Correlation Between Lindblad Expeditions and AKERBP
Specify exactly 2 symbols:
By analyzing existing cross correlation between Lindblad Expeditions Holdings and AKERBP 2 15 JUL 26, you can compare the effects of market volatilities on Lindblad Expeditions and AKERBP 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 AKERBP. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lindblad Expeditions and AKERBP.
Diversification Opportunities for Lindblad Expeditions and AKERBP
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Lindblad and AKERBP is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Lindblad Expeditions Holdings and AKERBP 2 15 JUL 26 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AKERBP 2 15 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 AKERBP. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AKERBP 2 15 has no effect on the direction of Lindblad Expeditions i.e., Lindblad Expeditions and AKERBP go up and down completely randomly.
Pair Corralation between Lindblad Expeditions and AKERBP
Given the investment horizon of 90 days Lindblad Expeditions Holdings is expected to generate 2.45 times more return on investment than AKERBP. However, Lindblad Expeditions is 2.45 times more volatile than AKERBP 2 15 JUL 26. It trades about 0.12 of its potential returns per unit of risk. AKERBP 2 15 JUL 26 is currently generating about -0.03 per unit of risk. If you would invest 739.00 in Lindblad Expeditions Holdings on September 3, 2024 and sell it today you would earn a total of 587.00 from holding Lindblad Expeditions Holdings or generate 79.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 41.1% |
| Values | Daily Returns |
Lindblad Expeditions Holdings vs. AKERBP 2 15 JUL 26
Performance |
| Timeline |
| Lindblad Expeditions |
| AKERBP 2 15 |
Lindblad Expeditions and AKERBP Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lindblad Expeditions and AKERBP
The main advantage of trading using opposite Lindblad Expeditions and AKERBP positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lindblad Expeditions position performs unexpectedly, AKERBP 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 AKERBP will offset losses from the drop in AKERBP's long position.| Lindblad Expeditions vs. Yatra Online | Lindblad Expeditions vs. Despegar Corp | Lindblad Expeditions vs. Mondee Holdings | Lindblad Expeditions vs. MakeMyTrip Limited |
| AKERBP vs. Vindicator Silver Lead Mining | AKERBP vs. Lindblad Expeditions Holdings | AKERBP vs. Summit Materials | AKERBP vs. Evolution Mining |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Complementary Tools
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios |