Correlation Between SentinelOne and Coloplast A/S

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

Diversification Opportunities for SentinelOne and Coloplast A/S

0.06
  Correlation Coefficient

Significant diversification

The 3 months correlation between SentinelOne and Coloplast is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and Coloplast AS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Coloplast A/S 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 Coloplast A/S. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Coloplast A/S has no effect on the direction of SentinelOne i.e., SentinelOne and Coloplast A/S go up and down completely randomly.

Pair Corralation between SentinelOne and Coloplast A/S

Taking into account the 90-day investment horizon SentinelOne is expected to under-perform the Coloplast A/S. In addition to that, SentinelOne is 1.64 times more volatile than Coloplast AS. It trades about -0.09 of its total potential returns per unit of risk. Coloplast AS is currently generating about -0.02 per unit of volatility. If you would invest  8,096  in Coloplast AS on July 20, 2025 and sell it today you would lose (270.00) from holding Coloplast AS or give up 3.33% of portfolio value over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthInsignificant
Accuracy98.48%
ValuesDaily Returns

SentinelOne  vs.  Coloplast AS

 Performance 
       Timeline  
SentinelOne 

Risk-Adjusted Performance

Weakest

 
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 weak performance in the last few months, the Stock's basic indicators remain comparatively stable which may send shares a bit higher in November 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.
Coloplast A/S 

Risk-Adjusted Performance

Weakest

 
Weak
 
Strong
Over the last 90 days Coloplast AS has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental indicators, Coloplast A/S is not utilizing all of its potentials. The latest stock price tumult, may contribute to shorter-term losses for the shareholders.

SentinelOne and Coloplast A/S Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with SentinelOne and Coloplast A/S

The main advantage of trading using opposite SentinelOne and Coloplast A/S positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SentinelOne position performs unexpectedly, Coloplast A/S 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 Coloplast A/S will offset losses from the drop in Coloplast A/S's long position.
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The idea behind SentinelOne and Coloplast AS 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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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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.

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