Correlation Between Lindblad Expeditions and 1248EPCB7
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By analyzing existing cross correlation between Lindblad Expeditions Holdings and CCO Holdings 5375, you can compare the effects of market volatilities on Lindblad Expeditions and 1248EPCB7 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 1248EPCB7. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lindblad Expeditions and 1248EPCB7.
Diversification Opportunities for Lindblad Expeditions and 1248EPCB7
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lindblad and 1248EPCB7 is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Lindblad Expeditions Holdings and CCO Holdings 5375 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CCO Holdings 5375 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 1248EPCB7. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CCO Holdings 5375 has no effect on the direction of Lindblad Expeditions i.e., Lindblad Expeditions and 1248EPCB7 go up and down completely randomly.
Pair Corralation between Lindblad Expeditions and 1248EPCB7
Given the investment horizon of 90 days Lindblad Expeditions Holdings is expected to generate 9.16 times more return on investment than 1248EPCB7. However, Lindblad Expeditions is 9.16 times more volatile than CCO Holdings 5375. It trades about 0.3 of its potential returns per unit of risk. CCO Holdings 5375 is currently generating about -0.07 per unit of risk. If you would invest 935.00 in Lindblad Expeditions Holdings on September 3, 2024 and sell it today you would earn a total of 391.00 from holding Lindblad Expeditions Holdings or generate 41.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Lindblad Expeditions Holdings vs. CCO Holdings 5375
Performance |
| Timeline |
| Lindblad Expeditions |
| CCO Holdings 5375 |
Lindblad Expeditions and 1248EPCB7 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lindblad Expeditions and 1248EPCB7
The main advantage of trading using opposite Lindblad Expeditions and 1248EPCB7 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lindblad Expeditions position performs unexpectedly, 1248EPCB7 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 1248EPCB7 will offset losses from the drop in 1248EPCB7's long position.| Lindblad Expeditions vs. Yatra Online | Lindblad Expeditions vs. Despegar Corp | Lindblad Expeditions vs. Mondee Holdings | Lindblad Expeditions vs. MakeMyTrip Limited |
| 1248EPCB7 vs. Lindblad Expeditions Holdings | 1248EPCB7 vs. ATRenew Inc DRC | 1248EPCB7 vs. Hafnia Limited | 1248EPCB7 vs. United Airlines 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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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