Correlation Between SentinelOne and Aperam SA
Can any of the company-specific risk be diversified away by investing in both SentinelOne and Aperam SA 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 Aperam SA into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SentinelOne and Aperam SA, you can compare the effects of market volatilities on SentinelOne and Aperam SA 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 Aperam SA. Check out your portfolio center. Please also check ongoing floating volatility patterns of SentinelOne and Aperam SA.
Diversification Opportunities for SentinelOne and Aperam SA
-0.69 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between SentinelOne and Aperam is -0.69. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and Aperam SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aperam SA 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 Aperam SA. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aperam SA has no effect on the direction of SentinelOne i.e., SentinelOne and Aperam SA go up and down completely randomly.
Pair Corralation between SentinelOne and Aperam SA
Taking into account the 90-day investment horizon SentinelOne is expected to under-perform the Aperam SA. In addition to that, SentinelOne is 1.42 times more volatile than Aperam SA. It trades about -0.04 of its total potential returns per unit of risk. Aperam SA is currently generating about 0.11 per unit of volatility. If you would invest 2,649 in Aperam SA on September 26, 2025 and sell it today you would earn a total of 777.00 from holding Aperam SA or generate 29.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 97.67% |
| Values | Daily Returns |
SentinelOne vs. Aperam SA
Performance |
| Timeline |
| SentinelOne |
| Aperam SA |
SentinelOne and Aperam SA Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SentinelOne and Aperam SA
The main advantage of trading using opposite SentinelOne and Aperam SA positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SentinelOne position performs unexpectedly, Aperam SA 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 Aperam SA will offset losses from the drop in Aperam SA's long position.| SentinelOne vs. Apple Inc | SentinelOne vs. Alphabet Inc Class A | SentinelOne vs. NVIDIA | SentinelOne vs. Oracle |
| Aperam SA vs. Corbion NV | Aperam SA vs. OCI NV | Aperam SA vs. AMG Advanced Metallurgical | Aperam SA vs. Holland Colours NV |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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