New Mountain Correlations

NMFC Stock

USD 11.53 0.01 0.09%

The current 90-days correlation between New Mountain Finance and Invesco Municipal Trust is 0.09 (i.e., Significant 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

Modest diversification

The correlation between New Mountain Finance and DJI is 0.28 (i.e., Modest 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.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Mountain Finance. 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.

Moving together with New Stock

0.72	RM	Regional Management Corp	Pair Corr
0.73	WU	Western Union	Pair Corr

Moving against New Stock

0.75	CG	Carlyle Group	Pair Corr
0.75	LX	Lexinfintech Holdings	Pair Corr
0.74	AB	AllianceBernstein	Pair Corr
0.74	LC	LendingClub Corp	Pair Corr
0.72	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.68	AC	Associated Capital	Pair Corr
0.68	MA	Mastercard	Pair Corr
0.67	BX	Blackstone Group Normal Trading	Pair Corr
0.62	BN	Brookfield Corp	Pair Corr
0.6	DIST	Distoken Acquisition	Pair Corr
0.6	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.54	PX	P10 Inc	Pair Corr
0.53	V	Visa Class A	Pair Corr
0.44	MC	Moelis Potential Growth	Pair Corr
0.41	DB	Deutsche Bank AG	Pair Corr
0.8	QD	Qudian Inc	Pair Corr
0.73	SF	Stifel Financial Earnings Call This Week	Pair Corr
0.73	DYCQ	DT Cloud Acquisition	Pair Corr
0.71	VCTR	Victory Capital Holdings Normal Trading	Pair Corr
0.61	DUET	DUET Acquisition Corp	Pair Corr
0.58	TW	Tradeweb Markets Normal Trading	Pair Corr
0.47	WT	WisdomTree	Pair Corr
0.46	GCMGW	GCM Grosvenor	Pair Corr
0.4	VIRT	Virtu Financial Normal Trading	Pair Corr
0.79	ESHA	ESH Acquisition Corp	Pair Corr
0.69	EMCG	Embrace Change Acqui	Pair Corr
0.67	WAVS	Western Acquisition	Pair Corr
0.66	TETEU	Technology Telecommunicatio	Pair Corr

Related Correlations Analysis

	VKI	VKQ	VCV	VCTR	VGM	IQI	VMO	CXE	KTF	ETO
VKI		0.81	0.46	-0.02	0.72	0.75	0.82	0.64	0.54	0.19	VKI
VKQ	0.81		0.62	-0.25	0.88	0.71	0.82	0.7	0.46	0.05	VKQ
VCV	0.46	0.62		-0.78	0.79	0.65	0.75	0.62	0.0	-0.33	VCV
VCTR	-0.02	-0.25	-0.78		-0.45	-0.26	-0.33	-0.26	0.49	0.53	VCTR
VGM	0.72	0.88	0.79	-0.45		0.85	0.91	0.84	0.42	0.05	VGM
IQI	0.75	0.71	0.65	-0.26	0.85		0.93	0.91	0.53	0.34	IQI
VMO	0.82	0.82	0.75	-0.33	0.91	0.93		0.88	0.48	0.12	VMO
CXE	0.64	0.7	0.62	-0.26	0.84	0.91	0.88		0.51	0.36	CXE
KTF	0.54	0.46	0.0	0.49	0.42	0.53	0.48	0.51		0.46	KTF
ETO	0.19	0.05	-0.33	0.53	0.05	0.34	0.12	0.36	0.46		ETO
	VKI	VKQ	VCV	VCTR	VGM	IQI	VMO	CXE	KTF	ETO

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

VMO	+ 0.93	IQI
VMO	+ 0.91	VGM
CXE	+ 0.91	IQI
VGM	+ 0.88	VKQ
CXE	+ 0.88	VMO
IQI	+ 0.85	VGM

High negative correlations

VCTR	- 0.78	VCV
VGM	- 0.45	VCTR
VMO	- 0.33	VCTR
ETO	- 0.33	VCV
CXE	- 0.26	VCTR
IQI	- 0.26	VCTR

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
VKI	0.38	0.01	(0.18)	(1.68)	0.41	(0.44)	0.79	(0.66)	2.47
VKQ	0.36	0.00	(0.21)	0.28	0.44	(0.41)	0.80	(0.90)	2.19
VCV	0.52	(0.06)	0.00	(0.57)	0.00	0.00	0.95	(0.97)	3.87
VCTR	1.65	0.22	0.14	0.21	1.90	(1.79)	3.47	(3.17)	14.16
VGM	0.35	(0.01)	(0.20)	0.60	0.47	(0.38)	0.68	(0.78)	2.66
IQI	0.40	(0.02)	(0.18)	(0.04)	0.54	(0.38)	0.79	(0.70)	2.30
VMO	0.39	0.00	(0.17)	0.03	0.52	(0.39)	0.82	(1.01)	2.43
CXE	0.50	(0.02)	(0.15)	0.00	0.57	(0.63)	1.33	(1.04)	3.34
KTF	0.42	0.05	(0.09)	(1.40)	0.47	(0.52)	1.12	(0.61)	3.40
ETO	0.55	(0.06)	(0.10)	0.00	0.88	(0.48)	0.78	(1.49)	3.50

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC