BANX vs MSD: Correlation
ArrowMark Financial Corp. - Closed End Fund (BANX) and Morgan Stanley Emerging Markets Debt Fund, Inc. (MSD) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BANX and MSD?
On 3 years of weekly data the BANX/MSD correlation comes out at 0.41, moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.41 over 3. The 5-year figure is 0.23, and annualized covariance runs at 69.9 %².
Among the 12 assets we track against BANX, MSD ranks #5 by 3-year correlation. The trailing year gives BANX the advantage: +13.0% versus +5.8%, a 7.2-point spread.
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.
BANX vs MSD: side by side
| BANX (ArrowMark Financial Corp. - Closed End Fund) | MSD (Morgan Stanley Emerging Markets Debt Fund, Inc.) | |
|---|---|---|
| 1-year return | +13.0% | +5.8% |
| 5-year return | +58.6% | +22.9% |
| Volatility (ann.) | 14.7% | 11.6% |
| Beta vs S&P 500 | 0.32 | 0.40 |
| Max drawdown (3Y) | -13.7% | -12.8% |
| Market cap | $0.2B | $0.1B |
| P/E (trailing) | 8.4 | 6.9 |
| Dividend yield | 8.75% | 9.78% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BANX | MSD |
|---|---|---|
| 2022 | -15.3% | -22.1% |
| 2023 | +20.4% | +19.2% |
| 2024 | +27.7% | +24.9% |
| 2025 | +15.6% | +5.6% |
| 2026 | +0.9% | +2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BANX and MSD good diversifiers for each other?
Reasonably. At 0.41, BANX and MSD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BANX and MSD?
The BANX/MSD correlation stands at 0.41 on a 3-year window (1 year: 0.38, 5 years: 0.23), computed from weekly returns as of 2026-08-27.
Is MSD a good diversifier for BANX?
Reasonably. At 0.41, BANX and MSD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 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/banx-vs-msd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/banx-vs-msd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BANX correlations · MSD correlations
