PennantPark Investment Correlations

PNNT Stock

USD 6.98 0.04 0.58%

The current 90-days correlation between PennantPark Investment and Barloworld Ltd ADR is 0.11 (i.e., Average diversification). The correlation of PennantPark 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.

PennantPark Investment Correlation With Market

Very weak diversification

The correlation between PennantPark Investment and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PennantPark Investment 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 Investment. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy PennantPark Stock please use our How to Invest in PennantPark Investment guide.

Moving together with PennantPark Stock

0.65	V	Visa Class A	Pair Corr
0.65	DIST	Distoken Acquisition	Pair Corr
0.66	AB	AllianceBernstein	Pair Corr
0.66	AC	Associated Capital	Pair Corr
0.68	BN	Brookfield Corp	Pair Corr
0.72	BX	Blackstone Group Normal Trading	Pair Corr
0.72	CG	Carlyle Group	Pair Corr
0.7	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.65	LC	LendingClub Corp	Pair Corr
0.74	MA	Mastercard	Pair Corr
0.65	MC	Moelis	Pair Corr
0.74	MS	Morgan Stanley Sell-off Trend	Pair Corr
0.71	PX	P10 Inc	Pair Corr
0.62	QD	Qudian Inc	Pair Corr
0.74	SF	Stifel Financial Earnings Call This Week	Pair Corr
0.67	TW	Tradeweb Markets Normal Trading	Pair Corr
0.67	WT	WisdomTree	Pair Corr
0.74	VCTR	Victory Capital Holdings Sell-off Trend	Pair Corr
0.71	VIRT	Virtu Financial Normal Trading	Pair Corr
0.65	DYCQ	DT Cloud Acquisition	Pair Corr
0.68	VRTS	Virtus Investment	Pair Corr

Moving against PennantPark Stock

0.49	PT	Pintec Technology	Pair Corr
0.51	XP	Xp Inc	Pair Corr
0.5	WU	Western Union	Pair Corr
0.38	RM	Regional Management Corp	Pair Corr
0.6	BRKHU	BurTech Acquisition Corp	Pair Corr
0.53	BRACU	Broad Capital Acquisition	Pair Corr
0.42	BRKHW	BurTech Acquisition Corp	Pair Corr
0.38	EMCGR	Embrace Change Acqui	Pair Corr

Related Correlations Analysis

	PWUP	AUROW	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF	VIASP
PWUP		0.41	-0.26	0.0	-0.47	0.6	0.55	0.5	0.1	-0.33	PWUP
AUROW	0.41		-0.64	0.0	-0.47	0.77	0.07	0.6	-0.27	0.19	AUROW
444859BR2	-0.26	-0.64		0.0	0.35	-0.55	-0.1	-0.62	0.39	-0.35	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.47	-0.47	0.35	0.0		-0.49	-0.41	-0.41	-0.04	0.12	BRRAY
MSTSX	0.6	0.77	-0.55	0.0	-0.49		0.29	0.69	0.02	-0.11	MSTSX
ABHYX	0.55	0.07	-0.1	0.0	-0.41	0.29		0.59	-0.03	-0.21	ABHYX
LBHIX	0.5	0.6	-0.62	0.0	-0.41	0.69	0.59		-0.26	0.15	LBHIX
SCAXF	0.1	-0.27	0.39	0.0	-0.04	0.02	-0.03	-0.26		-0.78	SCAXF
VIASP	-0.33	0.19	-0.35	0.0	0.12	-0.11	-0.21	0.15	-0.78		VIASP
	PWUP	AUROW	444859BR2	AQUI	BRRAY	MSTSX	ABHYX	LBHIX	SCAXF	VIASP

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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

MSTSX	+ 0.77	AUROW
LBHIX	+ 0.69	MSTSX
MSTSX	+ 0.6	PWUP
LBHIX	+ 0.6	AUROW
LBHIX	+ 0.59	ABHYX
ABHYX	+ 0.55	PWUP

High negative correlations

VIASP	- 0.78	SCAXF
444859BR2	- 0.64	AUROW
LBHIX	- 0.62	444859BR2
MSTSX	- 0.55	444859BR2
MSTSX	- 0.49	BRRAY
BRRAY	- 0.47	AUROW

Risk-Adjusted Indicators

There is a big difference between PennantPark Stock performing well and PennantPark 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 PennantPark 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
PWUP	1.20	0.08	(0.01)	(0.47)	2.43	(2.40)	4.50	(4.59)	20.77
AUROW	9.35	2.11	0.30	0.40	7.73	(13.09)	26.47	(11.84)	99.11
444859BR2	1.31	(0.16)	0.00	(0.06)	0.00	0.00	5.93	(4.56)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.10)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.48	(0.04)	(0.13)	0.06	0.50	(0.59)	1.21	(1.02)	2.80
ABHYX	0.17	0.02	(0.25)	(0.03)	0.26	(0.23)	0.34	(0.33)	1.91
LBHIX	0.11	0.01	(0.41)	0.46	0.00	(0.29)	0.24	(0.24)	0.96
SCAXF	0.70	(0.37)	0.00	(25.57)	0.00	0.00	0.00	0.00	23.47
VIASP	0.72	0.00	(0.02)	0.00	1.05	(0.80)	2.28	(1.15)	7.18

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