AGPU vs ICMB: Correlation
Measured on weekly returns over the past three years, Axe Compute Inc. (AGPU) and Investcorp Credit Management BDC, Inc. (ICMB) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGPU and ICMB?
On 3 years of weekly data the AGPU/ICMB correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.40) runs below the 3-year figure (-0.27). The 5-year figure is -0.19, and annualized covariance runs at -1791.6 %².
ICMB is close to the least connected end of AGPU's tracked universe, ranking #12 of 13. Their recent paths diverged sharply: over the last 12 months AGPU outperformed by 43.6 percentage points (-24.4% for AGPU against -68.0% for ICMB). Note the risk asymmetry: AGPU runs 3.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AGPU vs ICMB: side by side
| AGPU (Axe Compute Inc.) | ICMB (Investcorp Credit Management BDC, Inc.) | |
|---|---|---|
| 1-year return | -24.4% | -68.0% |
| 5-year return | -96.8% | -68.9% |
| Volatility (ann.) | 146.2% | 44.6% |
| Beta vs S&P 500 | 1.75 | 0.46 |
| Max drawdown (3Y) | -97.9% | -75.5% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 28.76% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGPU | ICMB |
|---|---|---|
| 2022 | -67.8% | -19.0% |
| 2023 | -46.4% | +19.0% |
| 2024 | -75.1% | +0.7% |
| 2025 | -41.9% | +5.9% |
| 2026 | +44.9% | -68.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGPU and ICMB good diversifiers for each other?
Yes. With a correlation of -0.27, AGPU and ICMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AGPU and ICMB?
As of 2026-08-27, the correlation of weekly returns between AGPU and ICMB is -0.27 over 3 years, -0.40 over 1 year and -0.19 over 5 years.
Is ICMB a good diversifier for AGPU?
Yes. With a correlation of -0.27, AGPU and ICMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/agpu-vs-icmb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/agpu-vs-icmb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AGPU correlations · ICMB correlations
