BBDC vs BDCZ: Correlation
Measured on weekly returns over the past three years, Barings BDC, Inc. (BBDC) and ETRACS MarketVector Business Development Companies Liquid (BDCZ) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBDC and BDCZ?
Over the past 3 years, BBDC and BDCZ moved with a correlation of 0.79, which is strong. Little has changed lately, as the 1-year reading of 0.85 lands near the 3-year figure. Over 5 years the correlation is 0.79, and the annualized covariance of weekly returns is 249.1 %².
In BBDC's tracked universe of 12 assets, BDCZ sits right near the top at #1. On 12-month performance BBDC holds a 11.8-point edge, +7.8% against -4.0%.
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.
BBDC vs BDCZ: side by side
| BBDC (Barings BDC, Inc.) | BDCZ (ETRACS MarketVector Business Development Companies Liquid) | |
|---|---|---|
| 1-year return | +7.8% | -4.0% |
| 5-year return | +50.4% | +29.0% |
| Volatility (ann.) | 19.5% | 16.0% |
| Beta vs S&P 500 | 0.60 | 0.58 |
| Max drawdown (3Y) | -24.5% | -20.8% |
| Market cap | $1.0B | – |
| P/E (trailing) | 11.4 | – |
| Dividend yield | 11.12% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBDC | BDCZ |
|---|---|---|
| 2022 | -18.6% | -9.1% |
| 2023 | +18.5% | +25.3% |
| 2024 | +23.9% | +12.2% |
| 2025 | +8.8% | -3.7% |
| 2026 | +8.6% | +0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBDC and BDCZ good diversifiers for each other?
To a limited degree. At 0.79 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BBDC and BDCZ?
The BBDC/BDCZ correlation stands at 0.79 on a 3-year window (1 year: 0.85, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is BDCZ a good diversifier for BBDC?
To a limited degree. At 0.79 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.79 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bbdc-vs-bdcz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bbdc-vs-bdcz/)
No key needed, free to use. Full endpoint list in the API documentation.
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Hubs: BBDC correlations · BDCZ correlations
