Correlation Between Lindblad Expeditions and Meiwu Technology
Can any of the company-specific risk be diversified away by investing in both Lindblad Expeditions and Meiwu Technology at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Lindblad Expeditions and Meiwu Technology into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Lindblad Expeditions Holdings and Meiwu Technology Co, you can compare the effects of market volatilities on Lindblad Expeditions and Meiwu Technology 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 Meiwu Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lindblad Expeditions and Meiwu Technology.
Diversification Opportunities for Lindblad Expeditions and Meiwu Technology
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between Lindblad and Meiwu is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding Lindblad Expeditions Holdings and Meiwu Technology Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Meiwu Technology 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 Meiwu Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Meiwu Technology has no effect on the direction of Lindblad Expeditions i.e., Lindblad Expeditions and Meiwu Technology go up and down completely randomly.
Pair Corralation between Lindblad Expeditions and Meiwu Technology
Given the investment horizon of 90 days Lindblad Expeditions Holdings is expected to generate 0.44 times more return on investment than Meiwu Technology. However, Lindblad Expeditions Holdings is 2.25 times less risky than Meiwu Technology. It trades about 0.04 of its potential returns per unit of risk. Meiwu Technology Co is currently generating about -0.02 per unit of risk. If you would invest 864.00 in Lindblad Expeditions Holdings on September 1, 2024 and sell it today you would earn a total of 462.00 from holding Lindblad Expeditions Holdings or generate 53.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lindblad Expeditions Holdings vs. Meiwu Technology Co
Performance |
| Timeline |
| Lindblad Expeditions |
| Meiwu Technology |
Lindblad Expeditions and Meiwu Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lindblad Expeditions and Meiwu Technology
The main advantage of trading using opposite Lindblad Expeditions and Meiwu Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lindblad Expeditions position performs unexpectedly, Meiwu Technology 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 Meiwu Technology will offset losses from the drop in Meiwu Technology's long position.| Lindblad Expeditions vs. Yatra Online | Lindblad Expeditions vs. Despegar Corp | Lindblad Expeditions vs. Mondee Holdings | Lindblad Expeditions vs. MakeMyTrip Limited |
| Meiwu Technology vs. MOGU Inc | Meiwu Technology vs. iPower Inc | Meiwu Technology vs. Jeffs Brands | Meiwu Technology vs. Kidpik Corp |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
Other Complementary Tools
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance |