New Mountain Correlations
| NMFC Stock | USD 11.00 0.08 0.72% |
The current 90-days correlation between New Mountain Finance and BlackRock TCP Capital is 0.62 (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
Very weak diversification
The correlation between New Mountain Finance and DJI is 0.44 (i.e., Very weak 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.
New |
Moving together with New Stock
| 0.79 | V | Visa Class A | PairCorr |
| 0.86 | MA | Mastercard Sell-off Trend | PairCorr |
| 0.71 | WSBF | Waterstone Financial | PairCorr |
| 0.75 | COF | Capital One Financial | PairCorr |
| 0.68 | DFS | Discover Financial | PairCorr |
| 0.81 | SNFCA | Security National Earnings Call This Week | PairCorr |
| 0.69 | ALLY | Ally Financial Normal Trading | PairCorr |
| 0.62 | APAM | Artisan Partners Asset | PairCorr |
| 0.88 | BBDC | Barings BDC | PairCorr |
| 0.78 | COOP | Mr Cooper Group | PairCorr |
| 0.75 | C | Citigroup Aggressive Push | PairCorr |
| 0.84 | AC | Associated Capital | PairCorr |
| 0.8 | BK | Bank of New York | PairCorr |
Moving against New Stock
Related Correlations Analysis
| 0.69 | 0.09 | 0.38 | 0.56 | 0.6 | 0.6 | TCPC | ||
| 0.69 | -0.1 | 0.07 | 0.32 | 0.37 | 0.49 | CGBD | ||
| 0.09 | -0.1 | 0.76 | 0.8 | 0.73 | 0.65 | TSLX | ||
| 0.38 | 0.07 | 0.76 | 0.81 | 0.71 | 0.68 | WHF | ||
| 0.56 | 0.32 | 0.8 | 0.81 | 0.89 | 0.88 | FDUS | ||
| 0.6 | 0.37 | 0.73 | 0.71 | 0.89 | 0.82 | GBDC | ||
| 0.6 | 0.49 | 0.65 | 0.68 | 0.88 | 0.82 | 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
| High negative correlations
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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 | 1.22 | (0.16) | 0.00 | (0.36) | 0.00 | 2.28 | 13.22 | |||
| CGBD | 0.91 | 0.00 | 0.00 | (0.07) | 0.00 | 1.86 | 5.90 | |||
| TSLX | 0.72 | 0.17 | 0.22 | 0.37 | 0.71 | 1.73 | 4.64 | |||
| WHF | 1.10 | (0.01) | 0.00 | (0.10) | 0.00 | 1.92 | 7.44 | |||
| FDUS | 0.80 | 0.06 | 0.08 | 0.03 | 1.00 | 1.62 | 4.07 | |||
| GBDC | 0.69 | 0.07 | 0.11 | 0.09 | 0.89 | 1.45 | 3.99 | |||
| TPVG | 1.44 | (0.02) | 0.00 | (0.09) | 0.00 | 3.25 | 11.80 |