Correlation Between Lindblad Expeditions and 63633DAF1
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By analyzing existing cross correlation between Lindblad Expeditions Holdings and NHI 3 01 FEB 31, you can compare the effects of market volatilities on Lindblad Expeditions and 63633DAF1 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 63633DAF1. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lindblad Expeditions and 63633DAF1.
Diversification Opportunities for Lindblad Expeditions and 63633DAF1
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lindblad and 63633DAF1 is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Lindblad Expeditions Holdings and NHI 3 01 FEB 31 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 63633DAF1 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 63633DAF1. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 63633DAF1 has no effect on the direction of Lindblad Expeditions i.e., Lindblad Expeditions and 63633DAF1 go up and down completely randomly.
Pair Corralation between Lindblad Expeditions and 63633DAF1
Given the investment horizon of 90 days Lindblad Expeditions Holdings is expected to generate 1.26 times more return on investment than 63633DAF1. However, Lindblad Expeditions is 1.26 times more volatile than NHI 3 01 FEB 31. It trades about -0.18 of its potential returns per unit of risk. NHI 3 01 FEB 31 is currently generating about -0.28 per unit of risk. If you would invest 1,326 in Lindblad Expeditions Holdings on September 12, 2024 and sell it today you would lose (152.00) from holding Lindblad Expeditions Holdings or give up 11.46% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Lindblad Expeditions Holdings vs. NHI 3 01 FEB 31
Performance |
| Timeline |
| Lindblad Expeditions |
| 63633DAF1 |
Lindblad Expeditions and 63633DAF1 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lindblad Expeditions and 63633DAF1
The main advantage of trading using opposite Lindblad Expeditions and 63633DAF1 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lindblad Expeditions position performs unexpectedly, 63633DAF1 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 63633DAF1 will offset losses from the drop in 63633DAF1's long position.| Lindblad Expeditions vs. Yatra Online | Lindblad Expeditions vs. Despegar Corp | Lindblad Expeditions vs. Mondee Holdings | Lindblad Expeditions vs. MakeMyTrip Limited |
| 63633DAF1 vs. Kaltura | 63633DAF1 vs. Genfit | 63633DAF1 vs. WT Offshore | 63633DAF1 vs. KNOT Offshore Partners |
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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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