Correlation Between Lindblad Expeditions and First Republic
Can any of the company-specific risk be diversified away by investing in both Lindblad Expeditions and First Republic 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 First Republic 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 First Republic Bank, you can compare the effects of market volatilities on Lindblad Expeditions and First Republic 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 First Republic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lindblad Expeditions and First Republic.
Diversification Opportunities for Lindblad Expeditions and First Republic
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lindblad and First is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lindblad Expeditions Holdings and First Republic Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First Republic Bank 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 First Republic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of First Republic Bank has no effect on the direction of Lindblad Expeditions i.e., Lindblad Expeditions and First Republic go up and down completely randomly.
Pair Corralation between Lindblad Expeditions and First Republic
If you would invest 935.00 in Lindblad Expeditions Holdings on September 5, 2024 and sell it today you would earn a total of 404.00 from holding Lindblad Expeditions Holdings or generate 43.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
Lindblad Expeditions Holdings vs. First Republic Bank
Performance |
| Timeline |
| Lindblad Expeditions |
| First Republic Bank |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Lindblad Expeditions and First Republic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lindblad Expeditions and First Republic
The main advantage of trading using opposite Lindblad Expeditions and First Republic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lindblad Expeditions position performs unexpectedly, First Republic 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 First Republic will offset losses from the drop in First Republic's long position.| Lindblad Expeditions vs. Mondee Holdings | Lindblad Expeditions vs. MakeMyTrip Limited | Lindblad Expeditions vs. TripAdvisor | Lindblad Expeditions vs. Thayer Ventures Acquisition |
| First Republic vs. Valneva SE ADR | First Republic vs. Siriuspoint | First Republic vs. Direct Line Insurance | First Republic vs. Asure Software |
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 Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Fundamental Analysis View fundamental data based on most recent published financial statements |