Hercules Capital Correlations

HTGC Stock

USD 18.53 0.17 0.91%

The current 90-days correlation between Hercules Capital and Main Street Capital is 0.68 (i.e., Poor diversification). The correlation of Hercules Capital 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.

Hercules Capital Correlation With Market

Poor diversification

The correlation between Hercules Capital and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hercules Capital and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hercules Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hercules Capital. 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.

For information on how to trade Hercules Stock refer to our How to Trade Hercules Stock guide.

Moving together with Hercules Stock

0.61	JLEN	JLEN Environmental Assets	Pair Corr
0.69	VELO	Velo3D Upward Rally	Pair Corr
0.72	FINS	Angel Oak Financial	Pair Corr
0.79	AMP	Ameriprise Financial Earnings Call Today	Pair Corr
0.86	AVR	Avaron Mining Corp	Pair Corr
0.89	NREF	Nexpoint Real Estate	Pair Corr
0.62	FGEN	Foresight Environmental	Pair Corr
0.74	OCCI	OFS Credit	Pair Corr
0.74	BRWM	Blackrock World Mining	Pair Corr
0.83	SAMG	Silvercrest Asset	Pair Corr
0.73	MMP-UN	Precious Metals And	Pair Corr
0.82	SLRC	SLR Investment Corp	Pair Corr
0.79	BANX	Arrowmark Financial Corp	Pair Corr

Moving against Hercules Stock

0.77	LTI	Lindsell Train Investment	Pair Corr
0.34	NOAH	Noah Holdings	Pair Corr
0.72	PNNT	PennantPark Investment	Pair Corr
0.66	PBCRY	Bank Central Asia	Pair Corr
0.57	BKRKY	Bank Rakyat	Pair Corr
0.47	BKRKF	PT Bank Rakyat	Pair Corr

Related Correlations Analysis

	MAIN	PFLT	FSK	PSEC	CGBD	TSLX	TCPC	TRIN	GBDC	TPVG
MAIN		0.92	-0.06	0.58	0.76	0.62	0.31	0.85	0.47	0.75	MAIN
PFLT	0.92		0.02	0.65	0.81	0.61	0.41	0.83	0.57	0.77	PFLT
FSK	-0.06	0.02		-0.29	0.11	-0.02	0.65	-0.44	0.29	0.25	FSK
PSEC	0.58	0.65	-0.29		0.37	0.28	0.18	0.75	0.29	0.32	PSEC
CGBD	0.76	0.81	0.11	0.37		0.89	0.53	0.69	0.75	0.66	CGBD
TSLX	0.62	0.61	-0.02	0.28	0.89		0.37	0.61	0.79	0.32	TSLX
TCPC	0.31	0.41	0.65	0.18	0.53	0.37		0.1	0.62	0.4	TCPC
TRIN	0.85	0.83	-0.44	0.75	0.69	0.61	0.1		0.37	0.53	TRIN
GBDC	0.47	0.57	0.29	0.29	0.75	0.79	0.62	0.37		0.24	GBDC
TPVG	0.75	0.77	0.25	0.32	0.66	0.32	0.4	0.53	0.24		TPVG
	MAIN	PFLT	FSK	PSEC	CGBD	TSLX	TCPC	TRIN	GBDC	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

PFLT	+ 0.92	MAIN
TSLX	+ 0.89	CGBD
TRIN	+ 0.85	MAIN
TRIN	+ 0.83	PFLT
CGBD	+ 0.81	PFLT
GBDC	+ 0.79	TSLX

High negative correlations

TRIN	- 0.44	FSK
PSEC	- 0.29	FSK
FSK	- 0.06	MAIN
TSLX	- 0.02	FSK

Risk-Adjusted Indicators

There is a big difference between Hercules Stock performing well and Hercules Capital 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 Hercules Capital'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
MAIN	1.02	0.15	0.11	0.30	0.93	(1.20)	2.60	(2.07)	5.67
PFLT	0.78	0.08	0.06	0.19	0.74	(0.84)	1.95	(1.50)	4.17
FSK	0.94	(0.09)	0.00	(0.11)	0.00	0.00	2.05	(2.21)	5.70
PSEC	1.50	0.13	0.06	0.21	1.63	(1.69)	4.67	(2.76)	11.08
CGBD	0.99	(0.01)	(0.02)	0.04	1.30	(0.98)	2.23	(2.09)	5.52
TSLX	0.95	(0.02)	(0.03)	0.04	1.10	(1.12)	2.13	(2.11)	5.76
TCPC	1.45	(0.11)	0.00	(0.31)	0.00	0.00	2.62	(2.35)	17.70
TRIN	0.96	0.22	0.14	0.47	1.08	(1.11)	2.45	(1.55)	6.36
GBDC	0.70	(0.07)	0.00	(0.06)	0.00	0.00	1.37	(1.31)	3.53
TPVG	1.34	0.15	0.06	0.41	1.52	(1.35)	2.51	(2.58)	8.89

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