New Mountain Correlations

NMFC Stock

USD 11.89 0.07 0.59%

The current 90-days correlation between New Mountain Finance and BlackRock TCP Capital is 0.6 (i.e., Poor diversification). The correlation of New Mountain 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.

New Mountain Correlation With Market

Modest diversification

The correlation between New Mountain Finance and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Mountain Finance 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 New Mountain Finance. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with New Stock

0.81	V	Visa Class A	Pair Corr
0.85	MA	Mastercard	Pair Corr
0.74	FDUS	Fidus Investment Corp	Pair Corr
0.76	COF	Capital One Financial	Pair Corr
0.67	DFS	Discover Financial	Pair Corr
0.69	IVZ	Invesco Plc	Pair Corr
0.77	GBDC	Golub Capital BDC	Pair Corr
0.86	NTRS	Northern Trust	Pair Corr
0.68	ALLY	Ally Financial	Pair Corr
0.88	TCPC	BlackRock TCP Capital Earnings Call Today	Pair Corr
0.66	TPVG	Triplepoint Venture Earnings Call This Week	Pair Corr
0.73	TSLX	Sixth Street Specialty	Pair Corr
0.64	C	Citigroup	Pair Corr
0.78	AC	Associated Capital	Pair Corr
0.85	BK	Bank of New York	Pair Corr
0.67	BN	Brookfield Corp	Pair Corr

Moving against New Stock

0.59	PYPL	PayPal Holdings	Pair Corr
0.54	AMG	Affiliated Managers	Pair Corr
0.64	LC	LendingClub Corp	Pair Corr
0.45	EG	Everest Group	Pair Corr

Related Correlations Analysis

	TCPC	CGBD	TSLX	WHF	FDUS	GBDC	TPVG
TCPC		0.31	0.77	0.74	0.78	0.79	0.74	TCPC
CGBD	0.31		0.66	0.04	0.64	0.55	0.03	CGBD
TSLX	0.77	0.66		0.63	0.96	0.92	0.46	TSLX
WHF	0.74	0.04	0.63		0.65	0.61	0.53	WHF
FDUS	0.78	0.64	0.96	0.65		0.94	0.5	FDUS
GBDC	0.79	0.55	0.92	0.61	0.94		0.53	GBDC
TPVG	0.74	0.03	0.46	0.53	0.5	0.53		TPVG
	TCPC	CGBD	TSLX	WHF	FDUS	GBDC	TPVG

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Risk-Adjusted Indicators

There is a big difference between New Stock performing well and New Mountain 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 New Mountain'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
TCPC	1.00	0.12	0.08	0.41	1.37	(1.02)	2.03	(1.45)	7.39
CGBD	0.73	0.13	0.11	1.17	1.00	(0.73)	1.26	(1.35)	5.90
TSLX	0.58	0.22	0.37	1.67	0.00	(0.77)	1.66	(0.94)	2.95
WHF	0.82	0.10	0.08	(0.59)	1.08	(0.89)	1.47	(1.90)	5.82
FDUS	0.60	0.19	0.26	0.55	0.44	(0.69)	1.38	(0.97)	3.18
GBDC	0.61	0.05	0.05	0.36	0.80	(0.64)	1.36	(1.74)	3.96
TPVG	1.28	0.06	0.03	0.11	2.00	(1.31)	2.54	(2.11)	11.46

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