Hercules Capital Correlations

HTGC Stock

USD 19.33 0.10 0.51%

The current 90-days correlation between Hercules Capital and Main Street Capital is 0.67 (i.e., Poor diversification). The correlation of Hercules Capital 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.

Hercules Capital Correlation With Market

Very weak diversification

The correlation between Hercules Capital and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hercules Capital and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hercules Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hercules 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 price.

For information on how to trade Hercules Stock refer to our How to Trade Hercules Stock guide.

Moving together with Hercules Stock

0.9	GS	Goldman Sachs Group	Pair Corr
0.82	AXP	American Express	Pair Corr
0.89	COF	Capital One Financial Earnings Call This Week	Pair Corr
0.96	SCM	Stellus Capital Inve	Pair Corr
0.66	GAIN	Gladstone Investment	Pair Corr
0.94	GLAD	Gladstone Capital	Pair Corr
0.96	MAIN	Main Street Capital	Pair Corr
0.94	PFLT	PennantPark Floating Rate	Pair Corr
0.71	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.9	ALLY	Ally Financial	Pair Corr
0.94	ARCC	Ares Capital	Pair Corr
0.89	TPVG	Triplepoint Venture	Pair Corr
0.9	TSLX	Sixth Street Specialty	Pair Corr
0.95	CSWC	Capital Southwest	Pair Corr
0.93	C	Citigroup Aggressive Push	Pair Corr
0.82	L	Loews Corp	Pair Corr
0.83	DHIL	Diamond Hill Investment	Pair Corr
0.63	AC	Associated Capital	Pair Corr
0.9	AX	Axos Financial	Pair Corr
0.8	BK	Bank of New York	Pair Corr
0.89	BN	Brookfield Corp	Pair Corr
0.88	BX	Blackstone Group Normal Trading	Pair Corr
0.73	BY	Byline Bancorp Earnings Call This Week	Pair Corr
0.93	CG	Carlyle Group Earnings Call This Week	Pair Corr
0.88	CM	Canadian Imperial Bank	Pair Corr
0.83	DB	Deutsche Bank AG Earnings Call This Week	Pair Corr
0.88	IX	Orix Corp Ads	Pair Corr

Moving against Hercules Stock

0.53	EG	Everest Group	Pair Corr
0.52	FG	FG Annuities Life	Pair Corr
0.47	CB	Chubb Earnings Call This Week	Pair Corr
0.47	LX	Lexinfintech Holdings	Pair Corr

Related Correlations Analysis

	MAIN	PFLT	FSK	PSEC	CGBD	TSLX	TCPC	TRIN	GBDC	TPVG
MAIN		0.92	0.93	-0.45	0.11	0.93	0.81	0.65	0.84	0.91	MAIN
PFLT	0.92		0.95	-0.32	0.12	0.92	0.85	0.69	0.92	0.91	PFLT
FSK	0.93	0.95		-0.36	0.06	0.96	0.93	0.75	0.97	0.95	FSK
PSEC	-0.45	-0.32	-0.36		0.48	-0.55	-0.5	0.19	-0.33	-0.54	PSEC
CGBD	0.11	0.12	0.06	0.48		-0.11	-0.17	0.53	0.01	-0.1	CGBD
TSLX	0.93	0.92	0.96	-0.55	-0.11		0.93	0.57	0.9	0.97	TSLX
TCPC	0.81	0.85	0.93	-0.5	-0.17	0.93		0.59	0.93	0.95	TCPC
TRIN	0.65	0.69	0.75	0.19	0.53	0.57	0.59		0.74	0.59	TRIN
GBDC	0.84	0.92	0.97	-0.33	0.01	0.9	0.93	0.74		0.91	GBDC
TPVG	0.91	0.91	0.95	-0.54	-0.1	0.97	0.95	0.59	0.91		TPVG
	MAIN	PFLT	FSK	PSEC	CGBD	TSLX	TCPC	TRIN	GBDC	TPVG

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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

GBDC	+ 0.97	FSK
TPVG	+ 0.97	TSLX
TSLX	+ 0.96	FSK
FSK	+ 0.95	PFLT
TPVG	+ 0.95	FSK
TPVG	+ 0.95	TCPC

High negative correlations

TSLX	- 0.55	PSEC
TPVG	- 0.54	PSEC
TCPC	- 0.5	PSEC
PSEC	- 0.45	MAIN
PSEC	- 0.36	FSK
GBDC	- 0.33	PSEC

Risk-Adjusted Indicators

There is a big difference between Hercules Stock performing well and Hercules Capital 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 Hercules Capital'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
MAIN	0.94	0.22	0.17	0.44	0.78	(1.11)	2.00	(1.73)	4.83
PFLT	0.85	0.14	0.07	0.37	0.92	(0.95)	1.89	(1.60)	5.26
FSK	0.90	0.22	0.14	0.44	0.77	(0.98)	2.11	(1.60)	5.79
PSEC	1.26	(0.15)	0.00	(0.02)	0.00	0.00	2.40	(2.42)	8.61
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
TCPC	1.15	0.24	0.12	0.76	1.02	(1.35)	2.55	(1.91)	10.54
TRIN	0.98	0.05	0.01	0.20	0.90	(1.30)	2.04	(1.91)	5.45
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

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