CCAP vs NMFC: Correlation
How closely do Crescent Capital BDC, Inc. (CCAP) and New Mountain Finance Corporation (NMFC) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCAP and NMFC?
On 3 years of weekly data the CCAP/NMFC correlation comes out at 0.62, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 280.0 %².
By 3-year correlation, NMFC places #5 of the 18 assets tracked against CCAP. On 12-month performance NMFC holds a 6.7-point edge, -22.8% against -16.1%.
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 NMFC: side by side
| CCAP (Crescent Capital BDC, Inc.) | NMFC (New Mountain Finance Corporation) | |
|---|---|---|
| 1-year return | -22.8% | -16.1% |
| 5-year return | +1.5% | +1.4% |
| Volatility (ann.) | 22.9% | 19.7% |
| Beta vs S&P 500 | 0.60 | 0.53 |
| Max drawdown (3Y) | -36.2% | -30.6% |
| Market cap | $0.4B | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 15.14% | 15.98% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCAP | NMFC |
|---|---|---|
| 2022 | -18.5% | -0.6% |
| 2023 | +52.6% | +15.8% |
| 2024 | +23.5% | -0.9% |
| 2025 | -17.5% | -7.2% |
| 2026 | -19.3% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCAP and NMFC good diversifiers for each other?
To a limited degree. At 0.62 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 CCAP and NMFC?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.62 over the last year and 0.56 over 5 years.
Is NMFC a good diversifier for CCAP?
To a limited degree. At 0.62 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 0.62 mean?
On the −1 to +1 scale, 0.62 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/ccap-vs-nmfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccap-vs-nmfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CCAP correlations · NMFC correlations
