Correlation Between Sentry Petroleum and CannTrust Holdings
Can any of the company-specific risk be diversified away by investing in both Sentry Petroleum and CannTrust Holdings 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 Sentry Petroleum and CannTrust Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sentry Petroleum and CannTrust Holdings, you can compare the effects of market volatilities on Sentry Petroleum and CannTrust Holdings 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 Sentry Petroleum with a short position of CannTrust Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sentry Petroleum and CannTrust Holdings.
Diversification Opportunities for Sentry Petroleum and CannTrust Holdings
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sentry and CannTrust is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Sentry Petroleum and CannTrust Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CannTrust Holdings and Sentry Petroleum 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 Sentry Petroleum are associated (or correlated) with CannTrust Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CannTrust Holdings has no effect on the direction of Sentry Petroleum i.e., Sentry Petroleum and CannTrust Holdings go up and down completely randomly.
Pair Corralation between Sentry Petroleum and CannTrust Holdings
If you would invest 0.00 in CannTrust Holdings on August 20, 2025 and sell it today you would earn a total of 0.00 from holding CannTrust Holdings or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Sentry Petroleum vs. CannTrust Holdings
Performance |
| Timeline |
| Sentry Petroleum |
| CannTrust Holdings |
Sentry Petroleum and CannTrust Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sentry Petroleum and CannTrust Holdings
The main advantage of trading using opposite Sentry Petroleum and CannTrust Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sentry Petroleum position performs unexpectedly, CannTrust Holdings 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 CannTrust Holdings will offset losses from the drop in CannTrust Holdings' long position.| Sentry Petroleum vs. MPX International Corp | Sentry Petroleum vs. North American Cannabis | Sentry Petroleum vs. Aeolus Pharmaceuticl | Sentry Petroleum vs. Halo Collective |
| CannTrust Holdings vs. MPX International Corp | CannTrust Holdings vs. North American Cannabis | CannTrust Holdings vs. Sentry Petroleum | CannTrust Holdings vs. Halo Collective |
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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