Correlation Between Lindblad Expeditions and CINTAS
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By analyzing existing cross correlation between Lindblad Expeditions Holdings and CINTAS P NO, you can compare the effects of market volatilities on Lindblad Expeditions and CINTAS 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 CINTAS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lindblad Expeditions and CINTAS.
Diversification Opportunities for Lindblad Expeditions and CINTAS
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Lindblad and CINTAS is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Lindblad Expeditions Holdings and CINTAS P NO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CINTAS P NO 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 CINTAS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CINTAS P NO has no effect on the direction of Lindblad Expeditions i.e., Lindblad Expeditions and CINTAS go up and down completely randomly.
Pair Corralation between Lindblad Expeditions and CINTAS
Given the investment horizon of 90 days Lindblad Expeditions Holdings is expected to generate 5.57 times more return on investment than CINTAS. However, Lindblad Expeditions is 5.57 times more volatile than CINTAS P NO. It trades about 0.3 of its potential returns per unit of risk. CINTAS P NO is currently generating about 0.17 per unit of risk. If you would invest 935.00 in Lindblad Expeditions Holdings on September 4, 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 | Moves Together |
| Strength | Insignificant |
| Accuracy | 33.33% |
| Values | Daily Returns |
Lindblad Expeditions Holdings vs. CINTAS P NO
Performance |
| Timeline |
| Lindblad Expeditions |
| CINTAS P NO |
Lindblad Expeditions and CINTAS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lindblad Expeditions and CINTAS
The main advantage of trading using opposite Lindblad Expeditions and CINTAS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lindblad Expeditions position performs unexpectedly, CINTAS 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 CINTAS will offset losses from the drop in CINTAS's long position.| Lindblad Expeditions vs. Mondee Holdings | Lindblad Expeditions vs. MakeMyTrip Limited | Lindblad Expeditions vs. TripAdvisor | Lindblad Expeditions vs. Thayer Ventures Acquisition |
| CINTAS vs. Park Hotels Resorts | CINTAS vs. Ryman Hospitality Properties | CINTAS vs. TFI International | CINTAS 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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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