MidCap Financial Correlations

MFIC Stock

USD 13.25 0.20 1.49%

The current 90-days correlation between MidCap Financial Inv and New Mountain Finance is 0.73 (i.e., Poor diversification). The correlation of MidCap Financial 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.

MidCap Financial Correlation With Market

Very weak diversification

The correlation between MidCap Financial Investment and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MidCap Financial Investment and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MidCap Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MidCap Financial 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 gross domestic product.

Moving together with MidCap Stock

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

Moving against MidCap Stock

0.37	PSEC	Prospect Capital	Pair Corr
0.71	FG	FG Annuities Life	Pair Corr
0.55	EG	Everest Group	Pair Corr
0.31	LX	Lexinfintech Holdings	Pair Corr

Related Correlations Analysis

	OFS	NCZ	PTMN	NCV	NMFC	SOTK	BIPH	USGA	NPCT
OFS		0.56	0.47	0.6	0.47	-0.07	0.63	0.0	0.55	OFS
NCZ	0.56		0.79	1.0	0.94	-0.43	0.79	0.0	0.93	NCZ
PTMN	0.47	0.79		0.78	0.72	-0.32	0.78	0.0	0.73	PTMN
NCV	0.6	1.0	0.78		0.92	-0.45	0.81	0.0	0.94	NCV
NMFC	0.47	0.94	0.72	0.92		-0.3	0.66	0.0	0.81	NMFC
SOTK	-0.07	-0.43	-0.32	-0.45	-0.3		-0.27	0.0	-0.53	SOTK
BIPH	0.63	0.79	0.78	0.81	0.66	-0.27		0.0	0.81	BIPH
USGA	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	USGA
NPCT	0.55	0.93	0.73	0.94	0.81	-0.53	0.81	0.0		NPCT
	OFS	NCZ	PTMN	NCV	NMFC	SOTK	BIPH	USGA	NPCT

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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

NCV	+ 1.0	NCZ
NMFC	+ 0.94	NCZ
NPCT	+ 0.94	NCV
NPCT	+ 0.93	NCZ
NMFC	+ 0.92	NCV
BIPH	+ 0.81	NCV

High negative correlations

NPCT	- 0.53	SOTK
SOTK	- 0.45	NCV
SOTK	- 0.43	NCZ
SOTK	- 0.32	PTMN
SOTK	- 0.3	NMFC
BIPH	- 0.27	SOTK

Risk-Adjusted Indicators

There is a big difference between MidCap Stock performing well and MidCap Financial 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 MidCap Financial'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
OFS	1.23	0.09	(0.02)	0.76	1.29	(1.51)	2.92	(2.61)	6.79
NCZ	0.66	0.23	0.24	0.55	0.14	(0.83)	1.64	(1.02)	4.32
PTMN	0.98	0.18	0.06	2.67	0.80	(1.20)	2.26	(1.70)	8.53
NCV	0.59	0.21	0.21	0.56	0.24	(0.73)	1.55	(0.83)	2.90
NMFC	0.92	0.18	0.11	0.49	0.83	(1.09)	2.29	(1.82)	6.31
SOTK	1.66	(0.03)	(0.05)	0.05	2.06	(1.85)	3.90	(3.52)	9.57
BIPH	0.64	0.07	(0.03)	0.39	0.73	(0.75)	1.31	(1.26)	5.46
USGA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NPCT	0.61	0.19	0.14	0.90	0.29	(0.75)	1.31	(0.90)	4.18

MidCap Financial Corporate Management

Ryan Giudice	VP Officer	Profile
Patrick Ryan	Chief AIM	Profile
Kristin JD	Secretary Officer	Profile
Elizabeth Besen	Investor Manager	Profile
Kristin Hester	Secretary Officer	Profile
Gregory Hunt	CFO Treasurer	Profile
Daniel Vogel	Managing Director	Profile

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