00  in Aim Investment Securities on December 20, 2024 and sell it today you would earn a total of  0.00  from holding Aim Investment Securities or generate 0.0% return on investment over 90 days.

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

SentinelOne  vs.  Aim Investment Securities

SentinelOne

Risk-Adjusted Performance

Very Weak

Over the last 90 days SentinelOne has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of unsteady performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in April 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Aim Investment Securities

Risk-Adjusted Performance

Very Weak

Over the last 90 days Aim Investment Securities has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, Aim Investment is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with SentinelOne and Aim Investment

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

The idea behind SentinelOne and Aim Investment Securities 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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.