HBT vs LIND: Correlation
Measured on weekly returns over the past three years, HBT Financial, Inc. (HBT) and Lindblad Expeditions Holdings Inc. (LIND) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBT and LIND?
Over the past 3 years, HBT and LIND moved with a correlation of 0.64, which is strong. Little has changed lately, as the 1-year reading of 0.67 lands near the 3-year figure. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 1163.6 %².
By 3-year correlation, LIND places #7 of the 17 assets tracked against HBT. The last year tells two different stories: LIND led by 62.1 percentage points, +38.3% for HBT against +100.4% for LIND. One caveat on sizing: LIND is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
HBT vs LIND: side by side
| HBT (HBT Financial, Inc.) | LIND (Lindblad Expeditions Holdings Inc.) | |
|---|---|---|
| 1-year return | +38.3% | +100.4% |
| 5-year return | +160.4% | +102.2% |
| Volatility (ann.) | 26.7% | 67.7% |
| Beta vs S&P 500 | 0.80 | 1.97 |
| Max drawdown (3Y) | -18.7% | -43.8% |
| Market cap | $1.3B | $2.0B |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 2.47% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HBT | LIND |
|---|---|---|
| 2022 | +8.1% | -50.6% |
| 2023 | +11.7% | +46.4% |
| 2024 | +7.7% | +5.2% |
| 2025 | +22.2% | +21.6% |
| 2026 | +41.4% | +108.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBT and LIND good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HBT and LIND?
As of 2026-08-27, the correlation of weekly returns between HBT and LIND is 0.64 over 3 years, 0.67 over 1 year and 0.51 over 5 years.
Is LIND a good diversifier for HBT?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hbt-vs-lind.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: HBT correlations · LIND correlations
