Correlation Between SentinelOne and Natixis ETF

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

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

Diversification Opportunities for SentinelOne and Natixis ETF

0.89

Correlation Coefficient

SentinelOne  Natixis ETF

Very poor diversification

The 3 months correlation between SentinelOne and Natixis is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and Natixis ETF Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Natixis ETF Trust 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 Natixis ETF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Natixis ETF Trust has no effect on the direction of SentinelOne i.e., SentinelOne and Natixis ETF go up and down completely randomly.

Pair Corralation between SentinelOne and Natixis ETF

Taking into account the 90-day investment horizon SentinelOne is expected to under-perform the Natixis ETF. In addition to that, SentinelOne is 2.75 times more volatile than Natixis ETF Trust. It trades about -0.11 of its total potential returns per unit of risk. Natixis ETF Trust is currently generating about -0.06 per unit of volatility. If you would invest  5,396  in Natixis ETF Trust on December 29, 2024 and sell it today you would lose (187.00) from holding Natixis ETF Trust or give up 3.47% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Strong
Accuracy	100.0%
Values	Daily Returns

SentinelOne  vs.  Natixis ETF Trust

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.

Natixis ETF Trust

Risk-Adjusted Performance

Very Weak

Over the last 90 days Natixis ETF Trust has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong basic indicators, Natixis ETF is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.

Pair Trading with SentinelOne and Natixis ETF

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

The idea behind SentinelOne and Natixis ETF Trust 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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.