MAIN vs. HLI
MAIN (Main Street Capital Corporation) and HLI (Houlihan Lokey, Inc.) are both stocks. Both are in the Financial Services sector — MAIN in Asset Management, HLI in Capital Markets. Over the past 10 years, MAIN returned 13.19%/yr vs 21.76%/yr for HLI. At a 0.35 correlation, their price movements are largely independent.
Performance
MAIN vs. HLI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MAIN achieves a -10.97% return, which is significantly higher than HLI's -20.15% return. Over the past 10 years, MAIN has underperformed HLI with an annualized return of 13.19%, while HLI has yielded a comparatively higher 21.76% annualized return.
MAIN
- 1D
- 0.54%
- 1M
- 3.63%
- YTD
- -10.97%
- 6M
- -12.92%
- 1Y
- -3.16%
- 3Y*
- 18.74%
- 5Y*
- 12.76%
- 10Y*
- 13.19%
HLI
- 1D
- 1.67%
- 1M
- -8.19%
- YTD
- -20.15%
- 6M
- -22.50%
- 1Y
- -18.32%
- 3Y*
- 16.18%
- 5Y*
- 13.63%
- 10Y*
- 21.76%
MAIN vs. HLI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MAIN Main Street Capital Corporation | -10.97% | 10.74% | 47.30% | 28.22% | -11.37% | 48.31% | -19.54% | 36.88% | -8.27% | 16.62% |
HLI Houlihan Lokey, Inc. | -20.15% | 1.64% | 47.04% | 40.67% | -13.88% | 57.04% | 40.61% | 36.33% | -17.20% | 49.30% |
Correlation
The correlation between MAIN and HLI is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Aug 13, 2015 | 0.35 |
Fundamentals
MAIN:
$4.72B
HLI:
$9.39B
MAIN:
$5.22
HLI:
$6.22
MAIN:
9.97
HLI:
22.19
MAIN:
1.14
HLI:
6.86
MAIN:
6.63
HLI:
3.61
MAIN:
1.52
HLI:
4.01
MAIN:
$704.17M
HLI:
$2.62B
MAIN:
$499.08M
HLI:
$1.37B
MAIN:
$396.90M
HLI:
$636.63M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MAIN vs. HLI — Risk / Return Rank
MAIN
HLI
MAIN vs. HLI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Main Street Capital Corporation (MAIN) and Houlihan Lokey, Inc. (HLI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MAIN | HLI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.88 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | -0.59 | +0.41 |
| Martin ratioReturn relative to average drawdown | -0.35 | -1.12 | +0.77 |
Loading charts...
Drawdowns
MAIN vs. HLI - Drawdown Comparison
The maximum MAIN drawdown since its inception was -64.53%, which is greater than HLI's maximum drawdown of -36.57%. Use the drawdown chart below to compare losses from any high point for MAIN and HLI.
Loading charts...
Drawdown Indicators
| MAIN | HLI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.53% | -36.57% | -27.96% |
Max Drawdown (1Y)Largest decline over 1 year | -22.43% | -34.38% | +11.95% |
Max Drawdown (3Y)Largest decline over 3 years | -22.43% | -34.38% | +11.95% |
Max Drawdown (5Y)Largest decline over 5 years | -27.06% | -36.57% | +9.51% |
Max Drawdown (10Y)Largest decline over 10 years | -64.53% | -36.57% | -27.96% |
Current DrawdownCurrent decline from peak | -18.28% | -33.28% | +15.00% |
Average DrawdownAverage peak-to-trough decline | -7.31% | -9.59% | +2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.18% | 18.07% | -6.89% |
Volatility
MAIN vs. HLI - Volatility Comparison
The current volatility for Main Street Capital Corporation (MAIN) is 5.82%, while Houlihan Lokey, Inc. (HLI) has a volatility of 8.26%. This indicates that MAIN experiences smaller price fluctuations and is considered to be less risky than HLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MAIN | HLI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.82% | 8.26% | -2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 20.12% | 19.38% | +0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.84% | 26.11% | -1.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.57% | 27.97% | -6.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.30% | 26.89% | +0.41% |
Dividends
MAIN vs. HLI - Dividend Comparison
MAIN's dividend yield for the trailing twelve months is around 8.25%, more than HLI's 1.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HLI Houlihan Lokey, Inc. | 1.81% | 1.36% | 1.30% | 1.82% | 2.32% | 1.56% | 1.90% | 2.46% | 2.74% | 1.76% | 2.12% | 0.57% |
MAIN Main Street Capital Corporation | 8.25% | 7.00% | 7.02% | 8.55% | 7.97% | 5.74% | 6.99% | 6.76% | 8.43% | 7.49% | 7.42% | 9.15% |
Financials
MAIN vs. HLI - Financials Comparison
This section allows you to compare key financial metrics between Main Street Capital Corporation and Houlihan Lokey, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
MAIN vs. HLI - Profitability Comparison
MAIN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Main Street Capital Corporation reported a gross profit of 0.00 and revenue of 140.11M. Therefore, the gross margin over that period was 0.0%.
HLI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Houlihan Lokey, Inc. reported a gross profit of 201.88M and revenue of 635.64M. Therefore, the gross margin over that period was 31.8%.
MAIN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Main Street Capital Corporation reported an operating income of 0.00 and revenue of 140.11M, resulting in an operating margin of 0.0%.
HLI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Houlihan Lokey, Inc. reported an operating income of 125.15M and revenue of 635.64M, resulting in an operating margin of 19.7%.
MAIN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Main Street Capital Corporation reported a net income of 90.82M and revenue of 140.11M, resulting in a net margin of 64.8%.
HLI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Houlihan Lokey, Inc. reported a net income of 99.84M and revenue of 635.64M, resulting in a net margin of 15.7%.
Frequently Asked Questions
MAIN and HLI have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HLI has higher volatility (8.26%) compared to MAIN (5.82%). In terms of maximum drawdown, MAIN dropped -64.53% vs HLI's -36.57%.
MAIN currently has the higher Sharpe Ratio (-0.16 vs -0.78), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for MAIN and HLI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer