Correlation Between QBEAU and Lindblad Expeditions
Specify exactly 2 symbols:
By analyzing existing cross correlation between QBEAU 5875 and Lindblad Expeditions Holdings, you can compare the effects of market volatilities on QBEAU 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 QBEAU with a short position of Lindblad Expeditions. Check out your portfolio center. Please also check ongoing floating volatility patterns of QBEAU and Lindblad Expeditions.
Diversification Opportunities for QBEAU and Lindblad Expeditions
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between QBEAU and Lindblad is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding QBEAU 5875 and Lindblad Expeditions Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lindblad Expeditions and QBEAU 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 QBEAU 5875 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 QBEAU i.e., QBEAU and Lindblad Expeditions go up and down completely randomly.
Pair Corralation between QBEAU and Lindblad Expeditions
Assuming the 90 days trading horizon QBEAU 5875 is expected to under-perform the Lindblad Expeditions. But the bond apears to be less risky and, when comparing its historical volatility, QBEAU 5875 is 6.8 times less risky than Lindblad Expeditions. The bond trades about -0.28 of its potential returns per unit of risk. The Lindblad Expeditions Holdings is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 1,007 in Lindblad Expeditions Holdings on August 30, 2024 and sell it today you would earn a total of 253.00 from holding Lindblad Expeditions Holdings or generate 25.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 59.09% |
| Values | Daily Returns |
QBEAU 5875 vs. Lindblad Expeditions Holdings
Performance |
| Timeline |
| QBEAU 5875 |
| Lindblad Expeditions |
QBEAU and Lindblad Expeditions Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with QBEAU and Lindblad Expeditions
The main advantage of trading using opposite QBEAU and Lindblad Expeditions positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if QBEAU 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.The idea behind QBEAU 5875 and Lindblad Expeditions Holdings pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| 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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Other Complementary Tools
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes |