Correlation Between Lindblad Expeditions and Southwestern
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By analyzing existing cross correlation between Lindblad Expeditions Holdings and Southwestern Energy 495, you can compare the effects of market volatilities on Lindblad Expeditions and Southwestern 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 Southwestern. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lindblad Expeditions and Southwestern.
Diversification Opportunities for Lindblad Expeditions and Southwestern
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Lindblad and Southwestern is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Lindblad Expeditions Holdings and Southwestern Energy 495 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Southwestern Energy 495 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 Southwestern. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Southwestern Energy 495 has no effect on the direction of Lindblad Expeditions i.e., Lindblad Expeditions and Southwestern go up and down completely randomly.
Pair Corralation between Lindblad Expeditions and Southwestern
Given the investment horizon of 90 days Lindblad Expeditions Holdings is expected to generate 9.55 times more return on investment than Southwestern. However, Lindblad Expeditions is 9.55 times more volatile than Southwestern Energy 495. It trades about 0.04 of its potential returns per unit of risk. Southwestern Energy 495 is currently generating about 0.0 per unit of risk. If you would invest 720.00 in Lindblad Expeditions Holdings on September 12, 2024 and sell it today you would earn a total of 454.00 from holding Lindblad Expeditions Holdings or generate 63.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.96% |
| Values | Daily Returns |
Lindblad Expeditions Holdings vs. Southwestern Energy 495
Performance |
| Timeline |
| Lindblad Expeditions |
| Southwestern Energy 495 |
Lindblad Expeditions and Southwestern Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lindblad Expeditions and Southwestern
The main advantage of trading using opposite Lindblad Expeditions and Southwestern positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lindblad Expeditions position performs unexpectedly, Southwestern 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 Southwestern will offset losses from the drop in Southwestern's long position.| Lindblad Expeditions vs. Yatra Online | Lindblad Expeditions vs. Despegar Corp | Lindblad Expeditions vs. Mondee Holdings | Lindblad Expeditions vs. MakeMyTrip Limited |
| Southwestern vs. Mesa Air Group | Southwestern vs. Stepan Company | Southwestern vs. Lindblad Expeditions Holdings | Southwestern vs. Delek Logistics 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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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