CCAP vs NCMI: Correlation
How closely do Crescent Capital BDC, Inc. (CCAP) and National CineMedia, Inc. (NCMI) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCAP and NCMI?
Over the past 3 years, CCAP and NCMI moved with a correlation of 0.37, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.52 versus 0.37 over 3 years. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 440.6 %².
By 3-year correlation, NCMI places #11 of the 18 assets tracked against CCAP. The last year tells two different stories: CCAP led by 17.8 percentage points, -22.8% for CCAP against -40.6% for NCMI. Note the risk asymmetry: NCMI runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 NCMI: side by side
| CCAP (Crescent Capital BDC, Inc.) | NCMI (National CineMedia, Inc.) | |
|---|---|---|
| 1-year return | -22.8% | -40.6% |
| 5-year return | +1.5% | -88.8% |
| Volatility (ann.) | 22.9% | 51.6% |
| Beta vs S&P 500 | 0.60 | 0.73 |
| Max drawdown (3Y) | -36.2% | -68.9% |
| Market cap | $0.4B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 15.14% | 3.41% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCAP | NCMI |
|---|---|---|
| 2022 | -18.5% | -91.7% |
| 2023 | +52.6% | +88.2% |
| 2024 | +23.5% | +60.4% |
| 2025 | -17.5% | -39.9% |
| 2026 | -19.3% | -34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCAP and NCMI good diversifiers for each other?
Reasonably. At 0.37, CCAP and NCMI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CCAP and NCMI?
As of 2026-08-27, the correlation of weekly returns between CCAP and NCMI is 0.37 over 3 years, 0.52 over 1 year and 0.33 over 5 years.
Is NCMI a good diversifier for CCAP?
Reasonably. At 0.37, CCAP and NCMI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ccap-vs-ncmi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccap-vs-ncmi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CCAP correlations · NCMI correlations
