Fidus Investment Correlations

FDUS Stock

USD 20.52 0.05 0.24%

The current 90-days correlation between Fidus Investment Corp and BlackRock TCP Capital is -0.01 (i.e., Good diversification). The correlation of Fidus Investment is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Fidus Investment Correlation With Market

Significant diversification

The correlation between Fidus Investment Corp and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fidus Investment Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidus Investment Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Fidus Stock

0.87	V	Visa Class A	Pair Corr
0.85	MA	Mastercard	Pair Corr
0.65	CNF	CNFinance Holdings	Pair Corr
0.73	COF	Capital One Financial	Pair Corr
0.69	DFS	Discover Financial	Pair Corr
0.68	GDST	Goldenstone Acquisition	Pair Corr
0.66	OPFI	OppFi Inc Buyout Trend	Pair Corr
0.71	SNFCA	Security National Earnings Call This Week	Pair Corr
0.94	BBDC	Barings BDC	Pair Corr
0.85	COOP	Mr Cooper Group	Pair Corr
0.83	C	Citigroup Aggressive Push	Pair Corr
0.73	AC	Associated Capital	Pair Corr
0.89	BK	Bank of New York	Pair Corr

Moving against Fidus Stock

0.5	WD	Walker Dunlop	Pair Corr
0.39	ORGN	Origin Materials	Pair Corr
0.48	DHIL	Diamond Hill Investment	Pair Corr
0.44	BITF	Bitfarms Buyout Trend	Pair Corr
0.39	CODI	Compass Diversified	Pair Corr
0.36	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.57	EG	Everest Group	Pair Corr
0.43	IX	Orix Corp Ads	Pair Corr
0.39	LC	LendingClub Corp	Pair Corr

Related Correlations Analysis

	GBDC	TCPC	CGBD	TSLX	NMFC	TPVG	OFS	SCM	MRCC
GBDC		0.62	0.25	0.64	0.8	0.76	-0.11	0.83	0.5	GBDC
TCPC	0.62		0.7	0.03	0.63	0.7	-0.67	0.47	0.77	TCPC
CGBD	0.25	0.7		-0.34	0.21	0.47	-0.8	0.04	0.58	CGBD
TSLX	0.64	0.03	-0.34		0.6	0.49	0.51	0.83	0.15	TSLX
NMFC	0.8	0.63	0.21	0.6		0.75	-0.15	0.85	0.72	NMFC
TPVG	0.76	0.7	0.47	0.49	0.75		-0.38	0.81	0.84	TPVG
OFS	-0.11	-0.67	-0.8	0.51	-0.15	-0.38		0.06	-0.6	OFS
SCM	0.83	0.47	0.04	0.83	0.85	0.81	0.06		0.64	SCM
MRCC	0.5	0.77	0.58	0.15	0.72	0.84	-0.6	0.64		MRCC
	GBDC	TCPC	CGBD	TSLX	NMFC	TPVG	OFS	SCM	MRCC

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SCM	+ 0.85	NMFC
MRCC	+ 0.84	TPVG
SCM	+ 0.83	GBDC
SCM	+ 0.83	TSLX
SCM	+ 0.81	TPVG
NMFC	+ 0.8	GBDC

High negative correlations

OFS	- 0.8	CGBD
OFS	- 0.67	TCPC
MRCC	- 0.6	OFS
OFS	- 0.38	TPVG
TSLX	- 0.34	CGBD
OFS	- 0.15	NMFC

Risk-Adjusted Indicators

There is a big difference between Fidus Stock performing well and Fidus Investment Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Fidus Investment's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GBDC	0.65	0.02	0.06	0.37	0.88	(0.64)	1.43	(1.66)	3.72
TCPC	1.16	(0.10)	0.00	(0.65)	0.00	0.00	2.28	(2.57)	13.22
CGBD	0.93	(0.09)	0.00	(0.27)	0.00	0.00	1.71	(1.86)	5.89
TSLX	0.67	0.13	0.18	1.40	0.67	(0.82)	1.68	(1.14)	4.64
NMFC	0.72	0.00	0.00	(0.03)	0.00	0.00	1.30	(1.82)	3.51
TPVG	1.21	0.02	0.04	(0.64)	1.58	(1.31)	2.19	(2.23)	8.83
OFS	1.08	0.22	0.20	(3.26)	1.05	(1.35)	3.68	(1.35)	10.09
SCM	0.79	0.13	0.07	0.26	1.81	(0.76)	1.51	(1.03)	10.22
MRCC	0.88	(0.04)	0.00	(0.13)	0.00	0.00	1.46	(2.51)	7.09

Fidus Investment Corporate Management

Amanda Armstrong	Accounting Manager	Profile
Matthew Shehorn	Managing Director	Profile
Craig Petrusha	Managing Director	Profile
Andrew Worth	Managing Director	Profile
Thomas Steiglehner	Managing Director	Profile
Michael Miller	MD Development	Profile

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