BCSF vs BDCZ: Correlation
Bain Capital Specialty Finance, Inc. (BCSF) and ETRACS MarketVector Business Development Companies Liquid (BDCZ) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCSF and BDCZ?
On 3 years of weekly data the BCSF/BDCZ correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.80) sits close to the 3-year figure. The 5-year figure is 0.80, and annualized covariance runs at 243.1 %².
In BCSF's tracked universe of 15 assets, BDCZ sits right near the top at #1. Over the last 12 months BDCZ came out ahead by 8.0 percentage points (-12.0% 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.
BCSF vs BDCZ: side by side
| BCSF (Bain Capital Specialty Finance, Inc.) | BDCZ (ETRACS MarketVector Business Development Companies Liquid) | |
|---|---|---|
| 1-year return | -12.0% | -4.0% |
| 5-year return | +39.1% | +29.0% |
| Volatility (ann.) | 18.9% | 16.0% |
| Beta vs S&P 500 | 0.60 | 0.58 |
| Max drawdown (3Y) | -26.4% | -20.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | 12.0 | – |
| Dividend yield | 14.12% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCSF | BDCZ |
|---|---|---|
| 2022 | -13.3% | -9.1% |
| 2023 | +42.0% | +25.3% |
| 2024 | +29.5% | +12.2% |
| 2025 | -9.6% | -3.7% |
| 2026 | -8.5% | +0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCSF and BDCZ good diversifiers for each other?
No: a correlation of 0.80 means BCSF and BDCZ tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between BCSF and BDCZ?
The BCSF/BDCZ correlation stands at 0.80 on a 3-year window (1 year: 0.80, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is BDCZ a good diversifier for BCSF?
No: a correlation of 0.80 means BCSF and BDCZ tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.80 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/bcsf-vs-bdcz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bcsf-vs-bdcz/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BCSF correlations · BDCZ correlations
