FS KKR Correlations

FSK Stock

USD 22.37 0.11 0.49%

The current 90-days correlation between FS KKR Capital and Golub Capital BDC is 0.81 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as FS KKR moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FS KKR Capital moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

FS KKR Correlation With Market

Very weak diversification

The correlation between FS KKR Capital and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FS KKR Capital and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in FS KKR Capital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with FSK Stock

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

Moving against FSK Stock

0.36	PSEC	Prospect Capital	Pair Corr
0.68	FG	FG Annuities Life	Pair Corr
0.58	EG	Everest Group	Pair Corr
0.39	LX	Lexinfintech Holdings	Pair Corr

Related Correlations Analysis

	TCPC	TPVG	TSLX	GBDC	NMFC	CGBD	HTGC	TRIN	ARCC	MAIN
TCPC		0.95	0.93	0.93	0.96	-0.17	0.81	0.59	0.93	0.81	TCPC
TPVG	0.95		0.97	0.91	0.91	-0.1	0.89	0.59	0.95	0.91	TPVG
TSLX	0.93	0.97		0.9	0.91	-0.11	0.9	0.57	0.96	0.93	TSLX
GBDC	0.93	0.91	0.9		0.93	0.01	0.85	0.74	0.95	0.84	GBDC
NMFC	0.96	0.91	0.91	0.93		-0.14	0.81	0.61	0.94	0.8	NMFC
CGBD	-0.17	-0.1	-0.11	0.01	-0.14		0.25	0.53	0.02	0.11	CGBD
HTGC	0.81	0.89	0.9	0.85	0.81	0.25		0.77	0.94	0.96	HTGC
TRIN	0.59	0.59	0.57	0.74	0.61	0.53	0.77		0.71	0.65	TRIN
ARCC	0.93	0.95	0.96	0.95	0.94	0.02	0.94	0.71		0.94	ARCC
MAIN	0.81	0.91	0.93	0.84	0.8	0.11	0.96	0.65	0.94		MAIN
	TCPC	TPVG	TSLX	GBDC	NMFC	CGBD	HTGC	TRIN	ARCC	MAIN

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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

TSLX	+ 0.97	TPVG
NMFC	+ 0.96	TCPC
ARCC	+ 0.96	TSLX
MAIN	+ 0.96	HTGC
TPVG	+ 0.95	TCPC
ARCC	+ 0.95	TPVG

High negative correlations

CGBD	- 0.17	TCPC
CGBD	- 0.14	NMFC
CGBD	- 0.11	TSLX
CGBD	- 0.1	TPVG

Risk-Adjusted Indicators

There is a big difference between FSK Stock performing well and FS KKR 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 FS KKR'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
TPVG	1.54	0.24	0.13	0.40	1.52	(1.74)	3.59	(2.70)	11.08
TSLX	0.76	0.42	0.22	(1.88)	0.55	(0.91)	1.74	(1.66)	4.63
GBDC	0.82	0.16	0.07	0.51	0.89	(0.89)	1.95	(1.79)	5.07
NMFC	0.92	0.18	0.11	0.49	0.83	(1.09)	2.29	(1.82)	6.31
CGBD	1.02	(0.05)	(0.06)	0.05	1.49	(1.10)	2.09	(3.15)	6.80
HTGC	0.88	0.15	0.08	0.40	0.78	(1.04)	1.84	(1.35)	5.60
TRIN	0.98	0.05	0.01	0.20	0.90	(1.30)	2.04	(1.91)	5.45
ARCC	0.71	0.17	0.10	0.39	0.74	(0.79)	1.80	(1.53)	5.26
MAIN	0.94	0.22	0.17	0.44	0.78	(1.11)	2.00	(1.73)	4.83

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