BDCZ vs GLAD: Correlation
ETRACS MarketVector Business Development Companies Liquid (BDCZ) and Gl (GLAD) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDCZ and GLAD?
On 3 years of weekly data the BDCZ/GLAD correlation comes out at 0.76, strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. The 5-year figure is 0.75, and annualized covariance runs at 278.2 %².
Within BDCZ's tracked universe of 49 assets, GLAD comes in at #19 by 3-year correlation. On 12-month performance BDCZ holds a 12.7-point edge, -4.0% against -16.7%.
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 GLAD: side by side
| BDCZ (ETRACS MarketVector Business Development Companies Liquid) | GLAD (Gl) | |
|---|---|---|
| 1-year return | -4.0% | -16.7% |
| 5-year return | +29.0% | +32.9% |
| Volatility (ann.) | 16.0% | 22.7% |
| Beta vs S&P 500 | 0.58 | 0.75 |
| Max drawdown (3Y) | -20.8% | -39.6% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 9.3 |
| Dividend yield | 0.00% | 9.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDCZ | GLAD |
|---|---|---|
| 2022 | -9.1% | -10.4% |
| 2023 | +25.3% | +22.7% |
| 2024 | +12.2% | +47.0% |
| 2025 | -3.7% | -21.1% |
| 2026 | +0.4% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDCZ and GLAD good diversifiers for each other?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BDCZ and GLAD?
The BDCZ/GLAD correlation stands at 0.76 on a 3-year window (1 year: 0.72, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is GLAD a good diversifier for BDCZ?
To a limited degree. At 0.76 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.76 mean?
A reading of 0.76 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-glad.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bdcz-vs-glad/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BDCZ correlations · GLAD correlations
