CCAP vs GRSD: Correlation
How closely do Crescent Capital BDC, Inc. (CCAP) and Grandstand Limited (GRSD) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCAP and GRSD?
On 3 years of weekly data the CCAP/GRSD correlation comes out at 0.45, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. The 5-year figure is 0.31, and annualized covariance runs at 548.8 %².
By 3-year correlation, GRSD places #8 of the 18 assets tracked against CCAP. Their recent paths diverged sharply: over the last 12 months CCAP outperformed by 55.6 percentage points (-22.8% for CCAP against -78.4% for GRSD). Risk is not evenly split, since GRSD carries 2.3 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.
CCAP vs GRSD: side by side
| CCAP (Crescent Capital BDC, Inc.) | GRSD (Grandstand Limited) | |
|---|---|---|
| 1-year return | -22.8% | -78.4% |
| 5-year return | +1.5% | -85.5% |
| Volatility (ann.) | 22.9% | 53.1% |
| Beta vs S&P 500 | 0.60 | 0.92 |
| Max drawdown (3Y) | -36.2% | -90.1% |
| Market cap | $0.4B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 15.14% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCAP | GRSD |
|---|---|---|
| 2022 | -18.5% | -9.9% |
| 2023 | +52.6% | +6.6% |
| 2024 | +23.5% | +44.4% |
| 2025 | -17.5% | -61.2% |
| 2026 | -19.3% | -66.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCAP and GRSD good diversifiers for each other?
Reasonably. At 0.45, CCAP and GRSD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CCAP and GRSD?
The CCAP/GRSD correlation stands at 0.45 on a 3-year window (1 year: 0.51, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is GRSD a good diversifier for CCAP?
Reasonably. At 0.45, CCAP and GRSD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 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.
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Related comparisons
Hubs: CCAP correlations · GRSD correlations
