BDCZ vs FDUS: Correlation
Measured on weekly returns over the past three years, ETRACS MarketVector Business Development Companies Liquid (BDCZ) and Fidus Investment Corporation - Closed End Fund (FDUS) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDCZ and FDUS?
On 3 years of weekly data the BDCZ/FDUS correlation comes out at 0.78, strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. The 5-year figure is 0.76, and annualized covariance runs at 219.4 %².
Among the 49 assets we track against BDCZ, FDUS ranks #17 by 3-year correlation. On 12-month performance FDUS holds a 7.7-point edge, -4.0% against +3.7%.
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.
BDCZ vs FDUS: side by side
| BDCZ (ETRACS MarketVector Business Development Companies Liquid) | FDUS (Fidus Investment Corporation - Closed End Fund) | |
|---|---|---|
| 1-year return | -4.0% | +3.7% |
| 5-year return | +29.0% | +100.3% |
| Volatility (ann.) | 16.0% | 17.5% |
| Beta vs S&P 500 | 0.58 | 0.57 |
| Max drawdown (3Y) | -20.8% | -23.9% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | 9.5 |
| Dividend yield | 0.00% | 8.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDCZ | FDUS |
|---|---|---|
| 2022 | -9.1% | +17.1% |
| 2023 | +25.3% | +20.0% |
| 2024 | +12.2% | +20.5% |
| 2025 | -3.7% | +2.1% |
| 2026 | +0.4% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDCZ and FDUS good diversifiers for each other?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BDCZ and FDUS?
As of 2026-08-27, the correlation of weekly returns between BDCZ and FDUS is 0.78 over 3 years, 0.71 over 1 year and 0.76 over 5 years.
Is FDUS a good diversifier for BDCZ?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.78 mean?
A reading of 0.78 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/bdcz-vs-fdus.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bdcz-vs-fdus/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BDCZ correlations · FDUS correlations
