CSWC vs GLAD: Correlation
Capital Southwest Corporation (CSWC) and Gl (GLAD) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSWC and GLAD?
On 3 years of weekly data the CSWC/GLAD correlation comes out at 0.68, strong. Recent behaviour matches the longer record: 0.73 over 1 year against 0.68 over 3. The 5-year figure is 0.66, and annualized covariance runs at 308.5 %².
Within CSWC's tracked universe of 17 assets, GLAD comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CSWC outperformed by 42.2 percentage points (+25.5% for CSWC against -16.7% for GLAD).
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 GLAD: side by side
| CSWC (Capital Southwest Corporation) | GLAD (Gl) | |
|---|---|---|
| 1-year return | +25.5% | -16.7% |
| 5-year return | +72.3% | +32.9% |
| Volatility (ann.) | 20.0% | 22.7% |
| Beta vs S&P 500 | 0.64 | 0.75 |
| Max drawdown (3Y) | -27.7% | -39.6% |
| Market cap | $1.6B | $0.4B |
| P/E (trailing) | 14.0 | 9.3 |
| Dividend yield | 9.20% | 9.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSWC | GLAD |
|---|---|---|
| 2022 | -24.4% | -10.4% |
| 2023 | +56.1% | +22.7% |
| 2024 | +2.1% | +47.0% |
| 2025 | +14.3% | -21.1% |
| 2026 | +23.1% | +2.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSWC and GLAD good diversifiers for each other?
Only partially. A correlation of 0.68 means CSWC and GLAD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CSWC and GLAD?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.73 over the last year and 0.66 over 5 years.
Is GLAD a good diversifier for CSWC?
Only partially. A correlation of 0.68 means CSWC and GLAD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
A reading of 0.68 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-glad.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cswc-vs-glad/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CSWC correlations · GLAD correlations
