Frankly, I don't see a connection between CODI and crude ... but obviously folks are selling CODI for some reason. Maybe its crude, maybe it's being sold off like most everything else. My guess is it being dumped more because it's private equity and fear of bad loans, even though CODI isn't a traditional p/e lender.
I just took a look at historical prices (to 2006), and $15/pps looks like the median and average. I wish I had a chart comparing NAV/pps over time, but I'm too lazy to build it.
Based on historical prices, it should probably be close to $15 now. I don't believe that others haven't done the same calculation as you and I ... I just don't understand it.
I'm not going to start buying until I see evidence of a bottom in CODI stock, using stockcharts.com, rsi and MACD. I might miss the bottom by 3-5%, but don't need more knife cuts on my hands. So far, the chart remains in freefall and it isn't even oversold yet. Good luck.