Correlation Between SentinelOne and Franklin Real
Can any of the company-specific risk be diversified away by investing in both SentinelOne and Franklin Real 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 Franklin Real into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SentinelOne and Franklin Real Estate, you can compare the effects of market volatilities on SentinelOne and Franklin Real 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 Franklin Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of SentinelOne and Franklin Real.
Diversification Opportunities for SentinelOne and Franklin Real
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between SentinelOne and Franklin is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and Franklin Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Franklin Real Estate 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 Franklin Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Franklin Real Estate has no effect on the direction of SentinelOne i.e., SentinelOne and Franklin Real go up and down completely randomly.
Pair Corralation between SentinelOne and Franklin Real
Taking into account the 90-day investment horizon SentinelOne is expected to generate 2.05 times more return on investment than Franklin Real. However, SentinelOne is 2.05 times more volatile than Franklin Real Estate. It trades about 0.07 of its potential returns per unit of risk. Franklin Real Estate is currently generating about -0.02 per unit of risk. If you would invest 1,761 in SentinelOne on April 19, 2025 and sell it today you would earn a total of 40.00 from holding SentinelOne or generate 2.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SentinelOne vs. Franklin Real Estate
Performance |
| Timeline |
| SentinelOne |
| Franklin Real Estate |
SentinelOne and Franklin Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SentinelOne and Franklin Real
The main advantage of trading using opposite SentinelOne and Franklin Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SentinelOne position performs unexpectedly, Franklin Real 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 Franklin Real will offset losses from the drop in Franklin Real's long position.| SentinelOne vs. Palantir Technologies Class | SentinelOne vs. Crowdstrike Holdings | SentinelOne vs. Oracle | SentinelOne vs. CoreWeave, Class A |
| Franklin Real vs. Barings High Yield | Franklin Real vs. Blackrock High Yield | Franklin Real vs. Janus High Yield Fund | Franklin Real vs. Fidelity Capital Income |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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