BDCZ vs PFLT: Correlation
Measured on weekly returns over the past three years, ETRACS MarketVector Business Development Companies Liquid (BDCZ) and PennantPark Floating Rate Capital Ltd. (PFLT) carry a correlation of 0.79, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDCZ and PFLT?
Over the past 3 years, BDCZ and PFLT moved with a correlation of 0.79, which is strong. Recent behaviour matches the longer record: 0.76 over 1 year against 0.79 over 3. Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 254.4 %².
Within BDCZ's tracked universe of 49 assets, PFLT comes in at #16 by 3-year correlation. On 12-month performance BDCZ holds a 12.0-point edge, -4.0% against -16.0%.
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 PFLT: side by side
| BDCZ (ETRACS MarketVector Business Development Companies Liquid) | PFLT (PennantPark Floating Rate Capital Ltd.) | |
|---|---|---|
| 1-year return | -4.0% | -16.0% |
| 5-year return | +29.0% | +1.5% |
| Volatility (ann.) | 16.0% | 20.1% |
| Beta vs S&P 500 | 0.58 | 0.69 |
| Max drawdown (3Y) | -20.8% | -28.4% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | 14.6 |
| Dividend yield | 0.00% | 16.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDCZ | PFLT |
|---|---|---|
| 2022 | -9.1% | -5.5% |
| 2023 | +25.3% | +23.1% |
| 2024 | +12.2% | +0.7% |
| 2025 | -3.7% | -4.1% |
| 2026 | +0.4% | -12.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDCZ and PFLT good diversifiers for each other?
Only partially. A correlation of 0.79 means BDCZ and PFLT 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 PFLT?
Using weekly returns as of 2026-08-27: 0.79 over 3 years, with 0.76 over the last year and 0.78 over 5 years.
Is PFLT a good diversifier for BDCZ?
Only partially. A correlation of 0.79 means BDCZ and PFLT 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?
A reading of 0.79 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-pflt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bdcz-vs-pflt/)
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Related comparisons
Hubs: BDCZ correlations · PFLT correlations
