Correlation Between 695114CL0 and Lindblad Expeditions
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By analyzing existing cross correlation between PACIFICORP 6 percent and Lindblad Expeditions Holdings, you can compare the effects of market volatilities on 695114CL0 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 695114CL0 with a short position of Lindblad Expeditions. Check out your portfolio center. Please also check ongoing floating volatility patterns of 695114CL0 and Lindblad Expeditions.
Diversification Opportunities for 695114CL0 and Lindblad Expeditions
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 695114CL0 and Lindblad is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding PACIFICORP 6 percent and Lindblad Expeditions Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lindblad Expeditions and 695114CL0 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 PACIFICORP 6 percent 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 695114CL0 i.e., 695114CL0 and Lindblad Expeditions go up and down completely randomly.
Pair Corralation between 695114CL0 and Lindblad Expeditions
Assuming the 90 days trading horizon 695114CL0 is expected to generate 9.88 times less return on investment than Lindblad Expeditions. But when comparing it to its historical volatility, PACIFICORP 6 percent is 2.58 times less risky than Lindblad Expeditions. It trades about 0.01 of its potential returns per unit of risk. Lindblad Expeditions Holdings is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 990.00 in Lindblad Expeditions Holdings on August 31, 2024 and sell it today you would earn a total of 336.00 from holding Lindblad Expeditions Holdings or generate 33.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.2% |
| Values | Daily Returns |
PACIFICORP 6 percent vs. Lindblad Expeditions Holdings
Performance |
| Timeline |
| PACIFICORP 6 percent |
| Lindblad Expeditions |
695114CL0 and Lindblad Expeditions Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 695114CL0 and Lindblad Expeditions
The main advantage of trading using opposite 695114CL0 and Lindblad Expeditions positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 695114CL0 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.| 695114CL0 vs. Wabash National | 695114CL0 vs. Glacier Bancorp | 695114CL0 vs. Ecoloclean Industrs | 695114CL0 vs. U Power Limited |
| Lindblad Expeditions vs. Yatra Online | Lindblad Expeditions vs. Despegar Corp | Lindblad Expeditions vs. Mondee Holdings | Lindblad Expeditions vs. MakeMyTrip Limited |
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.
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