CION vs PSBD: Correlation
Measured on weekly returns over the past three years, CION Investment Corporation (CION) and Palmer Square Capital BDC Inc. (PSBD) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CION and PSBD?
Across a 3-year window, the weekly returns of CION and PSBD correlate at 0.55, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.68 versus 0.55 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 309.9 %².
Within CION's tracked universe of 22 assets, PSBD comes in at #7 by 3-year correlation. Twelve-month performance is nearly a tie, at -17.7% for CION and -14.3% for PSBD. One caveat on sizing: CION is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 PSBD: side by side
| CION (CION Investment Corporation) | PSBD (Palmer Square Capital BDC Inc.) | |
|---|---|---|
| 1-year return | -17.7% | -14.3% |
| 5-year return | +26.2% | n/a |
| Volatility (ann.) | 30.2% | 17.8% |
| Beta vs S&P 500 | 0.86 | 0.46 |
| Max drawdown (3Y) | -40.3% | -28.9% |
| Market cap | $0.4B | $0.3B |
| P/E (trailing) | 123.5 | – |
| Dividend yield | 17.98% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CION | PSBD |
|---|---|---|
| 2022 | -14.8% | – |
| 2023 | +35.4% | – |
| 2024 | +14.8% | – |
| 2025 | -2.3% | -9.0% |
| 2026 | -14.6% | -9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CION and PSBD good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CION and PSBD?
The CION/PSBD correlation stands at 0.55 on a 3-year window (1 year: 0.68, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PSBD a good diversifier for CION?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cion-vs-psbd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cion-vs-psbd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CION correlations · PSBD correlations
