BDCZ vs TPVG: Correlation
Measured on weekly returns over the past three years, ETRACS MarketVector Business Development Companies Liquid (BDCZ) and TriplePoint Venture Growth BDC Corp. (TPVG) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDCZ and TPVG?
On 3 years of weekly data the BDCZ/TPVG correlation comes out at 0.68, strong. The relationship has been stable: the 1-year correlation (0.78) sits close to the 3-year figure. The 5-year figure is 0.71, and annualized covariance runs at 370.0 %².
By 3-year correlation, TPVG places #26 of the 49 assets tracked against BDCZ. Neither side won the trailing year by much: -4.0% against -5.1%. One caveat on sizing: TPVG is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 TPVG: side by side
| BDCZ (ETRACS MarketVector Business Development Companies Liquid) | TPVG (TriplePoint Venture Growth BDC Corp.) | |
|---|---|---|
| 1-year return | -4.0% | -5.1% |
| 5-year return | +29.0% | -31.0% |
| Volatility (ann.) | 16.0% | 33.8% |
| Beta vs S&P 500 | 0.58 | 1.06 |
| Max drawdown (3Y) | -20.8% | -43.4% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 5.4 |
| Dividend yield | 0.00% | 17.29% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDCZ | TPVG |
|---|---|---|
| 2022 | -9.1% | -34.7% |
| 2023 | +25.3% | +20.3% |
| 2024 | +12.2% | -20.0% |
| 2025 | -3.7% | +3.9% |
| 2026 | +0.4% | -10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDCZ and TPVG good diversifiers for each other?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BDCZ and TPVG?
The BDCZ/TPVG correlation stands at 0.68 on a 3-year window (1 year: 0.78, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is TPVG a good diversifier for BDCZ?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.68 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-tpvg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bdcz-vs-tpvg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BDCZ correlations · TPVG correlations
