FS Credit Correlations

FSCO Stock

7.02 0.04 0.57%

The current 90-days correlation between FS Credit Opportunities and Brightsphere Investment Group is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as FS Credit moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FS Credit Opportunities moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

FS Credit Correlation With Market

Good diversification

The correlation between FS Credit Opportunities and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FS Credit Opportunities and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in FS Credit Opportunities. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with FSCO Stock

0.75	FDUS	Fidus Investment Corp	Pair Corr
0.63	AXP	American Express Earnings Call This Week	Pair Corr
0.82	GLAD	Gladstone Capital	Pair Corr
0.88	MAIN	Main Street Capital	Pair Corr
0.68	C	Citigroup Aggressive Push	Pair Corr
0.79	LX	Lexinfintech Holdings	Pair Corr

Moving against FSCO Stock

0.68	CB	Chubb Earnings Call This Week	Pair Corr
0.62	WHF	WhiteHorse Finance	Pair Corr
0.59	GAIN	Gladstone Investment	Pair Corr
0.57	DHIL	Diamond Hill Investment	Pair Corr
0.53	PSEC	Prospect Capital	Pair Corr
0.47	AC	Associated Capital	Pair Corr
0.38	CIFR	Cipher Mining	Pair Corr
0.38	EG	Everest Group	Pair Corr
0.35	FG	FG Annuities Life	Pair Corr
0.31	HRZN	Horizon Technology	Pair Corr
0.82	WD	Walker Dunlop Normal Trading	Pair Corr
0.8	XP	Xp Inc	Pair Corr
0.79	VABK	Virginia National Earnings Call This Week	Pair Corr
0.76	NU	Nu Holdings Sell-off Trend	Pair Corr
0.68	WF	Woori Financial Group	Pair Corr
0.6	KB	KB Financial Group	Pair Corr
0.58	RY	Royal Bank	Pair Corr
0.55	IX	Orix Corp Ads	Pair Corr
0.5	WT	WisdomTree	Pair Corr
0.4	LU	Lufax Holding	Pair Corr
0.37	WU	Western Union Sell-off Trend	Pair Corr
0.35	TD	Toronto Dominion Bank Sell-off Trend	Pair Corr

Related Correlations Analysis

	CXH	CBH	IHTA	EOT	FMN	BSIG	ICMB	MVF	PTMN	NXC
CXH		-0.25	-0.26	0.68	0.54	0.08	0.1	0.77	0.23	0.37	CXH
CBH	-0.25		0.93	-0.79	-0.69	0.64	0.53	-0.43	-0.93	-0.91	CBH
IHTA	-0.26	0.93		-0.73	-0.65	0.61	0.43	-0.49	-0.87	-0.87	IHTA
EOT	0.68	-0.79	-0.73		0.7	-0.42	-0.41	0.66	0.78	0.81	EOT
FMN	0.54	-0.69	-0.65	0.7		-0.49	0.0	0.76	0.59	0.8	FMN
BSIG	0.08	0.64	0.61	-0.42	-0.49		0.52	-0.23	-0.69	-0.64	BSIG
ICMB	0.1	0.53	0.43	-0.41	0.0	0.52		0.08	-0.64	-0.44	ICMB
MVF	0.77	-0.43	-0.49	0.66	0.76	-0.23	0.08		0.37	0.63	MVF
PTMN	0.23	-0.93	-0.87	0.78	0.59	-0.69	-0.64	0.37		0.85	PTMN
NXC	0.37	-0.91	-0.87	0.81	0.8	-0.64	-0.44	0.63	0.85		NXC
	CXH	CBH	IHTA	EOT	FMN	BSIG	ICMB	MVF	PTMN	NXC

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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

IHTA	+ 0.93	CBH
NXC	+ 0.85	PTMN
NXC	+ 0.81	EOT
NXC	+ 0.8	FMN
PTMN	+ 0.78	EOT
MVF	+ 0.77	CXH

High negative correlations

PTMN	- 0.93	CBH
NXC	- 0.91	CBH
NXC	- 0.87	IHTA
PTMN	- 0.87	IHTA
EOT	- 0.79	CBH
EOT	- 0.73	IHTA

Risk-Adjusted Indicators

There is a big difference between FSCO Stock performing well and FS Credit 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 FS Credit'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
CXH	0.45	(0.03)	0.00	(1.13)	0.00	0.00	0.76	(1.01)	3.18
CBH	0.13	0.04	0.05	33.66	0.00	(0.18)	0.22	(0.22)	0.78
IHTA	0.23	0.04	0.03	0.91	0.25	(0.31)	0.68	(0.27)	2.03
EOT	0.45	(0.06)	0.00	(3.12)	0.00	0.00	0.87	(1.03)	2.88
FMN	0.57	(0.14)	0.00	(0.52)	0.00	0.00	1.07	(1.50)	2.68
BSIG	1.40	0.06	0.02	0.32	1.80	(1.43)	2.98	(3.40)	11.14
ICMB	0.99	(0.01)	(0.03)	(0.05)	1.08	(1.42)	3.19	(1.95)	8.09
MVF	0.58	(0.05)	0.00	(0.18)	0.00	0.00	1.11	(1.24)	3.26
PTMN	0.65	(0.08)	0.00	(0.33)	0.00	0.00	1.10	(1.65)	4.83
NXC	0.47	(0.09)	0.00	(0.65)	0.00	0.00	0.82	(1.15)	3.97

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