FS Credit Correlations

FSCO Stock

7.07 0.01 0.14%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as FS Credit moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FS Credit Opportunities moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

FS Credit Correlation With Market

Modest diversification

The correlation between FS Credit Opportunities and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FS Credit Opportunities 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 FS Credit Opportunities. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with FSCO Stock

0.63	V	Visa Class A	Pair Corr
0.71	COOP	Mr Cooper Group	Pair Corr
0.69	BK	Bank of New York	Pair Corr

Moving against FSCO Stock

0.73	WD	Walker Dunlop	Pair Corr
0.68	ORGN	Origin Materials	Pair Corr
0.56	SYF	Synchrony Financial	Pair Corr
0.54	ECPG	Encore Capital Group	Pair Corr
0.33	AXP	American Express	Pair Corr
0.83	CODI	Compass Diversified	Pair Corr
0.82	BITF	Bitfarms Buyout Trend	Pair Corr
0.78	DHIL	Diamond Hill Investment	Pair Corr
0.71	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.66	AX	Axos Financial	Pair Corr
0.45	SOFI	SoFi Technologies Aggressive Push	Pair Corr
0.38	UPST	Upstart Holdings	Pair Corr
0.73	LC	LendingClub Corp	Pair Corr
0.69	CM	Canadian Imperial Bank	Pair Corr
0.58	BX	Blackstone Group	Pair Corr
0.48	BY	Byline Bancorp	Pair Corr
0.38	CG	Carlyle Group Normal Trading	Pair Corr
0.36	KB	KB Financial Group	Pair Corr

Related Correlations Analysis

	CXH	CBH	IHTA	EOT	FMN	BSIG	ICMB	MVF	PTMN	NXC
CXH		0.0	0.0	0.84	0.81	0.0	0.64	0.84	0.56	0.63	CXH
CBH	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CBH
IHTA	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	IHTA
EOT	0.84	0.0	0.0		0.89	0.0	0.61	0.81	0.59	0.61	EOT
FMN	0.81	0.0	0.0	0.89		0.0	0.5	0.8	0.75	0.64	FMN
BSIG	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	BSIG
ICMB	0.64	0.0	0.0	0.61	0.5	0.0		0.39	0.19	0.43	ICMB
MVF	0.84	0.0	0.0	0.81	0.8	0.0	0.39		0.59	0.71	MVF
PTMN	0.56	0.0	0.0	0.59	0.75	0.0	0.19	0.59		0.45	PTMN
NXC	0.63	0.0	0.0	0.61	0.64	0.0	0.43	0.71	0.45		NXC
	CXH	CBH	IHTA	EOT	FMN	BSIG	ICMB	MVF	PTMN	NXC

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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

FMN	+ 0.89	EOT
EOT	+ 0.84	CXH
MVF	+ 0.84	CXH
FMN	+ 0.81	CXH
MVF	+ 0.81	EOT
MVF	+ 0.8	FMN

High negative correlations

NXC	- 0.0	BSIG
PTMN	- 0.0	BSIG
MVF	- 0.0	BSIG
ICMB	- 0.0	BSIG
BSIG	- 0.0	FMN
BSIG	- 0.0	EOT

Risk-Adjusted Indicators

There is a big difference between FSCO Stock performing well and FS Credit 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 FS Credit'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
CXH	0.38	(0.01)	0.04	(0.10)	0.56	(0.37)	0.76	(1.00)	2.37
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IHTA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EOT	0.48	(0.02)	0.00	(0.13)	0.00	0.00	1.01	(1.28)	2.87
FMN	0.45	(0.03)	0.00	0.37	0.00	0.00	0.81	(0.99)	3.01
BSIG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ICMB	0.68	0.06	0.07	0.55	0.94	(0.82)	1.87	(2.14)	6.16
MVF	0.51	0.02	0.07	0.09	0.62	(0.56)	1.12	(0.99)	3.98
PTMN	0.81	(0.15)	0.00	0.46	0.00	0.00	1.16	(2.36)	7.96
NXC	0.36	0.02	0.11	0.07	0.41	(0.40)	0.78	(0.68)	1.98

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