FS Credit Correlations

FSCO Stock

7.39 0.14 1.93%

The current 90-days correlation between FS Credit Opportunities and Acadian Asset Management is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as FS Credit moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FS Credit Opportunities moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

FS Credit Correlation With Market

Weak diversification

The correlation between FS Credit Opportunities and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FS Credit Opportunities and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with FSCO Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in FS Credit Opportunities. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with FSCO Stock

0.64	V	Visa Class A Earnings Call This Week	Pair Corr
0.86	GS	Goldman Sachs Group	Pair Corr
0.9	AXP	American Express	Pair Corr
0.86	COF	Capital One Financial	Pair Corr
0.74	SCM	Stellus Capital Inve Earnings Call This Week	Pair Corr
0.78	GAIN	Gladstone Investment	Pair Corr
0.82	GLAD	Gladstone Capital	Pair Corr
0.72	HTGC	Hercules Capital Earnings Call This Week	Pair Corr
0.76	MAIN	Main Street Capital	Pair Corr
0.83	OPFI	OppFi Inc	Pair Corr
0.85	PFLT	PennantPark Floating Rate	Pair Corr
0.92	PYPL	PayPal Holdings Earnings Call This Week	Pair Corr
0.85	ALLY	Ally Financial Sell-off Trend	Pair Corr
0.84	ARCC	Ares Capital Earnings Call This Week	Pair Corr
0.87	TPVG	Triplepoint Venture Earnings Call This Week	Pair Corr
0.88	TSLX	Sixth Street Specialty Earnings Call This Week	Pair Corr
0.77	CSWC	Capital Southwest	Pair Corr
0.86	C	Citigroup Aggressive Push	Pair Corr
0.88	L	Loews Corp Earnings Call This Week	Pair Corr
0.82	DHIL	Diamond Hill Investment	Pair Corr
0.87	AB	AllianceBernstein Earnings Call Tomorrow	Pair Corr
0.84	AC	Associated Capital	Pair Corr
0.82	AX	Axos Financial Earnings Call This Week	Pair Corr
0.91	BK	Bank of New York	Pair Corr
0.88	BN	Brookfield Corp	Pair Corr
0.72	BX	Blackstone Group Normal Trading	Pair Corr
0.64	BY	Byline Bancorp Earnings Call Tomorrow	Pair Corr
0.83	CG	Carlyle Group Earnings Call Tomorrow	Pair Corr
0.91	CM	Canadian Imperial Bank	Pair Corr
0.92	DB	Deutsche Bank AG Earnings Call Tomorrow	Pair Corr
0.85	HG	Hamilton Insurance Group,	Pair Corr
0.84	IX	Orix Corp Ads	Pair Corr

Moving against FSCO Stock

0.47	PSEC	Prospect Capital	Pair Corr
0.62	FG	FG Annuities Life	Pair Corr
0.59	EG	Everest Group Earnings Call This Week	Pair Corr
0.34	LX	Lexinfintech Holdings Sell-off Trend	Pair Corr
0.32	PT	Pintec Technology	Pair Corr

Related Correlations Analysis

	MHN	CION	CXH	AAMI	FSK	NBXG	PAXS	WDI
MHN		0.04	0.77	-0.1	-0.15	-0.03	0.22	0.01	MHN
CION	0.04		-0.13	0.68	0.61	0.51	0.69	0.36	CION
CXH	0.77	-0.13		-0.09	-0.24	-0.01	0.11	0.0	CXH
AAMI	-0.1	0.68	-0.09		0.91	0.92	0.63	0.81	AAMI
FSK	-0.15	0.61	-0.24	0.91		0.92	0.47	0.9	FSK
NBXG	-0.03	0.51	-0.01	0.92	0.92		0.58	0.95	NBXG
PAXS	0.22	0.69	0.11	0.63	0.47	0.58		0.41	PAXS
WDI	0.01	0.36	0.0	0.81	0.9	0.95	0.41		WDI
	MHN	CION	CXH	AAMI	FSK	NBXG	PAXS	WDI

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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

WDI	+ 0.95	NBXG
NBXG	+ 0.92	AAMI
NBXG	+ 0.92	FSK
FSK	+ 0.91	AAMI
WDI	+ 0.9	FSK
WDI	+ 0.81	AAMI

High negative correlations

FSK	- 0.24	CXH
FSK	- 0.15	MHN
CXH	- 0.13	CION
AAMI	- 0.1	MHN
AAMI	- 0.09	CXH
NBXG	- 0.03	MHN

Risk-Adjusted Indicators

There is a big difference between FSCO Stock performing well and FS Credit 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 FS Credit'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
MHN	0.49	(0.09)	0.00	(0.07)	0.00	0.00	1.02	(1.03)	4.35
CION	0.99	0.09	0.02	0.29	1.25	(1.04)	2.48	(1.76)	7.66
CXH	0.32	(0.07)	0.00	(0.19)	0.00	0.00	0.53	(0.93)	1.86
AAMI	1.25	0.43	0.32	0.58	0.80	(1.57)	3.33	(1.89)	6.92
FSK	0.89	0.15	0.09	0.38	0.82	(0.95)	2.11	(1.60)	5.79
NBXG	0.83	0.28	0.28	0.51	0.25	(1.07)	2.60	(1.11)	5.51
PAXS	0.52	0.00	(0.15)	0.18	0.61	(0.53)	1.04	(1.00)	3.60
WDI	0.37	0.10	(0.05)	0.55	0.08	(0.45)	0.74	(0.81)	2.24

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