BDCZ vs MFIC: Correlation
ETRACS MarketVector Business Development Companies Liquid (BDCZ) and MidCap Financial Investment Corporation - Closed End Fund (MFIC) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDCZ and MFIC?
On 3 years of weekly data the BDCZ/MFIC correlation comes out at 0.72, strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.72 over 3. The 5-year figure is 0.78, and annualized covariance runs at 238.3 %².
By 3-year correlation, MFIC places #22 of the 49 assets tracked against BDCZ. The trailing year gives BDCZ the advantage: -4.0% versus -17.7%, a 13.7-point spread.
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 MFIC: side by side
| BDCZ (ETRACS MarketVector Business Development Companies Liquid) | MFIC (MidCap Financial Investment Corporation - Closed End Fund) | |
|---|---|---|
| 1-year return | -4.0% | -17.7% |
| 5-year return | +29.0% | +29.0% |
| Volatility (ann.) | 16.0% | 20.8% |
| Beta vs S&P 500 | 0.58 | 0.57 |
| Max drawdown (3Y) | -20.8% | -27.0% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 14.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDCZ | MFIC |
|---|---|---|
| 2022 | -9.1% | +0.2% |
| 2023 | +25.3% | +35.5% |
| 2024 | +12.2% | +11.2% |
| 2025 | -3.7% | -4.3% |
| 2026 | +0.4% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDCZ and MFIC good diversifiers for each other?
Only partially. A correlation of 0.72 means BDCZ and MFIC 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 MFIC?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.62 over the last year and 0.78 over 5 years.
Is MFIC a good diversifier for BDCZ?
Only partially. A correlation of 0.72 means BDCZ and MFIC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bdcz-vs-mfic.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bdcz-vs-mfic/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BDCZ correlations · MFIC correlations
