Sixth Street Correlations

TSLX Stock

USD 20.77 0.21 1.02%

The current 90-days correlation between Sixth Street Specialty and New Mountain Finance is 0.48 (i.e., Very weak diversification). The correlation of Sixth Street 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.

Sixth Street Correlation With Market

Weak diversification

The correlation between Sixth Street Specialty and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sixth Street Specialty 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 Sixth Street Specialty. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving against Sixth Stock

0.49	IPXXU	Inflection Point Acq	Pair Corr
0.43	SF	Stifel Financial Earnings Call This Week	Pair Corr
0.39	GS	Goldman Sachs Group Fiscal Year End 21st of January 2025	Pair Corr
0.38	MS	Morgan Stanley Fiscal Year End 21st of January 2025	Pair Corr
0.38	AMP	Ameriprise Financial Fiscal Year End 22nd of January 2025	Pair Corr
0.38	EVR	Evercore Partners	Pair Corr
0.36	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.34	FRHC	Freedom Holding Corp	Pair Corr
0.32	MC	Moelis Potential Growth	Pair Corr
0.5	SVII	Spring Valley Acquisition	Pair Corr
0.49	RMCO	Royalty Management	Pair Corr
0.47	SEIC	SEI Investments	Pair Corr
0.47	C	Citigroup Aggressive Push	Pair Corr
0.42	STEP	Stepstone Group	Pair Corr
0.4	LRFC	Logan Ridge Finance	Pair Corr
0.4	APAM	Artisan Partners Asset Fiscal Year End 4th of February 2025	Pair Corr
0.47	LX	Lexinfintech Holdings	Pair Corr
0.4	LC	LendingClub Corp	Pair Corr
0.37	CG	Carlyle Group	Pair Corr
0.36	BN	Brookfield Corp	Pair Corr

Related Correlations Analysis

	NMFC	CGBD	TCPC	FDUS	GBDC	TPVG	HTGC	TRIN
NMFC		-0.08	0.31	-0.12	-0.55	0.11	-0.31	-0.22	NMFC
CGBD	-0.08		-0.64	-0.19	0.53	-0.61	0.83	0.15	CGBD
TCPC	0.31	-0.64		0.57	-0.15	0.82	-0.54	0.26	TCPC
FDUS	-0.12	-0.19	0.57		0.54	0.8	0.14	0.73	FDUS
GBDC	-0.55	0.53	-0.15	0.54		0.07	0.8	0.66	GBDC
TPVG	0.11	-0.61	0.82	0.8	0.07		-0.31	0.48	TPVG
HTGC	-0.31	0.83	-0.54	0.14	0.8	-0.31		0.41	HTGC
TRIN	-0.22	0.15	0.26	0.73	0.66	0.48	0.41		TRIN
	NMFC	CGBD	TCPC	FDUS	GBDC	TPVG	HTGC	TRIN

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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

HTGC	+ 0.83	CGBD
TPVG	+ 0.82	TCPC
TPVG	+ 0.8	FDUS
HTGC	+ 0.8	GBDC
TRIN	+ 0.73	FDUS
TRIN	+ 0.66	GBDC

High negative correlations

TCPC	- 0.64	CGBD
TPVG	- 0.61	CGBD
GBDC	- 0.55	NMFC
HTGC	- 0.54	TCPC
HTGC	- 0.31	TPVG
HTGC	- 0.31	NMFC

Risk-Adjusted Indicators

There is a big difference between Sixth Stock performing well and Sixth Street 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 Sixth Street'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	0.62	(0.09)	0.00	(0.18)	0.00	0.00	1.52	(1.11)	4.41
CGBD	0.83	0.02	(0.05)	0.18	1.04	(0.85)	1.50	(1.71)	4.68
TCPC	1.15	(0.05)	(0.02)	0.04	1.36	(1.25)	2.62	(2.05)	11.22
FDUS	0.53	0.06	0.01	0.28	0.47	(0.59)	1.20	(0.92)	3.12
GBDC	0.61	0.04	0.00	0.17	0.64	(0.70)	1.48	(1.26)	3.41
TPVG	1.17	0.08	0.04	0.18	1.26	(1.32)	3.33	(2.20)	11.85
HTGC	0.77	0.01	(0.02)	0.10	0.83	(0.87)	1.56	(1.36)	4.50
TRIN	0.75	0.02	(0.02)	0.12	0.96	(0.80)	1.98	(1.55)	5.89

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