Correlation Between SentinelOne and Cheche Group
Can any of the company-specific risk be diversified away by investing in both SentinelOne and Cheche Group 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 Cheche Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SentinelOne and Cheche Group Class, you can compare the effects of market volatilities on SentinelOne and Cheche Group 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 Cheche Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of SentinelOne and Cheche Group.
Diversification Opportunities for SentinelOne and Cheche Group
0.03 | Correlation Coefficient |
Significant diversification
The 3 months correlation between SentinelOne and Cheche is 0.03. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and Cheche Group Class in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cheche Group Class 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 Cheche Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cheche Group Class has no effect on the direction of SentinelOne i.e., SentinelOne and Cheche Group go up and down completely randomly.
Pair Corralation between SentinelOne and Cheche Group
Taking into account the 90-day investment horizon SentinelOne is expected to generate 0.61 times more return on investment than Cheche Group. However, SentinelOne is 1.64 times less risky than Cheche Group. It trades about 0.04 of its potential returns per unit of risk. Cheche Group Class is currently generating about -0.01 per unit of risk. If you would invest 1,682 in SentinelOne on April 17, 2025 and sell it today you would earn a total of 81.00 from holding SentinelOne or generate 4.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SentinelOne vs. Cheche Group Class
Performance |
| Timeline |
| SentinelOne |
| Cheche Group Class |
SentinelOne and Cheche Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SentinelOne and Cheche Group
The main advantage of trading using opposite SentinelOne and Cheche Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SentinelOne position performs unexpectedly, Cheche Group 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 Cheche Group will offset losses from the drop in Cheche Group's long position.| SentinelOne vs. Palantir Technologies Class | SentinelOne vs. Crowdstrike Holdings | SentinelOne vs. Oracle | SentinelOne vs. CoreWeave, Class A |
| Cheche Group vs. New Oriental Education | Cheche Group vs. Strategic Education | Cheche Group vs. Daily Journal Corp | Cheche Group vs. SunOpta |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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