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When multiple threads or processes run on a multi-core CPU they compete for shared resources, such as caches and memory controllers, and can suffer performance degradation as high as 200%. We design and evaluate a new machine learning model that estimates this degradation online, on previously unseen workloads, and without perturbing the execution. Our motivation is to help data center and HPC cluster operators effectively use workload consolidation. Data center consolidation is about placing many applications on the same server to maximize hardware utilization. In HPC clusters, processes of the same distributed applications run on the same machine. Consolidation improves hardware utilization, but may sacrifice performance as processes compete for resources. Our model helps determine when consolidation is overly harmful to performance. Our work is the first to apply machine learning to this problem domain, and we report on our experience reaping the advantages of machine learning while navigating around its limitations. We demonstrate how the model can be used to improve performance fidelity and save energy for HPC workloads.