Correlation Between Thayer Ventures and Lindblad Expeditions
Can any of the company-specific risk be diversified away by investing in both Thayer Ventures and Lindblad Expeditions 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 Thayer Ventures and Lindblad Expeditions into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Thayer Ventures Acquisition and Lindblad Expeditions Holdings, you can compare the effects of market volatilities on Thayer Ventures and Lindblad Expeditions 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 Thayer Ventures with a short position of Lindblad Expeditions. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thayer Ventures and Lindblad Expeditions.
Diversification Opportunities for Thayer Ventures and Lindblad Expeditions
-0.28 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Thayer and Lindblad is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding Thayer Ventures Acquisition and Lindblad Expeditions Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lindblad Expeditions and Thayer Ventures 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 Thayer Ventures Acquisition are associated (or correlated) with Lindblad Expeditions. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lindblad Expeditions has no effect on the direction of Thayer Ventures i.e., Thayer Ventures and Lindblad Expeditions go up and down completely randomly.
Pair Corralation between Thayer Ventures and Lindblad Expeditions
Assuming the 90 days horizon Thayer Ventures Acquisition is expected to generate 6.11 times more return on investment than Lindblad Expeditions. However, Thayer Ventures is 6.11 times more volatile than Lindblad Expeditions Holdings. It trades about 0.08 of its potential returns per unit of risk. Lindblad Expeditions Holdings is currently generating about 0.04 per unit of risk. If you would invest 5.00 in Thayer Ventures Acquisition on September 12, 2024 and sell it today you would lose (4.00) from holding Thayer Ventures Acquisition or give up 80.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Thayer Ventures Acquisition vs. Lindblad Expeditions Holdings
Performance |
| Timeline |
| Thayer Ventures Acqu |
| Lindblad Expeditions |
Thayer Ventures and Lindblad Expeditions Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thayer Ventures and Lindblad Expeditions
The main advantage of trading using opposite Thayer Ventures and Lindblad Expeditions positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thayer Ventures position performs unexpectedly, Lindblad Expeditions 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 Lindblad Expeditions will offset losses from the drop in Lindblad Expeditions' long position.| Thayer Ventures vs. Inspirato | Thayer Ventures vs. Anghami De | Thayer Ventures vs. Cepton Inc | Thayer Ventures vs. Cepton Inc |
| Lindblad Expeditions vs. Yatra Online | Lindblad Expeditions vs. Despegar Corp | Lindblad Expeditions vs. Mondee Holdings | Lindblad Expeditions vs. MakeMyTrip Limited |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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