Saratoga Investment Correlations

Stocks . USA . 
Stock . Saratoga Investment Corp
SAR Stock  USD 25.69  0.16  0.63%   
The current 90-days correlation between Saratoga Investment Corp and BlackRock TCP Capital is 0.32 (i.e., Weak diversification). The correlation of Saratoga Investment 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.

Saratoga Investment Correlation With Market

Weak diversification

The correlation between Saratoga Investment Corp and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Saratoga Investment Corp and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Saratoga Investment Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Saratoga Stock

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  0.63KB KB Financial GroupPairCorr
  0.83LC LendingClub CorpPairCorr

Moving against Saratoga Stock

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Related Correlations Analysis

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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   
FDUS
+ 0.83
GLAD
FDUS
+ 0.8
TCPC
PFLT
+ 0.76
CGBD
HTGC
+ 0.74
CGBD
HTGC
+ 0.71
PFLT
HRZN
+ 0.69
NMFC
  
High negative correlations   
GLAD
- 0.83
HRZN
FDUS
- 0.81
WHF
WHF
- 0.74
TCPC
FDUS
- 0.63
HRZN
GLAD
- 0.6
WHF
HTGC
- 0.5
TCPC

Risk-Adjusted Indicators

There is a big difference between Saratoga Stock performing well and Saratoga Investment 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 Saratoga Investment'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
NMFC  0.63 (0.05)(0.13)(0.01) 0.89 
(0.65)
 1.93 
(1.11)
 4.41 
TCPC  1.11 (0.02) 0.00  0.11  1.13 
(1.29)
 2.08 
(2.04)
 11.22 
CGBD  0.81  0.06 (0.04) 0.43  0.97 
(0.84)
 1.50 
(1.47)
 4.68 
TSLX  0.61  0.03 (0.08) 0.21  0.65 
(0.69)
 1.20 
(1.04)
 3.64 
WHF  0.82 (0.07) 0.00 (3.93) 0.00 
 0.00 
 1.44 
(1.54)
 7.36 
HRZN  0.75 (0.22) 0.00 (1.01) 0.00 
 0.00 
 0.88 
(2.10)
 5.65 
GLAD  0.72  0.28  0.29  0.73  0.00 
(0.92)
 1.92 
(0.87)
 4.12 
PFLT  0.60  0.02 (0.08) 0.25  1.00 
(0.56)
 1.09 
(1.13)
 5.12 
FDUS  0.54  0.08  0.00  0.38  0.43 
(0.60)
 1.20 
(0.92)
 3.15 
HTGC  0.80 (0.05)(0.09) 0.06  0.90 
(0.90)
 1.56 
(1.54)
 5.01 

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