Hercules Capital Correlations

HTGC Stock

USD 19.24 0.11 0.58%

The current 90-days correlation between Hercules Capital and Main Street Capital is 0.8 (i.e., Very poor diversification). The correlation of Hercules Capital 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.

Hercules Capital Correlation With Market

Very weak diversification

The correlation between Hercules Capital and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hercules Capital and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hercules Capital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

For information on how to trade Hercules Stock refer to our How to Trade Hercules Stock guide.

Moving together with Hercules Stock

0.63	MA	Mastercard	Pair Corr
0.62	ECPG	Encore Capital Group	Pair Corr
0.74	AXP	American Express	Pair Corr
0.78	CNF	CNFinance Holdings	Pair Corr
0.91	COF	Capital One Financial	Pair Corr
0.89	DFS	Discover Financial	Pair Corr
0.64	OPFI	OppFi Inc	Pair Corr
0.81	ALLY	Ally Financial	Pair Corr
0.69	BBDC	Barings BDC	Pair Corr
0.91	C	Citigroup	Pair Corr
0.63	BK	Bank of New York	Pair Corr
0.8	BN	Brookfield Corp	Pair Corr
0.67	CG	Carlyle Group	Pair Corr

Moving against Hercules Stock

0.56	RENEW	Cartesian Growth	Pair Corr
0.55	CB	Chubb	Pair Corr
0.54	HG	Hamilton Insurance Group,	Pair Corr
0.43	EG	Everest Group	Pair Corr
0.37	IX	Orix Corp Ads	Pair Corr

Related Correlations Analysis

	MAIN	PFLT	FSK	PSEC	CGBD	TSLX	TCPC	TRIN	GBDC	TPVG
MAIN		0.66	0.87	0.44	0.63	0.62	0.65	0.49	0.89	0.87	MAIN
PFLT	0.66		0.6	0.75	-0.01	0.89	0.13	0.84	0.71	0.67	PFLT
FSK	0.87	0.6		0.57	0.43	0.67	0.67	0.58	0.88	0.84	FSK
PSEC	0.44	0.75	0.57		-0.1	0.72	0.21	0.63	0.59	0.58	PSEC
CGBD	0.63	-0.01	0.43	-0.1		-0.1	0.69	-0.25	0.37	0.49	CGBD
TSLX	0.62	0.89	0.67	0.72	-0.1		0.09	0.93	0.73	0.65	TSLX
TCPC	0.65	0.13	0.67	0.21	0.69	0.09		-0.07	0.6	0.6	TCPC
TRIN	0.49	0.84	0.58	0.63	-0.25	0.93	-0.07		0.6	0.52	TRIN
GBDC	0.89	0.71	0.88	0.59	0.37	0.73	0.6	0.6		0.82	GBDC
TPVG	0.87	0.67	0.84	0.58	0.49	0.65	0.6	0.52	0.82		TPVG
	MAIN	PFLT	FSK	PSEC	CGBD	TSLX	TCPC	TRIN	GBDC	TPVG

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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

TRIN	+ 0.93	TSLX
GBDC	+ 0.89	MAIN
TSLX	+ 0.89	PFLT
GBDC	+ 0.88	FSK
FSK	+ 0.87	MAIN
TPVG	+ 0.87	MAIN

High negative correlations

TRIN	- 0.25	CGBD
TSLX	- 0.1	CGBD
CGBD	- 0.1	PSEC
TRIN	- 0.07	TCPC
CGBD	- 0.01	PFLT

Risk-Adjusted Indicators

There is a big difference between Hercules Stock performing well and Hercules Capital 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 Hercules Capital'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
MAIN	1.03	0.13	0.11	0.13	1.23	(1.04)	2.09	(1.96)	6.72
PFLT	0.66	0.10	0.15	0.15	0.81	(0.70)	1.45	(1.28)	4.56
FSK	0.94	0.04	0.05	(0.01)	1.27	(0.97)	1.96	(1.69)	7.29
PSEC	0.84	(0.03)	0.00	(0.14)	0.00	0.00	2.09	(1.64)	6.62
CGBD	0.91	0.00	0.00	(0.07)	0.00	0.00	1.86	(1.87)	5.90
TSLX	0.72	0.17	0.22	0.37	0.71	(0.84)	1.73	(1.39)	4.64
TCPC	1.22	(0.16)	0.00	(0.36)	0.00	0.00	2.28	(3.27)	13.22
TRIN	0.94	0.24	0.25	0.35	0.85	(1.04)	2.10	(1.70)	7.32
GBDC	0.69	0.07	0.11	0.09	0.89	(0.72)	1.45	(1.78)	3.99
TPVG	1.44	(0.02)	0.00	(0.09)	0.00	0.00	3.25	(2.50)	11.80

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