Correlation Between Lindblad Expeditions and 74965LAA9
Specify exactly 2 symbols:
By analyzing existing cross correlation between Lindblad Expeditions Holdings and US74965LAA98, you can compare the effects of market volatilities on Lindblad Expeditions and 74965LAA9 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 74965LAA9. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lindblad Expeditions and 74965LAA9.
Diversification Opportunities for Lindblad Expeditions and 74965LAA9
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lindblad and 74965LAA9 is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Lindblad Expeditions Holdings and US74965LAA98 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on US74965LAA98 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 74965LAA9. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of US74965LAA98 has no effect on the direction of Lindblad Expeditions i.e., Lindblad Expeditions and 74965LAA9 go up and down completely randomly.
Pair Corralation between Lindblad Expeditions and 74965LAA9
Given the investment horizon of 90 days Lindblad Expeditions Holdings is expected to generate 4.46 times more return on investment than 74965LAA9. However, Lindblad Expeditions is 4.46 times more volatile than US74965LAA98. It trades about 0.32 of its potential returns per unit of risk. US74965LAA98 is currently generating about -0.21 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 449.00 from holding Lindblad Expeditions Holdings or generate 48.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Lindblad Expeditions Holdings vs. US74965LAA98
Performance |
| Timeline |
| Lindblad Expeditions |
| US74965LAA98 |
Lindblad Expeditions and 74965LAA9 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lindblad Expeditions and 74965LAA9
The main advantage of trading using opposite Lindblad Expeditions and 74965LAA9 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lindblad Expeditions position performs unexpectedly, 74965LAA9 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 74965LAA9 will offset losses from the drop in 74965LAA9's long position.| Lindblad Expeditions vs. Mondee Holdings | Lindblad Expeditions vs. MakeMyTrip Limited | Lindblad Expeditions vs. TripAdvisor | Lindblad Expeditions vs. Thayer Ventures Acquisition |
| 74965LAA9 vs. SNDL Inc | 74965LAA9 vs. Bright Scholar Education | 74965LAA9 vs. Lindblad Expeditions Holdings | 74965LAA9 vs. NH Foods Ltd |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
Other Complementary Tools
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world |