Saratoga Investment Correlations

SAR Stock

USD 24.26 0.19 0.79%

The current 90-days correlation between Saratoga Investment Corp and BlackRock TCP Capital is 0.3 (i.e., Weak diversification). The correlation of Saratoga Investment 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.

Saratoga Investment Correlation With Market

Weak diversification

The correlation between Saratoga Investment Corp and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Saratoga Investment Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Saratoga Investment Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Saratoga Stock

0.84	V	Visa Class A	Pair Corr
0.86	MA	Mastercard	Pair Corr
0.88	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.68	TW	Tradeweb Markets	Pair Corr
0.88	ENVA	Enova International	Pair Corr
0.84	FDUS	Fidus Investment Corp	Pair Corr
0.83	AGM	Federal Agricultural	Pair Corr
0.88	AMP	Ameriprise Financial Fiscal Year End 22nd of January 2025	Pair Corr
0.85	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.86	COF	Capital One Financial Fiscal Year End 23rd of January 2025	Pair Corr
0.88	DFS	Discover Financial Fiscal Year End 15th of January 2025	Pair Corr
0.82	FRHC	Freedom Holding Corp	Pair Corr
0.77	NMR	Nomura Holdings ADR	Pair Corr
0.84	SLM	SLM Corp Fiscal Year End 22nd of January 2025	Pair Corr
0.88	SYF	Synchrony Financial Fiscal Year End 28th of January 2025	Pair Corr
0.67	IREN	Iris Energy Aggressive Push	Pair Corr
0.63	LRFC	Logan Ridge Finance	Pair Corr
0.75	MFIN	Medallion Financial Corp Normal Trading	Pair Corr
0.68	OPRT	Oportun Financial Corp Downward Rally	Pair Corr
0.8	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.75	RWAY	Runway Growth Finance Normal Trading	Pair Corr
0.75	ALLY	Ally Financial Fiscal Year End 17th of January 2025	Pair Corr
0.84	APAM	Artisan Partners Asset Fiscal Year End 4th of February 2025	Pair Corr

Moving against Saratoga Stock

0.62	WU	Western Union	Pair Corr
0.59	FCFS	FirstCash	Pair Corr
0.41	PT	Pintec Technology	Pair Corr
0.76	ORGN	Origin Materials	Pair Corr
0.61	GROW	US Global Investors	Pair Corr
0.57	MCVT	Mill City Ventures	Pair Corr
0.35	PFLT	PennantPark Floating Rate	Pair Corr

Related Correlations Analysis

	NMFC	TCPC	CGBD	TSLX	WHF	HRZN	GLAD	PFLT	FDUS	HTGC
NMFC		0.29	0.27	0.51	-0.2	0.54	-0.04	0.26	0.19	-0.04	NMFC
TCPC	0.29		0.0	0.71	-0.81	-0.5	0.77	-0.49	0.92	-0.33	TCPC
CGBD	0.27	0.0		0.54	0.2	0.14	0.27	0.52	0.15	0.63	CGBD
TSLX	0.51	0.71	0.54		-0.46	-0.14	0.59	-0.12	0.7	-0.04	TSLX
WHF	-0.2	-0.81	0.2	-0.46		0.6	-0.76	0.56	-0.84	0.4	WHF
HRZN	0.54	-0.5	0.14	-0.14	0.6		-0.8	0.66	-0.67	0.13	HRZN
GLAD	-0.04	0.77	0.27	0.59	-0.76	-0.8		-0.41	0.92	0.0	GLAD
PFLT	0.26	-0.49	0.52	-0.12	0.56	0.66	-0.41		-0.5	0.62	PFLT
FDUS	0.19	0.92	0.15	0.7	-0.84	-0.67	0.92	-0.5		-0.17	FDUS
HTGC	-0.04	-0.33	0.63	-0.04	0.4	0.13	0.0	0.62	-0.17		HTGC
	NMFC	TCPC	CGBD	TSLX	WHF	HRZN	GLAD	PFLT	FDUS	HTGC

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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

FDUS	+ 0.92	TCPC
FDUS	+ 0.92	GLAD
GLAD	+ 0.77	TCPC
TSLX	+ 0.71	TCPC
FDUS	+ 0.7	TSLX
PFLT	+ 0.66	HRZN

High negative correlations

FDUS	- 0.84	WHF
WHF	- 0.81	TCPC
GLAD	- 0.8	HRZN
GLAD	- 0.76	WHF
FDUS	- 0.67	HRZN
FDUS	- 0.5	PFLT

Risk-Adjusted Indicators

There is a big difference between Saratoga Stock performing well and Saratoga Investment 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 Saratoga Investment'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
NMFC	0.65	(0.04)	(0.11)	0.01	0.92	(0.65)	1.93	(1.11)	4.41
TCPC	1.16	(0.02)	0.00	0.10	1.13	(1.41)	2.08	(2.04)	11.22
CGBD	0.79	0.11	0.01	0.90	0.90	(0.81)	1.50	(1.47)	4.68
TSLX	0.60	0.01	(0.08)	0.15	0.65	(0.70)	1.20	(1.04)	3.64
WHF	0.86	(0.10)	0.00	(0.92)	0.00	0.00	1.65	(1.54)	7.36
HRZN	0.76	(0.23)	0.00	(0.95)	0.00	0.00	0.88	(2.10)	5.65
GLAD	0.77	0.28	0.25	0.72	0.37	(0.96)	1.91	(1.45)	4.18
PFLT	0.60	(0.04)	0.00	(0.07)	0.00	0.00	0.91	(1.17)	4.97
FDUS	0.54	0.10	0.04	0.38	0.45	(0.60)	1.20	(0.99)	3.66
HTGC	0.80	0.04	(0.01)	0.18	0.76	(0.94)	1.71	(1.36)	5.01

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