Newtek Business Correlations

NEWT Stock

USD 11.83 0.35 3.05%

The current 90-days correlation between Newtek Business Services and National Bankshares is 0.52 (i.e., Very weak diversification). The correlation of Newtek Business 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.

Newtek Business Correlation With Market

Poor diversification

The correlation between Newtek Business Services and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Newtek Business Services and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Newtek Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Newtek Business Services. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Newtek Stock

0.79	GS	Goldman Sachs Group	Pair Corr
0.82	MC	Moelis Earnings Call Today	Pair Corr
0.83	SF	Stifel Financial Earnings Call Today	Pair Corr
0.68	WSBF	Waterstone Financial Earnings Call Today	Pair Corr
0.81	AMP	Ameriprise Financial Earnings Call This Week	Pair Corr
0.79	AXP	American Express	Pair Corr
0.8	COF	Capital One Financial Earnings Call Today	Pair Corr
0.8	EVR	Evercore Partners Earnings Call Today	Pair Corr
0.79	HLI	Houlihan Lokey Earnings Call This Week	Pair Corr
0.69	JXN	Jackson Financial	Pair Corr
0.82	LAZ	Lazard Earnings Call Tomorrow	Pair Corr
0.77	OPY	Oppenheimer Holdings Earnings Call This Week	Pair Corr
0.77	PJT	PJT Partners Earnings Call This Week	Pair Corr
0.88	PWP	Perella Weinberg Partners	Pair Corr
0.75	SCM	Stellus Capital Inve	Pair Corr
0.72	GLAD	Gladstone Capital	Pair Corr
0.73	HTGC	Hercules Capital	Pair Corr
0.64	LMFA	LM Funding America Trending	Pair Corr
0.7	MAIN	Main Street Capital	Pair Corr
0.67	PFLT	PennantPark Floating Rate	Pair Corr
0.82	PIPR	Piper Sandler Companies Earnings Call This Week	Pair Corr
0.67	PYPL	PayPal Holdings Earnings Call This Week	Pair Corr
0.81	ALLY	Ally Financial	Pair Corr

Moving against Newtek Stock

0.56	SRL	Scully Royalty	Pair Corr
0.56	MKTX	MarketAxess Holdings	Pair Corr
0.37	EZPW	EZCORP Inc	Pair Corr
0.48	AIHS	Senmiao Technology	Pair Corr
0.32	CB	Chubb Sell-off Trend	Pair Corr

Related Correlations Analysis

	NKSH	NFBK	NRIM	HTBK	TPVG	MRCC	CSWC	TCPC	FDUS
NKSH		0.57	0.84	0.97	0.79	-0.32	0.91	0.74	0.84	NKSH
NFBK	0.57		0.86	0.66	0.71	-0.79	0.55	0.79	0.67	NFBK
NRIM	0.84	0.86		0.9	0.89	-0.66	0.86	0.91	0.91	NRIM
HTBK	0.97	0.66	0.9		0.8	-0.39	0.92	0.78	0.86	HTBK
TPVG	0.79	0.71	0.89	0.8		-0.56	0.87	0.92	0.93	TPVG
MRCC	-0.32	-0.79	-0.66	-0.39	-0.56		-0.35	-0.74	-0.54	MRCC
CSWC	0.91	0.55	0.86	0.92	0.87	-0.35		0.77	0.93	CSWC
TCPC	0.74	0.79	0.91	0.78	0.92	-0.74	0.77		0.89	TCPC
FDUS	0.84	0.67	0.91	0.86	0.93	-0.54	0.93	0.89		FDUS
	NKSH	NFBK	NRIM	HTBK	TPVG	MRCC	CSWC	TCPC	FDUS

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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

HTBK	+ 0.97	NKSH
FDUS	+ 0.93	TPVG
FDUS	+ 0.93	CSWC
CSWC	+ 0.92	HTBK
TCPC	+ 0.92	TPVG
CSWC	+ 0.91	NKSH

High negative correlations

MRCC	- 0.79	NFBK
TCPC	- 0.74	MRCC
MRCC	- 0.66	NRIM
MRCC	- 0.56	TPVG
FDUS	- 0.54	MRCC
MRCC	- 0.39	HTBK

Risk-Adjusted Indicators

There is a big difference between Newtek Stock performing well and Newtek Business 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 Newtek Business' 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
NKSH	1.48	0.16	0.09	0.30	1.43	(1.72)	3.91	(2.86)	8.86
NFBK	1.47	0.08	0.08	0.19	1.44	(1.79)	4.12	(3.27)	12.65
NRIM	1.28	0.33	0.23	0.47	1.08	(1.54)	2.73	(1.70)	7.88
HTBK	1.14	0.17	0.15	0.32	0.92	(1.40)	2.80	(1.67)	5.99
TPVG	1.54	0.39	0.12	(1.54)	1.52	(1.74)	3.59	(2.70)	11.08
MRCC	1.20	(0.12)	0.00	0.91	0.00	0.00	2.08	(2.20)	6.93
CSWC	0.94	0.39	0.18	(1.16)	0.76	(1.09)	2.32	(1.42)	7.38
TCPC	1.15	0.19	0.08	0.61	1.10	(1.33)	2.55	(1.91)	10.54
FDUS	0.87	0.34	0.18	(2.03)	0.66	(1.02)	1.87	(1.30)	5.04

Newtek Business Corporate Management

Michael Schwartz	Chief Legal Officer and Corporate Secretary	Profile
Jayne CavuotoKrafchik	Director Relations	Profile
Halli RazonFeingold	Chief Resources	Profile
Nicolas Young	Chief Officer	Profile
Timothy Ihlefeld	Ex Officer	Profile

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