Correlation Between SentinelOne and ProShares Ultra
Can any of the company-specific risk be diversified away by investing in both SentinelOne and ProShares Ultra 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 ProShares Ultra into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SentinelOne and ProShares Ultra Yen, you can compare the effects of market volatilities on SentinelOne and ProShares Ultra 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 ProShares Ultra. Check out your portfolio center. Please also check ongoing floating volatility patterns of SentinelOne and ProShares Ultra.
Diversification Opportunities for SentinelOne and ProShares Ultra
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between SentinelOne and ProShares is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding SentinelOne and ProShares Ultra Yen in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ProShares Ultra Yen 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 ProShares Ultra. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ProShares Ultra Yen has no effect on the direction of SentinelOne i.e., SentinelOne and ProShares Ultra go up and down completely randomly.
Pair Corralation between SentinelOne and ProShares Ultra
Taking into account the 90-day investment horizon SentinelOne is expected to generate 2.22 times more return on investment than ProShares Ultra. However, SentinelOne is 2.22 times more volatile than ProShares Ultra Yen. It trades about -0.03 of its potential returns per unit of risk. ProShares Ultra Yen is currently generating about -0.09 per unit of risk. If you would invest 1,761 in SentinelOne on May 30, 2025 and sell it today you would lose (119.00) from holding SentinelOne or give up 6.76% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SentinelOne vs. ProShares Ultra Yen
Performance |
| Timeline |
| SentinelOne |
| ProShares Ultra Yen |
SentinelOne and ProShares Ultra Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SentinelOne and ProShares Ultra
The main advantage of trading using opposite SentinelOne and ProShares Ultra positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SentinelOne position performs unexpectedly, ProShares Ultra 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 ProShares Ultra will offset losses from the drop in ProShares Ultra's long position.| SentinelOne vs. Crowdstrike Holdings | SentinelOne vs. Oracle | SentinelOne vs. CoreWeave, Class A | SentinelOne vs. Palo Alto Networks |
| ProShares Ultra vs. ProShares Ultra Euro | ProShares Ultra vs. ProShares UltraShort Yen | ProShares Ultra vs. ProShares Ultra Telecommunications | ProShares Ultra vs. ProShares Ultra Consumer |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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