BDCZ vs TRIN: Correlation
Measured on weekly returns over the past three years, ETRACS MarketVector Business Development Companies Liquid (BDCZ) and Trinity Capital Inc. (TRIN) 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 TRIN?
On 3 years of weekly data the BDCZ/TRIN correlation comes out at 0.68, strong. Little has changed lately, as the 1-year reading of 0.73 lands near the 3-year figure. The 5-year figure is 0.60, and annualized covariance runs at 202.6 %².
Within BDCZ's tracked universe of 49 assets, TRIN comes in at #27 by 3-year correlation. The last year tells two different stories: TRIN led by 39.6 percentage points, -4.0% for BDCZ against +35.6% for TRIN.
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 TRIN: side by side
| BDCZ (ETRACS MarketVector Business Development Companies Liquid) | TRIN (Trinity Capital Inc.) | |
|---|---|---|
| 1-year return | -4.0% | +35.6% |
| 5-year return | +29.0% | +139.8% |
| Volatility (ann.) | 16.0% | 18.5% |
| Beta vs S&P 500 | 0.58 | 0.56 |
| Max drawdown (3Y) | -20.8% | -15.6% |
| Market cap | – | $1.7B |
| P/E (trailing) | – | 10.7 |
| Dividend yield | 0.00% | 10.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDCZ | TRIN |
|---|---|---|
| 2022 | -9.1% | -26.6% |
| 2023 | +25.3% | +54.0% |
| 2024 | +12.2% | +14.8% |
| 2025 | -3.7% | +16.0% |
| 2026 | +0.4% | +38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDCZ and TRIN good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BDCZ and TRIN?
As of 2026-08-27, the correlation of weekly returns between BDCZ and TRIN is 0.68 over 3 years, 0.73 over 1 year and 0.60 over 5 years.
Is TRIN a good diversifier for BDCZ?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
On the −1 to +1 scale, 0.68 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bdcz-vs-trin.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bdcz-vs-trin/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BDCZ correlations · TRIN correlations
