Barings BDC Correlations

BBDC Stock

USD 9.58 0.12 1.24%

The current 90-days correlation between Barings BDC and Oaktree Specialty Lending is 0.69 (i.e., Poor diversification). The correlation of Barings BDC 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.

Barings BDC Correlation With Market

Very weak diversification

The correlation between Barings BDC and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barings BDC and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Barings Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Barings BDC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

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

Moving together with Barings Stock

0.91	GS	Goldman Sachs Group	Pair Corr
0.84	AXP	American Express	Pair Corr
0.87	COF	Capital One Financial Earnings Call Tomorrow	Pair Corr
0.94	SCM	Stellus Capital Inve	Pair Corr
0.82	GAIN	Gladstone Investment	Pair Corr
0.96	GLAD	Gladstone Capital	Pair Corr
0.94	HTGC	Hercules Capital	Pair Corr
0.97	MAIN	Main Street Capital	Pair Corr
0.69	OPFI	OppFi Inc	Pair Corr
0.94	PFLT	PennantPark Floating Rate	Pair Corr
0.76	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.89	ALLY	Ally Financial	Pair Corr
0.96	ARCC	Ares Capital Earnings Call This Week	Pair Corr
0.95	TPVG	Triplepoint Venture	Pair Corr
0.97	TSLX	Sixth Street Specialty	Pair Corr
0.92	CSWC	Capital Southwest	Pair Corr
0.93	C	Citigroup Aggressive Push	Pair Corr
0.84	L	Loews Corp Earnings Call This Week	Pair Corr
0.85	DHIL	Diamond Hill Investment	Pair Corr
0.75	AC	Associated Capital	Pair Corr
0.88	AX	Axos Financial Earnings Call This Week	Pair Corr
0.88	BK	Bank of New York	Pair Corr
0.88	BN	Brookfield Corp	Pair Corr
0.81	BX	Blackstone Group Normal Trading	Pair Corr
0.66	BY	Byline Bancorp Earnings Call This Week	Pair Corr
0.93	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.93	CM	Canadian Imperial Bank	Pair Corr
0.87	DB	Deutsche Bank AG Earnings Call This Week	Pair Corr
0.72	HG	Hamilton Insurance Group,	Pair Corr
0.93	IX	Orix Corp Ads	Pair Corr

Moving against Barings Stock

0.5	PSEC	Prospect Capital	Pair Corr
0.61	FG	FG Annuities Life	Pair Corr
0.6	EG	Everest Group	Pair Corr
0.54	LX	Lexinfintech Holdings	Pair Corr

Related Correlations Analysis

	OCSL	OBDC	RWAY	AGM	OMF	CCAP	TSLX	TPVG	CGBD
OCSL		0.69	0.54	0.1	0.43	-0.08	0.52	0.56	0.52	OCSL
OBDC	0.69		0.9	0.53	0.88	-0.31	0.92	0.91	0.15	OBDC
RWAY	0.54	0.9		0.62	0.95	-0.6	0.98	0.95	-0.02	RWAY
AGM	0.1	0.53	0.62		0.72	-0.41	0.65	0.66	-0.33	AGM
OMF	0.43	0.88	0.95	0.72		-0.49	0.96	0.92	-0.06	OMF
CCAP	-0.08	-0.31	-0.6	-0.41	-0.49		-0.57	-0.6	0.33	CCAP
TSLX	0.52	0.92	0.98	0.65	0.96	-0.57		0.98	-0.1	TSLX
TPVG	0.56	0.91	0.95	0.66	0.92	-0.6	0.98		-0.1	TPVG
CGBD	0.52	0.15	-0.02	-0.33	-0.06	0.33	-0.1	-0.1		CGBD
	OCSL	OBDC	RWAY	AGM	OMF	CCAP	TSLX	TPVG	CGBD

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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

TSLX	+ 0.98	RWAY
TPVG	+ 0.98	TSLX
TSLX	+ 0.96	OMF
OMF	+ 0.95	RWAY
TPVG	+ 0.95	RWAY
TSLX	+ 0.92	OBDC

High negative correlations

TPVG	- 0.6	CCAP
CCAP	- 0.6	RWAY
TSLX	- 0.57	CCAP
CCAP	- 0.49	OMF
CCAP	- 0.41	AGM
CGBD	- 0.33	AGM

Risk-Adjusted Indicators

There is a big difference between Barings Stock performing well and Barings BDC 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 Barings BDC'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
OCSL	1.14	0.02	(0.02)	0.18	1.98	(1.04)	2.38	(2.07)	10.52
OBDC	0.86	0.13	0.07	0.32	0.82	(0.93)	2.14	(1.54)	5.78
RWAY	1.17	0.36	0.22	1.16	0.84	(1.36)	2.45	(1.84)	8.57
AGM	1.45	(0.08)	(0.04)	0.05	2.15	(1.55)	2.72	(2.71)	14.41
OMF	1.36	0.26	0.22	0.31	1.11	(1.69)	4.49	(2.43)	8.88
CCAP	1.16	(0.03)	(0.06)	0.06	1.67	(1.10)	2.20	(2.85)	7.22
TSLX	0.78	0.29	0.19	0.70	0.63	(0.91)	1.74	(1.66)	4.63
TPVG	1.54	0.24	0.13	0.40	1.52	(1.74)	3.59	(2.70)	11.08
CGBD	1.02	(0.05)	(0.06)	0.05	1.49	(1.10)	2.09	(3.15)	6.80

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