CCAP vs COCP: Correlation
Measured on weekly returns over the past three years, Crescent Capital BDC, Inc. (CCAP) and Cocrystal Pharma, Inc. (COCP) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCAP and COCP?
Over the past 3 years, CCAP and COCP moved with a correlation of 0.32, which is moderate. The link has tightened recently: the 1-year correlation (0.45) runs above the 3-year figure (0.32). Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 544.6 %².
Among the 18 assets we track against CCAP, COCP ranks #13 by 3-year correlation. Their 12-month results are close: -22.8% for CCAP against -26.5% for COCP. One caveat on sizing: COCP is 3.3 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.
CCAP vs COCP: side by side
| CCAP (Crescent Capital BDC, Inc.) | COCP (Cocrystal Pharma, Inc.) | |
|---|---|---|
| 1-year return | -22.8% | -26.5% |
| 5-year return | +1.5% | -91.4% |
| Volatility (ann.) | 22.9% | 75.4% |
| Beta vs S&P 500 | 0.60 | 1.06 |
| Max drawdown (3Y) | -36.2% | -74.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 15.14% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCAP | COCP |
|---|---|---|
| 2022 | -18.5% | -75.0% |
| 2023 | +52.6% | -11.8% |
| 2024 | +23.5% | +17.4% |
| 2025 | -17.5% | -51.5% |
| 2026 | -19.3% | +16.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCAP and COCP good diversifiers for each other?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CCAP and COCP?
The CCAP/COCP correlation stands at 0.32 on a 3-year window (1 year: 0.45, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is COCP a good diversifier for CCAP?
A fair diversifier. At 0.32, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.32 mean?
On the −1 to +1 scale, 0.32 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
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[](https://www.pairbook.io/pair/ccap-vs-cocp/)
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Related comparisons
Hubs: CCAP correlations · COCP correlations
