Main Street Correlations

MAIN
 Stock
  

USD 36.64  0.05  0.14%   

The correlation of Main Street is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Main Street moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Main Street Capital moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Additionally, see Correlation Analysis.
  
The ability to find closely correlated positions to Main Street could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Main Street when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Main Street - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Main Street Capital to buy it.

Moving together with Main Street

+0.68BACBank Of AmericaPairCorr
+0.91CCitigroup Fiscal Year End 13th of January 2023 PairCorr
+0.95BBDCBarings BDCPairCorr
+0.82SDRSchroders PLC SplitPairCorr
+0.712881Fubon Financial Holding SplitPairCorr
+0.82KOCoca-ColaPairCorr
+0.68HPQHP IncPairCorr
+0.7PFEPfizer IncPairCorr

Related Correlations

PDS
PTEN
TSCAF
HP
ARHVF
YZCFF
FRGY
PDS
0.970.00.95-0.490.050.0
PDS
PTEN
0.970.00.98-0.530.040.0
PTEN
TSCAF
0.00.00.00.00.00.0
TSCAF
HP
0.950.980.0-0.520.050.0
HP
ARHVF
-0.49-0.530.0-0.520.560.0
ARHVF
YZCFF
0.050.040.00.050.560.0
YZCFF
FRGY
0.00.00.00.00.00.0
FRGY
PDS
PTEN
TSCAF
HP
ARHVF
YZCFF
FRGY
Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
HPPTEN
PTENPDS
HPPDS
YZCFFARHVF
YZCFFPDS
YZCFFHP
  
High negative correlations   
ARHVFPTEN
ARHVFHP
ARHVFPDS
FRGYYZCFF
FRGYARHVF
FRGYHP

Risk-Adjusted Indicators

Nowadays, there is a big difference between Main Street Stock performing well and Main Street company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Main Street's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

The entity Main Street Capital with a symbol MAIN was recently relisted or delisted. You can potentially use MAIN STREET CAPITAL with a symbol MSCA. Please make sure the ticker renaming or change in the classification of Main Street Capital is not a temporary action by the exchange.

Main Street Corporate Directors

Main Street corporate directors refer to members of a Main Street board of directors. The board of directors generally takes responsibility for the Main Street's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Main Street's board members must vote for the resolution. The Main Street board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Valerie Banner - Independent DirectorProfile
Kevin Griffin - Independent DirectorProfile
Nicholas Meserve - Managing Director - Middle Market Investment teamProfile
Travis Haley - Managing Director- Middle Market TeamProfile

Invested in Main Street Capital?

The danger of trading Main Street Capital is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Main Street is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Main Street. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Main Street Capital is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Additionally, see Correlation Analysis. You can also try Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.

Complementary Tools for analysis

When running Main Street Capital price analysis, check to measure Main Street's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Main Street is operating at the current time. Most of Main Street's value examination focuses on studying past and present price action to predict the probability of Main Street's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Main Street's price. Additionally, you may evaluate how the addition of Main Street to your portfolios can decrease your overall portfolio volatility.
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Is Main Street's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Main Street. If investors know Main Street will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Main Street listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
(0.39) 
Market Capitalization
2.8 B
Quarterly Revenue Growth YOY
0.281
Return On Assets
0.0494
Return On Equity
0.1254
The market value of Main Street Capital is measured differently than its book value, which is the value of Main Street that is recorded on the company's balance sheet. Investors also form their own opinion of Main Street's value that differs from its market value or its book value, called intrinsic value, which is Main Street's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Main Street's market value can be influenced by many factors that don't directly affect Main Street's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Main Street's value and its price as these two are different measures arrived at by different means. Investors typically determine Main Street value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Main Street's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.