Main Street Correlations

MAIN Stock

USD 55.00 0.38 0.70%

The current 90-days correlation between Main Street Capital and Prospect Capital is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Main Street moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Main Street Capital moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Main Street Correlation With Market

Very weak diversification

The correlation between Main Street Capital and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Main Street Capital and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Main Street 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 gross domestic product.

Moving together with Main Stock

0.92	BN	Brookfield Corp	Pair Corr
0.93	BX	Blackstone Group Fiscal Year End 23rd of January 2025	Pair Corr
0.93	CG	Carlyle Group	Pair Corr
0.95	APO	Apollo Global Management	Pair Corr
0.92	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.89	BAM	Brookfield Asset Man	Pair Corr
0.85	BEN	Franklin Resources	Pair Corr
0.91	BLK	BlackRock Fiscal Year End 10th of January 2025	Pair Corr
0.94	KKR	KKR Co LP Normal Trading	Pair Corr
0.95	OWL	Blue Owl Capital	Pair Corr
0.92	ARCC	Ares Capital	Pair Corr
0.93	ARES	Ares Management LP	Pair Corr
0.9	TROW	T Rowe Price	Pair Corr
0.84	C	Citigroup Aggressive Push	Pair Corr
0.66	L	Loews Corp	Pair Corr
0.75	V	Visa Class A	Pair Corr
0.64	DHIL	Diamond Hill Investment	Pair Corr
0.77	AB	AllianceBernstein	Pair Corr
0.87	AC	Associated Capital	Pair Corr
0.69	AX	Axos Financial	Pair Corr
0.95	BK	Bank of New York Fiscal Year End 10th of January 2025	Pair Corr
0.65	BY	Byline Bancorp Fiscal Year End 23rd of January 2025	Pair Corr
0.84	CM	Canadian Imperial Bank Earnings Call This Week	Pair Corr
0.69	FG	FG Annuities Life	Pair Corr
0.79	GL	Globe Life	Pair Corr
0.84	GS	Goldman Sachs Group Sell-off Trend	Pair Corr
0.68	KB	KB Financial Group	Pair Corr
0.84	LC	LendingClub Corp	Pair Corr
0.79	LX	Lexinfintech Holdings Trending	Pair Corr
0.91	MA	Mastercard	Pair Corr

Moving against Main Stock

0.82	IX	Orix Corp Ads	Pair Corr
0.77	XP	Xp Inc Downward Rally	Pair Corr
0.66	WU	Western Union	Pair Corr
0.62	TD	Toronto Dominion Bank Earnings Call This Week	Pair Corr
0.56	RM	Regional Management Corp	Pair Corr
0.51	PT	Pintec Technology	Pair Corr
0.33	HG	Hamilton Insurance Group,	Pair Corr

Related Correlations Analysis

	GLAD	PFLT	HRZN	PSEC	HTGC	FSK	GAIN	SCM	ARCC	TPVG
GLAD		0.06	-0.84	-0.57	0.34	0.96	0.72	0.68	0.91	0.49	GLAD
PFLT	0.06		0.26	0.45	0.74	0.01	0.48	0.42	0.15	-0.41	PFLT
HRZN	-0.84	0.26		0.63	-0.16	-0.85	-0.58	-0.56	-0.77	-0.44	HRZN
PSEC	-0.57	0.45	0.63		0.2	-0.59	-0.13	-0.14	-0.45	-0.74	PSEC
HTGC	0.34	0.74	-0.16	0.2		0.31	0.77	0.65	0.5	-0.36	HTGC
FSK	0.96	0.01	-0.85	-0.59	0.31		0.65	0.69	0.89	0.56	FSK
GAIN	0.72	0.48	-0.58	-0.13	0.77	0.65		0.82	0.81	-0.11	GAIN
SCM	0.68	0.42	-0.56	-0.14	0.65	0.69	0.82		0.86	-0.1	SCM
ARCC	0.91	0.15	-0.77	-0.45	0.5	0.89	0.81	0.86		0.25	ARCC
TPVG	0.49	-0.41	-0.44	-0.74	-0.36	0.56	-0.11	-0.1	0.25		TPVG
	GLAD	PFLT	HRZN	PSEC	HTGC	FSK	GAIN	SCM	ARCC	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

FSK	+ 0.96	GLAD
ARCC	+ 0.91	GLAD
ARCC	+ 0.89	FSK
ARCC	+ 0.86	SCM
SCM	+ 0.82	GAIN
ARCC	+ 0.81	GAIN

High negative correlations

FSK	- 0.85	HRZN
HRZN	- 0.84	GLAD
ARCC	- 0.77	HRZN
TPVG	- 0.74	PSEC
FSK	- 0.59	PSEC
GAIN	- 0.58	HRZN

Risk-Adjusted Indicators

There is a big difference between Main Stock performing well and Main Street 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 Main Street'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
GLAD	0.71	0.30	0.24	66.21	0.24	(0.88)	1.92	(1.12)	4.12
PFLT	0.60	0.02	(0.08)	0.23	0.98	(0.56)	1.09	(1.13)	5.12
HRZN	0.74	(0.25)	0.00	(1.10)	0.00	0.00	0.88	(2.10)	5.65
PSEC	1.28	(0.03)	(0.04)	(0.04)	2.94	(1.18)	2.65	(2.01)	19.03
HTGC	0.81	(0.03)	(0.07)	0.08	0.88	(0.93)	1.56	(1.54)	5.01
FSK	0.61	0.11	0.08	0.32	0.51	(0.71)	1.41	(1.08)	3.48
GAIN	0.97	0.12	0.04	0.45	1.13	(1.03)	1.76	(1.94)	6.95
SCM	0.48	0.03	(0.10)	0.28	0.62	(0.55)	1.22	(1.29)	4.47
ARCC	0.52	0.10	(0.03)	2.75	0.46	(0.59)	1.10	(0.96)	3.08
TPVG	1.19	0.10	0.05	0.24	1.20	(1.39)	3.33	(2.20)	11.85

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