Correlation Between TUI AG and Lindblad Expeditions
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By analyzing existing cross correlation between TUI AG and Lindblad Expeditions Holdings, you can compare the effects of market volatilities on TUI AG and Lindblad Expeditions 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 TUI AG with a short position of Lindblad Expeditions. Check out your portfolio center. Please also check ongoing floating volatility patterns of TUI AG and Lindblad Expeditions.
Diversification Opportunities for TUI AG and Lindblad Expeditions
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between TUI and Lindblad is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding TUI AG and Lindblad Expeditions Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lindblad Expeditions and TUI AG 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 TUI AG are associated (or correlated) with Lindblad Expeditions. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lindblad Expeditions has no effect on the direction of TUI AG i.e., TUI AG and Lindblad Expeditions go up and down completely randomly.
Pair Corralation between TUI AG and Lindblad Expeditions
Assuming the 90 days trading horizon TUI AG is expected to generate 5.03 times less return on investment than Lindblad Expeditions. But when comparing it to its historical volatility, TUI AG is 2.21 times less risky than Lindblad Expeditions. It trades about 0.04 of its potential returns per unit of risk. Lindblad Expeditions Holdings is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 665.00 in Lindblad Expeditions Holdings on September 3, 2024 and sell it today you would earn a total of 515.00 from holding Lindblad Expeditions Holdings or generate 77.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
TUI AG vs. Lindblad Expeditions Holdings
Performance |
| Timeline |
| TUI AG |
| Lindblad Expeditions |
TUI AG and Lindblad Expeditions Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TUI AG and Lindblad Expeditions
The main advantage of trading using opposite TUI AG and Lindblad Expeditions positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TUI AG position performs unexpectedly, Lindblad Expeditions 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 Lindblad Expeditions will offset losses from the drop in Lindblad Expeditions' long position.| TUI AG vs. TIANDE CHEMICAL | TUI AG vs. Mitsubishi Gas Chemical | TUI AG vs. NISSAN CHEMICAL IND | TUI AG vs. Soken Chemical Engineering |
| Lindblad Expeditions vs. BII Railway Transportation | Lindblad Expeditions vs. USWE SPORTS AB | Lindblad Expeditions vs. TITANIUM TRANSPORTGROUP | Lindblad Expeditions vs. PARKEN Sport Entertainment |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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