BDCZ vs MCI: Correlation
ETRACS MarketVector Business Development Companies Liquid (BDCZ) and Barings Corporate Investors (MCI) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDCZ and MCI?
On 3 years of weekly data the BDCZ/MCI correlation comes out at 0.27, weak. The past 12 months show a tighter link (0.41) than the 3-year average (0.27). The 5-year figure is 0.29, and annualized covariance runs at 108.9 %².
Out of 49 assets tracked against BDCZ, MCI lands near the bottom at #46. Their 12-month results are close: -4.0% for BDCZ against -7.7% for MCI. Note the risk asymmetry: MCI runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 MCI: side by side
| BDCZ (ETRACS MarketVector Business Development Companies Liquid) | MCI (Barings Corporate Investors) | |
|---|---|---|
| 1-year return | -4.0% | -7.7% |
| 5-year return | +29.0% | +77.0% |
| Volatility (ann.) | 16.0% | 25.3% |
| Beta vs S&P 500 | 0.58 | 0.13 |
| Max drawdown (3Y) | -20.8% | -27.9% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 13.2 |
| Dividend yield | 0.00% | 8.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDCZ | MCI |
|---|---|---|
| 2022 | -9.1% | -5.9% |
| 2023 | +25.3% | +44.5% |
| 2024 | +12.2% | +20.8% |
| 2025 | -3.7% | -3.7% |
| 2026 | +0.4% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDCZ and MCI good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BDCZ and MCI?
As of 2026-08-27, the correlation of weekly returns between BDCZ and MCI is 0.27 over 3 years, 0.41 over 1 year and 0.29 over 5 years.
Is MCI a good diversifier for BDCZ?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
A reading of 0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BDCZ correlations · MCI correlations
