CSWC vs MAIN: Correlation
Measured on weekly returns over the past three years, Capital Southwest Corporation (CSWC) and Main Street Capital Corporation (MAIN) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSWC and MAIN?
On 3 years of weekly data the CSWC/MAIN correlation comes out at 0.72, strong. The relationship has been stable: the 1-year correlation (0.78) sits close to the 3-year figure. The 5-year figure is 0.69, and annualized covariance runs at 281.5 %².
Within CSWC's tracked universe of 17 assets, MAIN comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CSWC ahead by 28.0 points (+25.5% versus -2.5%).
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 MAIN: side by side
| CSWC (Capital Southwest Corporation) | MAIN (Main Street Capital Corporation) | |
|---|---|---|
| 1-year return | +25.5% | -2.5% |
| 5-year return | +72.3% | +106.5% |
| Volatility (ann.) | 20.0% | 19.6% |
| Beta vs S&P 500 | 0.64 | 0.69 |
| Max drawdown (3Y) | -27.7% | -22.4% |
| Market cap | $1.6B | $5.5B |
| P/E (trailing) | 14.0 | 11.7 |
| Dividend yield | 9.20% | 5.29% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSWC | MAIN |
|---|---|---|
| 2022 | -24.4% | -11.4% |
| 2023 | +56.1% | +28.2% |
| 2024 | +2.1% | +47.3% |
| 2025 | +14.3% | +10.7% |
| 2026 | +23.1% | +1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSWC and MAIN good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CSWC and MAIN?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.78 over the last year and 0.69 over 5 years.
Is MAIN a good diversifier for CSWC?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 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/cswc-vs-main.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cswc-vs-main/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CSWC correlations · MAIN correlations
