BDCZ vs KBDC: Correlation
ETRACS MarketVector Business Development Companies Liquid (BDCZ) and Kayne Anderson BDC, Inc. (KBDC) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDCZ and KBDC?
Over the past 3 years, BDCZ and KBDC moved with a correlation of 0.65, which is strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 176.1 %².
Within BDCZ's tracked universe of 49 assets, KBDC comes in at #30 by 3-year correlation. Twelve-month performance is nearly a tie, at -4.0% for BDCZ and +0.9% for KBDC.
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 KBDC: side by side
| BDCZ (ETRACS MarketVector Business Development Companies Liquid) | KBDC (Kayne Anderson BDC, Inc.) | |
|---|---|---|
| 1-year return | -4.0% | +0.9% |
| 5-year return | +29.0% | n/a |
| Volatility (ann.) | 16.0% | 15.7% |
| Beta vs S&P 500 | 0.58 | 0.39 |
| Max drawdown (3Y) | -20.8% | -19.6% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | 12.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDCZ | KBDC |
|---|---|---|
| 2022 | -9.1% | – |
| 2023 | +25.3% | – |
| 2024 | +12.2% | – |
| 2025 | -3.7% | -2.4% |
| 2026 | +0.4% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDCZ and KBDC good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BDCZ and KBDC?
The BDCZ/KBDC correlation stands at 0.65 on a 3-year window (1 year: 0.68, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is KBDC a good diversifier for BDCZ?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
A reading of 0.65 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-kbdc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bdcz-vs-kbdc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BDCZ correlations · KBDC correlations
