CSWC vs GAIN: Correlation
Measured on weekly returns over the past three years, Capital Southwest Corporation (CSWC) and Gl (GAIN) 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 CSWC and GAIN?
Over the past 3 years, CSWC and GAIN moved with a correlation of 0.55, which is moderate. Recent behaviour matches the longer record: 0.63 over 1 year against 0.55 over 3. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 220.3 %².
Among the 17 assets we track against CSWC, GAIN ranks #7 by 3-year correlation. Twelve-month performance is nearly a tie, at +25.5% for CSWC and +24.9% for GAIN.
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.
CSWC vs GAIN: side by side
| CSWC (Capital Southwest Corporation) | GAIN (Gl) | |
|---|---|---|
| 1-year return | +25.5% | +24.9% |
| 5-year return | +72.3% | +92.6% |
| Volatility (ann.) | 20.0% | 20.1% |
| Beta vs S&P 500 | 0.64 | 0.61 |
| Max drawdown (3Y) | -27.7% | -14.8% |
| Market cap | $1.6B | – |
| P/E (trailing) | 14.0 | 3.8 |
| Dividend yield | 9.20% | 5.86% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSWC | GAIN |
|---|---|---|
| 2022 | -24.4% | -17.5% |
| 2023 | +56.1% | +31.0% |
| 2024 | +2.1% | +5.3% |
| 2025 | +14.3% | +17.1% |
| 2026 | +23.1% | +22.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSWC and GAIN 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 CSWC and GAIN?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.63 over the last year and 0.61 over 5 years.
Is GAIN a good diversifier for CSWC?
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?
A reading of 0.55 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/cswc-vs-gain.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cswc-vs-gain/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CSWC correlations · GAIN correlations
