BDCZ vs MAIN: Correlation
How closely do ETRACS MarketVector Business Development Companies Liquid (BDCZ) and Main Street Capital Corporation (MAIN) trade together? Their weekly returns over three years give a correlation of 0.79, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDCZ and MAIN?
Over the past 3 years, BDCZ and MAIN moved with a correlation of 0.79, which is strong. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 249.3 %².
Among the 49 assets we track against BDCZ, MAIN ranks #15 by 3-year correlation. Neither side won the trailing year by much: -4.0% against -2.5%.
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 MAIN: side by side
| BDCZ (ETRACS MarketVector Business Development Companies Liquid) | MAIN (Main Street Capital Corporation) | |
|---|---|---|
| 1-year return | -4.0% | -2.5% |
| 5-year return | +29.0% | +106.5% |
| Volatility (ann.) | 16.0% | 19.6% |
| Beta vs S&P 500 | 0.58 | 0.69 |
| Max drawdown (3Y) | -20.8% | -22.4% |
| Market cap | – | $5.5B |
| P/E (trailing) | – | 11.7 |
| Dividend yield | 0.00% | 5.29% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDCZ | MAIN |
|---|---|---|
| 2022 | -9.1% | -11.4% |
| 2023 | +25.3% | +28.2% |
| 2024 | +12.2% | +47.3% |
| 2025 | -3.7% | +10.7% |
| 2026 | +0.4% | +1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDCZ and MAIN good diversifiers for each other?
Only partially. A correlation of 0.79 means BDCZ and MAIN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BDCZ and MAIN?
As of 2026-08-27, the correlation of weekly returns between BDCZ and MAIN is 0.79 over 3 years, 0.76 over 1 year and 0.80 over 5 years.
Is MAIN a good diversifier for BDCZ?
Only partially. A correlation of 0.79 means BDCZ and MAIN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 mean?
On the −1 to +1 scale, 0.79 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bdcz-vs-main.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bdcz-vs-main/)
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Related comparisons
Hubs: BDCZ correlations · MAIN correlations
