CGBD vs MNDO: Correlation
How closely do Carlyle Secured Lending, Inc. - Closed End Fund (CGBD) and MIND C.T.I. Ltd. (MNDO) 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 CGBD and MNDO?
Across a 3-year window, the weekly returns of CGBD and MNDO correlate at 0.37, moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 201.2 %².
Within CGBD's tracked universe of 18 assets, MNDO comes in at #13 by 3-year correlation. Over the last 12 months CGBD came out ahead by 11.2 percentage points (-3.9% against -15.1%).
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.
CGBD vs MNDO: side by side
| CGBD (Carlyle Secured Lending, Inc. - Closed End Fund) | MNDO (MIND C.T.I. Ltd.) | |
|---|---|---|
| 1-year return | -3.9% | -15.1% |
| 5-year return | +52.6% | -51.6% |
| Volatility (ann.) | 21.6% | 24.9% |
| Beta vs S&P 500 | 0.67 | 0.32 |
| Max drawdown (3Y) | -35.1% | -54.6% |
| Market cap | $0.8B | – |
| P/E (trailing) | 22.4 | 6.3 |
| Dividend yield | 13.68% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGBD | MNDO |
|---|---|---|
| 2022 | +17.7% | -26.5% |
| 2023 | +18.0% | +4.2% |
| 2024 | +33.5% | +13.1% |
| 2025 | -21.5% | -34.9% |
| 2026 | +0.0% | -12.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGBD and MNDO good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CGBD and MNDO?
The CGBD/MNDO correlation stands at 0.37 on a 3-year window (1 year: 0.40, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is MNDO a good diversifier for CGBD?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/cgbd-vs-mndo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cgbd-vs-mndo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CGBD correlations · MNDO correlations
