Correlation Between Lindblad Expeditions and Ameritrans Capital
Can any of the company-specific risk be diversified away by investing in both Lindblad Expeditions and Ameritrans Capital 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 Lindblad Expeditions and Ameritrans Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lindblad Expeditions Holdings and Ameritrans Capital Corp, you can compare the effects of market volatilities on Lindblad Expeditions and Ameritrans Capital 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 Lindblad Expeditions with a short position of Ameritrans Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lindblad Expeditions and Ameritrans Capital.
Diversification Opportunities for Lindblad Expeditions and Ameritrans Capital
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lindblad and Ameritrans is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lindblad Expeditions Holdings and Ameritrans Capital Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ameritrans Capital Corp and Lindblad Expeditions 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 Lindblad Expeditions Holdings are associated (or correlated) with Ameritrans Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ameritrans Capital Corp has no effect on the direction of Lindblad Expeditions i.e., Lindblad Expeditions and Ameritrans Capital go up and down completely randomly.
Pair Corralation between Lindblad Expeditions and Ameritrans Capital
If you would invest 991.00 in Lindblad Expeditions Holdings on August 28, 2024 and sell it today you would earn a total of 291.00 from holding Lindblad Expeditions Holdings or generate 29.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Lindblad Expeditions Holdings vs. Ameritrans Capital Corp
Performance |
| Timeline |
| Lindblad Expeditions |
| Ameritrans Capital Corp |
Lindblad Expeditions and Ameritrans Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lindblad Expeditions and Ameritrans Capital
The main advantage of trading using opposite Lindblad Expeditions and Ameritrans Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lindblad Expeditions position performs unexpectedly, Ameritrans Capital 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 Ameritrans Capital will offset losses from the drop in Ameritrans Capital's long position.| Lindblad Expeditions vs. Yatra Online | Lindblad Expeditions vs. Despegar Corp | Lindblad Expeditions vs. Mondee Holdings | Lindblad Expeditions vs. MakeMyTrip Limited |
| Ameritrans Capital vs. Highway Holdings Limited | Ameritrans Capital vs. Mesa Air Group | Ameritrans Capital vs. Eastman Kodak Co | Ameritrans Capital vs. Lindblad Expeditions Holdings |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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