PennantPark Floating Correlations

PFLT Stock

USD 11.16 0.09 0.81%

The current 90-days correlation between PennantPark Floating Rate and Diamond Hill Investment is 0.09 (i.e., Significant diversification). The correlation of PennantPark Floating 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.

PennantPark Floating Correlation With Market

Average diversification

The correlation between PennantPark Floating Rate and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PennantPark Floating Rate and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PennantPark Floating Rate. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with PennantPark Stock

0.7

PWUPU

PowerUp Acquisition Corp

Pair Corr

Moving against PennantPark Stock

0.6	TETEU	Technology Telecommunicatio	Pair Corr
0.36	PFTAU	Portage Fintech Acqu	Pair Corr
0.34	V	Visa Class A	Pair Corr
0.64	WTMA	Welsbach Technology	Pair Corr
0.53	EMCG	Embrace Change Acqui	Pair Corr
0.38	ROCLW	Roth CH Acquisition	Pair Corr
0.51	ARI	Apollo Commercial Real	Pair Corr
0.33	KVACW	Keen Vision Acquisition	Pair Corr

Related Correlations Analysis

	V	DHIL	DIST	AC	BN	BX	CG	DB	DX
V		0.78	0.88	0.55	0.74	0.87	0.68	-0.15	0.48	V
DHIL	0.78		0.75	0.47	0.75	0.76	0.59	-0.02	0.54	DHIL
DIST	0.88	0.75		0.63	0.84	0.89	0.76	0.02	0.39	DIST
AC	0.55	0.47	0.63		0.83	0.78	0.92	0.54	0.23	AC
BN	0.74	0.75	0.84	0.83		0.92	0.93	0.36	0.44	BN
BX	0.87	0.76	0.89	0.78	0.92		0.9	0.15	0.52	BX
CG	0.68	0.59	0.76	0.92	0.93	0.9		0.46	0.3	CG
DB	-0.15	-0.02	0.02	0.54	0.36	0.15	0.46		-0.12	DB
DX	0.48	0.54	0.39	0.23	0.44	0.52	0.3	-0.12		DX
	V	DHIL	DIST	AC	BN	BX	CG	DB	DX

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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

CG	+ 0.93	BN
CG	+ 0.92	AC
BX	+ 0.92	BN
CG	+ 0.9	BX
BX	+ 0.89	DIST
DIST	+ 0.88	V

High negative correlations

DB	- 0.15	V
DX	- 0.12	DB
DB	- 0.02	DHIL

Risk-Adjusted Indicators

There is a big difference between PennantPark Stock performing well and PennantPark Floating 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 PennantPark Floating'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
V	0.83	0.14	0.09	0.31	1.05	(0.95)	2.23	(1.30)	7.73
DHIL	1.23	(0.12)	(0.05)	0.05	1.19	(1.58)	2.22	(2.05)	9.06
DIST	0.18	0.06	(0.12)	1.18	0.00	(0.37)	0.37	(0.18)	2.25
AC	1.19	0.13	0.05	0.29	1.65	(1.26)	3.02	(2.64)	12.11
BN	1.23	0.15	0.14	0.23	1.17	(1.42)	2.45	(1.92)	6.44
BX	1.31	0.30	0.25	0.34	0.94	(1.52)	3.21	(2.21)	9.25
CG	1.58	0.19	0.19	0.22	1.36	(1.87)	4.10	(2.22)	13.11
DB	1.37	(0.02)	(0.03)	0.10	1.73	(1.45)	3.08	(2.93)	8.64
DX	0.75	(0.01)	(0.08)	0.11	1.04	(0.72)	1.38	(1.47)	4.37

PennantPark Floating Corporate Management

Allorto CPA	CFO Treasurer	Profile
Richard Houten	Senior Houston	Profile
Matthew Visgilio	Manager Operations	Profile
Salvatore III	Partner	Profile

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