BCIC vs ICMB: Correlation
BCP Investment Corporation - Closed End Fund (BCIC) and Investcorp Credit Management BDC, Inc. (ICMB) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCIC and ICMB?
Across a 3-year window, the weekly returns of BCIC and ICMB correlate at 0.38, moderate. Recent behaviour matches the longer record: 0.37 over 1 year against 0.38 over 3. Stretching to 5 years gives 0.32, with an annualized covariance of 385.8 %².
Within BCIC's tracked universe of 14 assets, ICMB comes in at #7 by 3-year correlation. The last year tells two different stories: BCIC led by 41.0 percentage points, -27.0% for BCIC against -68.0% for ICMB. Note the risk asymmetry: ICMB runs 2.0 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.
BCIC vs ICMB: side by side
| BCIC (BCP Investment Corporation - Closed End Fund) | ICMB (Investcorp Credit Management BDC, Inc.) | |
|---|---|---|
| 1-year return | -27.0% | -68.0% |
| 5-year return | -38.0% | -68.9% |
| Volatility (ann.) | 22.8% | 44.6% |
| Beta vs S&P 500 | 0.53 | 0.46 |
| Max drawdown (3Y) | -52.7% | -75.5% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 17.34% | 28.76% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCIC | ICMB |
|---|---|---|
| 2022 | +3.8% | -19.0% |
| 2023 | -9.0% | +19.0% |
| 2024 | +3.9% | +0.7% |
| 2025 | -15.8% | +5.9% |
| 2026 | -28.2% | -68.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCIC and ICMB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BCIC and ICMB?
As of 2026-08-27, the correlation of weekly returns between BCIC and ICMB is 0.38 over 3 years, 0.37 over 1 year and 0.32 over 5 years.
Is ICMB a good diversifier for BCIC?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bcic-vs-icmb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bcic-vs-icmb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BCIC correlations · ICMB correlations
