BDCZ vs GAIN: Correlation
How closely do ETRACS MarketVector Business Development Companies Liquid (BDCZ) and Gl (GAIN) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDCZ and GAIN?
Over the past 3 years, BDCZ and GAIN moved with a correlation of 0.58, which is moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.58 over 3. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 186.4 %².
Among the 49 assets we track against BDCZ, GAIN ranks #33 by 3-year correlation. The last year tells two different stories: GAIN led by 28.9 percentage points, -4.0% for BDCZ against +24.9% for GAIN.
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 GAIN: side by side
| BDCZ (ETRACS MarketVector Business Development Companies Liquid) | GAIN (Gl) | |
|---|---|---|
| 1-year return | -4.0% | +24.9% |
| 5-year return | +29.0% | +92.6% |
| Volatility (ann.) | 16.0% | 20.1% |
| Beta vs S&P 500 | 0.58 | 0.61 |
| Max drawdown (3Y) | -20.8% | -14.8% |
| Market cap | – | – |
| P/E (trailing) | – | 3.8 |
| Dividend yield | 0.00% | 5.86% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDCZ | GAIN |
|---|---|---|
| 2022 | -9.1% | -17.5% |
| 2023 | +25.3% | +31.0% |
| 2024 | +12.2% | +5.3% |
| 2025 | -3.7% | +17.1% |
| 2026 | +0.4% | +22.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDCZ and GAIN good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BDCZ and GAIN?
The BDCZ/GAIN correlation stands at 0.58 on a 3-year window (1 year: 0.57, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is GAIN a good diversifier for BDCZ?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
A reading of 0.58 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-gain.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bdcz-vs-gain/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BDCZ correlations · GAIN correlations
