BBDC vs CGBD: Correlation
Measured on weekly returns over the past three years, Barings BDC, Inc. (BBDC) and Carlyle Secured Lending, Inc. - Closed End Fund (CGBD) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBDC and CGBD?
Across a 3-year window, the weekly returns of BBDC and CGBD correlate at 0.72, strong. Little has changed lately, as the 1-year reading of 0.80 lands near the 3-year figure. Stretching to 5 years gives 0.69, with an annualized covariance of 303.3 %².
By 3-year correlation, CGBD places #4 of the 12 assets tracked against BBDC. Over the last 12 months BBDC came out ahead by 11.7 percentage points (+7.8% against -3.9%).
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 CGBD: side by side
| BBDC (Barings BDC, Inc.) | CGBD (Carlyle Secured Lending, Inc. - Closed End Fund) | |
|---|---|---|
| 1-year return | +7.8% | -3.9% |
| 5-year return | +50.4% | +52.6% |
| Volatility (ann.) | 19.5% | 21.6% |
| Beta vs S&P 500 | 0.60 | 0.67 |
| Max drawdown (3Y) | -24.5% | -35.1% |
| Market cap | $1.0B | $0.8B |
| P/E (trailing) | 11.4 | 22.4 |
| Dividend yield | 11.12% | 13.68% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBDC | CGBD |
|---|---|---|
| 2022 | -18.6% | +17.7% |
| 2023 | +18.5% | +18.0% |
| 2024 | +23.9% | +33.5% |
| 2025 | +8.8% | -21.5% |
| 2026 | +8.6% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBDC and CGBD good diversifiers for each other?
Only partially. A correlation of 0.72 means BBDC and CGBD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BBDC and CGBD?
As of 2026-08-27, the correlation of weekly returns between BBDC and CGBD is 0.72 over 3 years, 0.80 over 1 year and 0.69 over 5 years.
Is CGBD a good diversifier for BBDC?
Only partially. A correlation of 0.72 means BBDC and CGBD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 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-cgbd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbdc-vs-cgbd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BBDC correlations · CGBD correlations
