New Mountain Correlations

NMFC Stock

USD 10.70 0.12 1.11%

The current 90-days correlation between New Mountain Finance and BlackRock TCP Capital is 0.66 (i.e., Poor diversification). The correlation of New Mountain 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.

New Mountain Correlation With Market

Weak diversification

The correlation between New Mountain Finance and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding New Mountain Finance and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with New Stock

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

Moving together with New Stock

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

Moving against New Stock

0.36	PSEC	Prospect Capital	Pair Corr
0.73	FG	FG Annuities Life	Pair Corr
0.55	EG	Everest Group	Pair Corr

Related Correlations Analysis

	TCPC	CGBD	TSLX	WHF	FDUS	GBDC	TPVG
TCPC		-0.17	0.93	-0.56	0.92	0.93	0.95	TCPC
CGBD	-0.17		-0.11	0.65	0.03	0.01	-0.1	CGBD
TSLX	0.93	-0.11		-0.48	0.95	0.9	0.97	TSLX
WHF	-0.56	0.65	-0.48		-0.4	-0.47	-0.47	WHF
FDUS	0.92	0.03	0.95	-0.4		0.95	0.93	FDUS
GBDC	0.93	0.01	0.9	-0.47	0.95		0.91	GBDC
TPVG	0.95	-0.1	0.97	-0.47	0.93	0.91		TPVG
	TCPC	CGBD	TSLX	WHF	FDUS	GBDC	TPVG

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

TPVG	+ 0.97	TSLX
TPVG	+ 0.95	TCPC
FDUS	+ 0.95	TSLX
GBDC	+ 0.95	FDUS
TSLX	+ 0.93	TCPC
GBDC	+ 0.93	TCPC

High negative correlations

WHF	- 0.56	TCPC
WHF	- 0.48	TSLX
TPVG	- 0.47	WHF
GBDC	- 0.47	WHF
FDUS	- 0.4	WHF
CGBD	- 0.17	TCPC

Risk-Adjusted Indicators

There is a big difference between New Stock performing well and New Mountain 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 New Mountain'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
TCPC	1.15	0.24	0.12	0.76	1.02	(1.35)	2.55	(1.91)	10.54
CGBD	1.02	(0.05)	(0.06)	0.05	1.49	(1.10)	2.09	(3.15)	6.80
TSLX	0.76	0.42	0.22	(1.88)	0.55	(0.91)	1.74	(1.66)	4.63
WHF	0.95	(0.02)	(0.09)	0.01	1.36	(0.93)	2.14	(2.24)	6.24
FDUS	0.87	0.26	0.18	0.75	0.66	(1.02)	1.87	(1.30)	5.04
GBDC	0.82	0.16	0.07	0.51	0.89	(0.89)	1.95	(1.79)	5.07
TPVG	1.54	0.24	0.13	0.40	1.52	(1.74)	3.59	(2.70)	11.08

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC