BDCZ vs SNAP: Correlation
ETRACS MarketVector Business Development Companies Liquid (BDCZ) and Snap Inc. (SNAP) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDCZ and SNAP?
Across a 3-year window, the weekly returns of BDCZ and SNAP correlate at 0.46, moderate. The past 12 months show a tighter link (0.61) than the 3-year average (0.46). Stretching to 5 years gives 0.37, with an annualized covariance of 444.8 %².
By 3-year correlation, SNAP places #41 of the 49 assets tracked against BDCZ. Correlation aside, the last 12 months split them widely, with BDCZ ahead by 19.7 points (-4.0% versus -23.7%). Risk is not evenly split, since SNAP carries 3.7 times the volatility of the other side.
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 SNAP: side by side
| BDCZ (ETRACS MarketVector Business Development Companies Liquid) | SNAP (Snap Inc.) | |
|---|---|---|
| 1-year return | -4.0% | -23.7% |
| 5-year return | +29.0% | -92.8% |
| Volatility (ann.) | 16.0% | 59.8% |
| Beta vs S&P 500 | 0.58 | 1.59 |
| Max drawdown (3Y) | -20.8% | -77.5% |
| Market cap | – | $9.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDCZ | SNAP |
|---|---|---|
| 2022 | -9.1% | -81.0% |
| 2023 | +25.3% | +89.2% |
| 2024 | +12.2% | -36.4% |
| 2025 | -3.7% | -25.1% |
| 2026 | +0.4% | -34.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDCZ and SNAP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BDCZ and SNAP?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.61 over the last year and 0.37 over 5 years.
Is SNAP a good diversifier for BDCZ?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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-snap.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bdcz-vs-snap/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BDCZ correlations · SNAP correlations
