Correlation Between Lindblad Expeditions and Goldman Sachs
Can any of the company-specific risk be diversified away by investing in both Lindblad Expeditions and Goldman Sachs 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 Goldman Sachs 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 Goldman Sachs Capital, you can compare the effects of market volatilities on Lindblad Expeditions and Goldman Sachs 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 Goldman Sachs. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lindblad Expeditions and Goldman Sachs.
Diversification Opportunities for Lindblad Expeditions and Goldman Sachs
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between Lindblad and Goldman is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding Lindblad Expeditions Holdings and Goldman Sachs Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Goldman Sachs Capital 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 Goldman Sachs. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Goldman Sachs Capital has no effect on the direction of Lindblad Expeditions i.e., Lindblad Expeditions and Goldman Sachs go up and down completely randomly.
Pair Corralation between Lindblad Expeditions and Goldman Sachs
Given the investment horizon of 90 days Lindblad Expeditions Holdings is expected to generate 1.02 times more return on investment than Goldman Sachs. However, Lindblad Expeditions is 1.02 times more volatile than Goldman Sachs Capital. It trades about 0.04 of its potential returns per unit of risk. Goldman Sachs Capital is currently generating about 0.02 per unit of risk. If you would invest 864.00 in Lindblad Expeditions Holdings on September 2, 2024 and sell it today you would earn a total of 462.00 from holding Lindblad Expeditions Holdings or generate 53.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 87.1% |
| Values | Daily Returns |
Lindblad Expeditions Holdings vs. Goldman Sachs Capital
Performance |
| Timeline |
| Lindblad Expeditions |
| Goldman Sachs Capital |
Lindblad Expeditions and Goldman Sachs Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lindblad Expeditions and Goldman Sachs
The main advantage of trading using opposite Lindblad Expeditions and Goldman Sachs positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lindblad Expeditions position performs unexpectedly, Goldman Sachs 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 Goldman Sachs will offset losses from the drop in Goldman Sachs' long position.| Lindblad Expeditions vs. Mondee Holdings | Lindblad Expeditions vs. MakeMyTrip Limited | Lindblad Expeditions vs. Tuniu Corp | Lindblad Expeditions vs. TripAdvisor |
| Goldman Sachs vs. Evertz Technologies Limited | Goldman Sachs vs. Fluent Inc | Goldman Sachs vs. Marchex | Goldman Sachs vs. Dolphin Entertainment |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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