Correlation Between TRAVELERS and Lindblad Expeditions
Specify exactly 2 symbols:
By analyzing existing cross correlation between TRAVELERS INS GROUP and Lindblad Expeditions Holdings, you can compare the effects of market volatilities on TRAVELERS 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 TRAVELERS with a short position of Lindblad Expeditions. Check out your portfolio center. Please also check ongoing floating volatility patterns of TRAVELERS and Lindblad Expeditions.
Diversification Opportunities for TRAVELERS and Lindblad Expeditions
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between TRAVELERS and Lindblad is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding TRAVELERS INS GROUP and Lindblad Expeditions Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lindblad Expeditions and TRAVELERS 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 TRAVELERS INS GROUP 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 TRAVELERS i.e., TRAVELERS and Lindblad Expeditions go up and down completely randomly.
Pair Corralation between TRAVELERS and Lindblad Expeditions
Assuming the 90 days trading horizon TRAVELERS INS GROUP is expected to under-perform the Lindblad Expeditions. But the bond apears to be less risky and, when comparing its historical volatility, TRAVELERS INS GROUP is 3.39 times less risky than Lindblad Expeditions. The bond trades about -0.01 of its potential returns per unit of risk. The Lindblad Expeditions Holdings is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 841.00 in Lindblad Expeditions Holdings on September 4, 2024 and sell it today you would earn a total of 543.00 from holding Lindblad Expeditions Holdings or generate 64.57% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 51.31% |
| Values | Daily Returns |
TRAVELERS INS GROUP vs. Lindblad Expeditions Holdings
Performance |
| Timeline |
| TRAVELERS INS GROUP |
| Lindblad Expeditions |
TRAVELERS and Lindblad Expeditions Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TRAVELERS and Lindblad Expeditions
The main advantage of trading using opposite TRAVELERS and Lindblad Expeditions positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TRAVELERS 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.| TRAVELERS vs. AEP TEX INC | TRAVELERS vs. US BANK NATIONAL | TRAVELERS vs. Jackson Financial | TRAVELERS vs. MetLife |
| Lindblad Expeditions vs. Mondee Holdings | Lindblad Expeditions vs. MakeMyTrip Limited | Lindblad Expeditions vs. TripAdvisor | Lindblad Expeditions vs. Thayer Ventures Acquisition |
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.
Other Complementary Tools
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA |