LIND vs WTBA: Correlation
Measured on weekly returns over the past three years, Lindblad Expeditions Holdings Inc. (LIND) and West Bancorporation (WTBA) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LIND and WTBA?
Over the past 3 years, LIND and WTBA moved with a correlation of 0.63, which is strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.63 over 3. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 1305.5 %².
By 3-year correlation, WTBA places #5 of the 11 assets tracked against LIND. The last year tells two different stories: LIND led by 52.5 percentage points, +100.4% for LIND against +47.9% for WTBA. One caveat on sizing: LIND is 2.2 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.
LIND vs WTBA: side by side
| LIND (Lindblad Expeditions Holdings Inc.) | WTBA (West Bancorporation) | |
|---|---|---|
| 1-year return | +100.4% | +47.9% |
| 5-year return | +102.2% | +16.8% |
| Volatility (ann.) | 67.7% | 30.5% |
| Beta vs S&P 500 | 1.97 | 0.75 |
| Max drawdown (3Y) | -43.8% | -26.9% |
| Market cap | $2.0B | $0.5B |
| P/E (trailing) | – | 12.6 |
| Dividend yield | 0.00% | 3.53% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LIND | WTBA |
|---|---|---|
| 2022 | -50.6% | -14.4% |
| 2023 | +46.4% | -12.4% |
| 2024 | +5.2% | +7.7% |
| 2025 | +21.6% | +7.7% |
| 2026 | +108.5% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LIND and WTBA good diversifiers for each other?
Only partially. A correlation of 0.63 means LIND and WTBA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between LIND and WTBA?
The LIND/WTBA correlation stands at 0.63 on a 3-year window (1 year: 0.63, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is WTBA a good diversifier for LIND?
Only partially. A correlation of 0.63 means LIND and WTBA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lind-vs-wtba.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lind-vs-wtba/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LIND correlations · WTBA correlations
