Correlation Between Lindblad Expeditions and MFA Financial
Can any of the company-specific risk be diversified away by investing in both Lindblad Expeditions and MFA Financial 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 MFA Financial 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 MFA Financial SR, you can compare the effects of market volatilities on Lindblad Expeditions and MFA Financial 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 MFA Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lindblad Expeditions and MFA Financial.
Diversification Opportunities for Lindblad Expeditions and MFA Financial
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Lindblad and MFA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Lindblad Expeditions Holdings and MFA Financial SR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MFA Financial SR 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 MFA Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MFA Financial SR has no effect on the direction of Lindblad Expeditions i.e., Lindblad Expeditions and MFA Financial go up and down completely randomly.
Pair Corralation between Lindblad Expeditions and MFA Financial
If you would invest 770.00 in Lindblad Expeditions Holdings on September 20, 2024 and sell it today you would earn a total of 433.00 from holding Lindblad Expeditions Holdings or generate 56.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Lindblad Expeditions Holdings vs. MFA Financial SR
Performance |
| Timeline |
| Lindblad Expeditions |
| MFA Financial SR |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Lindblad Expeditions and MFA Financial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lindblad Expeditions and MFA Financial
The main advantage of trading using opposite Lindblad Expeditions and MFA Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lindblad Expeditions position performs unexpectedly, MFA Financial 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 MFA Financial will offset losses from the drop in MFA Financial's long position.| Lindblad Expeditions vs. Tuniu Corp | Lindblad Expeditions vs. TripAdvisor | Lindblad Expeditions vs. Thayer Ventures Acquisition |
| MFA Financial vs. Lindblad Expeditions Holdings | MFA Financial vs. Weibo Corp | MFA Financial vs. Apogee Enterprises | MFA Financial vs. Zhihu Inc ADR |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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