Norwegian Cruise Correlations

NCLH Stock

USD 15.69 0.62 3.80%

The current 90-days correlation between Norwegian Cruise Line and Airbnb Inc is 0.52 (i.e., Very weak diversification). The correlation of Norwegian Cruise is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Norwegian Cruise Correlation With Market

Poor diversification

The correlation between Norwegian Cruise Line and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Norwegian Cruise Line and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Norwegian Cruise Line. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Norwegian Stock

0.94	H	Hyatt Hotels	Pair Corr
0.62	BH	Biglari Holdings	Pair Corr
0.7	SG	Sweetgreen	Pair Corr
0.83	WH	Wyndham Hotels Resorts	Pair Corr
0.72	WW	WW International	Pair Corr
0.92	DNUT	Krispy Kreme	Pair Corr
0.87	WING	Wingstop	Pair Corr
0.79	FLUT	Flutter Entertainment plc	Pair Corr
0.89	BYD	Boyd Gaming	Pair Corr
0.96	CCL	Carnival	Pair Corr
0.76	CHH	Choice Hotels Intern	Pair Corr
0.86	CMG	Chipotle Mexican Grill	Pair Corr
0.73	CSV	Carriage Services	Pair Corr
0.96	CUK	Carnival Plc ADS	Pair Corr
0.92	CZR	Caesars Entertainment	Pair Corr
0.78	DIN	Dine Brands Global	Pair Corr
0.84	FLL	Full House Resorts	Pair Corr
0.85	FUN	Six Flags Entertainment	Pair Corr
0.96	FTDR	Frontdoor	Pair Corr
0.73	HGV	Hilton Grand Vacations	Pair Corr
0.66	HLT	Hilton Worldwide Holdings	Pair Corr
0.86	IHG	InterContinental Hotels	Pair Corr

Moving against Norwegian Stock

0.38	DRI	Darden Restaurants	Pair Corr
0.36	AGS	PlayAGS	Pair Corr
0.34	CDROW	Codere Online Luxembourg	Pair Corr
0.75	QSR	Restaurant Brands	Pair Corr
0.68	MCD	McDonalds	Pair Corr
0.56	EJH	E Home Household	Pair Corr
0.52	LNW	Light Wonder	Pair Corr

Related Correlations Analysis

	CCL	ABNB	EXPE	BKNG	RCL	TRIP
CCL		0.53	0.51	0.6	0.9	0.83	CCL
ABNB	0.53		0.87	0.81	0.61	0.45	ABNB
EXPE	0.51	0.87		0.9	0.54	0.39	EXPE
BKNG	0.6	0.81	0.9		0.6	0.46	BKNG
RCL	0.9	0.61	0.54	0.6		0.88	RCL
TRIP	0.83	0.45	0.39	0.46	0.88		TRIP
	CCL	ABNB	EXPE	BKNG	RCL	TRIP

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Risk-Adjusted Indicators

There is a big difference between Norwegian Stock performing well and Norwegian Cruise Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Norwegian Cruise's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CCL	2.29	(0.43)	(0.99)	4.18	(5.86)	15.70
ABNB	1.98	(0.08)	(0.23)	3.32	(5.67)	21.64
EXPE	1.96	(0.15)	(0.28)	2.75	(4.27)	26.49
BKNG	1.46	(0.06)	(0.22)	2.47	(4.50)	9.40
RCL	2.28	(0.06)	(0.19)	3.66	(6.82)	23.04
TRIP	2.27	0.00	(0.16)	3.35	(6.78)	23.21

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