PennantPark Floating Correlations

PFLT Stock

USD 11.38 0.02 0.18%

The current 90-days correlation between PennantPark Floating Rate and Gladstone Investment is 0.43 (i.e., Very weak diversification). The correlation of PennantPark Floating 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. If the correlation is 0, the equities are not correlated; they are entirely random.

PennantPark Floating Correlation With Market

Very weak diversification

The correlation between PennantPark Floating Rate and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PennantPark Floating Rate and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PennantPark Floating Rate. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with PennantPark Stock

0.73	V	Visa Class A	Pair Corr
0.62	PT	Pintec Technology	Pair Corr
0.61	SNFCA	Security National Earnings Call Tomorrow	Pair Corr
0.75	BBDC	Barings BDC	Pair Corr
0.82	COOP	Mr Cooper Group	Pair Corr
0.77	BK	Bank of New York	Pair Corr

Moving against PennantPark Stock

0.62	WD	Walker Dunlop	Pair Corr
0.58	ORGN	Origin Materials	Pair Corr
0.36	SYF	Synchrony Financial	Pair Corr
0.71	CODI	Compass Diversified	Pair Corr
0.7	BITF	Bitfarms Aggressive Push	Pair Corr
0.57	DHIL	Diamond Hill Investment	Pair Corr
0.55	PYPL	PayPal Holdings Sell-off Trend	Pair Corr
0.44	AX	Axos Financial	Pair Corr
0.59	LC	LendingClub Corp	Pair Corr
0.48	CM	Canadian Imperial Bank	Pair Corr
0.37	BX	Blackstone Group	Pair Corr

Related Correlations Analysis

	GAIN	HRZN	SCM	PSEC	GLAD	MAIN	WHF	FDUS
GAIN		0.81	0.83	0.68	0.23	0.61	0.73	0.74	GAIN
HRZN	0.81		0.93	0.7	0.33	0.7	0.74	0.82	HRZN
SCM	0.83	0.93		0.73	0.49	0.81	0.84	0.92	SCM
PSEC	0.68	0.7	0.73		0.27	0.51	0.64	0.68	PSEC
GLAD	0.23	0.33	0.49	0.27		0.82	0.31	0.58	GLAD
MAIN	0.61	0.7	0.81	0.51	0.82		0.61	0.86	MAIN
WHF	0.73	0.74	0.84	0.64	0.31	0.61		0.84	WHF
FDUS	0.74	0.82	0.92	0.68	0.58	0.86	0.84		FDUS
	GAIN	HRZN	SCM	PSEC	GLAD	MAIN	WHF	FDUS

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Risk-Adjusted Indicators

There is a big difference between PennantPark Stock performing well and PennantPark Floating 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 PennantPark Floating'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
GAIN	0.96	0.09	0.08	0.14	0.98	(1.12)	2.21	(1.64)	6.57
HRZN	0.97	0.14	0.06	0.78	1.98	(1.04)	1.76	(1.20)	12.22
SCM	0.80	0.17	0.08	0.83	1.76	(0.79)	1.51	(1.03)	10.22
PSEC	0.81	0.00	(0.01)	(0.01)	0.86	(1.17)	2.09	(1.59)	6.62
GLAD	1.03	0.03	0.02	0.04	1.38	(0.96)	2.28	(1.90)	5.90
MAIN	1.05	0.12	0.09	0.15	1.20	(1.07)	2.09	(1.96)	6.72
WHF	1.10	(0.05)	0.00	(0.12)	0.00	0.00	1.92	(2.50)	7.44
FDUS	0.78	0.07	0.07	0.12	0.89	(0.80)	1.62	(1.67)	4.07

PennantPark Floating Corporate Management

Allorto CPA	CFO Treasurer	Profile
Richard Houten	Senior Houston	Profile
Matthew Visgilio	Manager Operations	Profile
Salvatore III	Partner	Profile

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