CION vs GSBD: Correlation
Measured on weekly returns over the past three years, CION Investment Corporation (CION) and Goldman Sachs BDC, Inc. (GSBD) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CION and GSBD?
Across a 3-year window, the weekly returns of CION and GSBD correlate at 0.66, strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. Stretching to 5 years gives 0.59, with an annualized covariance of 415.7 %².
By 3-year correlation, GSBD places #5 of the 22 assets tracked against CION. The last year tells two different stories: GSBD led by 22.0 percentage points, -17.7% for CION against +4.3% for GSBD.
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.
CION vs GSBD: side by side
| CION (CION Investment Corporation) | GSBD (Goldman Sachs BDC, Inc.) | |
|---|---|---|
| 1-year return | -17.7% | +4.3% |
| 5-year return | +26.2% | +1.8% |
| Volatility (ann.) | 30.2% | 20.9% |
| Beta vs S&P 500 | 0.86 | 0.62 |
| Max drawdown (3Y) | -40.3% | -29.6% |
| Market cap | $0.4B | $1.1B |
| P/E (trailing) | 123.5 | 19.1 |
| Dividend yield | 17.98% | 12.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CION | GSBD |
|---|---|---|
| 2022 | -14.8% | -20.1% |
| 2023 | +35.4% | +21.0% |
| 2024 | +14.8% | -6.2% |
| 2025 | -2.3% | -8.8% |
| 2026 | -14.6% | +17.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CION and GSBD good diversifiers for each other?
To a limited degree. At 0.66 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 CION and GSBD?
As of 2026-08-27, the correlation of weekly returns between CION and GSBD is 0.66 over 3 years, 0.71 over 1 year and 0.59 over 5 years.
Is GSBD a good diversifier for CION?
To a limited degree. At 0.66 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 0.66 mean?
A reading of 0.66 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/cion-vs-gsbd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cion-vs-gsbd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CION correlations · GSBD correlations
