EIC vs OXLC: Correlation
Measured on weekly returns over the past three years, Eagle Point Income Company (EIC) and Oxford Lane Capital Corp. - Closed End Fund (OXLC) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EIC and OXLC?
Over the past 3 years, EIC and OXLC moved with a correlation of 0.44, which is moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 222.9 %².
Within EIC's tracked universe of 12 assets, OXLC comes in at #4 by 3-year correlation. Over the last 12 months EIC came out ahead by 7.2 percentage points (-19.6% against -26.8%). One caveat on sizing: OXLC is 1.6 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.
EIC vs OXLC: side by side
| EIC (Eagle Point Income Company) | OXLC (Oxford Lane Capital Corp. - Closed End Fund) | |
|---|---|---|
| 1-year return | -19.6% | -26.8% |
| 5-year return | +6.9% | -22.9% |
| Volatility (ann.) | 17.5% | 28.7% |
| Beta vs S&P 500 | 0.36 | 0.62 |
| Max drawdown (3Y) | -34.1% | -57.2% |
| Market cap | $0.2B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 14.30% | 53.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EIC | OXLC |
|---|---|---|
| 2022 | -10.5% | -24.1% |
| 2023 | +20.9% | +16.5% |
| 2024 | +24.0% | +24.6% |
| 2025 | -15.3% | -24.4% |
| 2026 | -7.3% | -17.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EIC and OXLC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EIC and OXLC?
As of 2026-08-27, the correlation of weekly returns between EIC and OXLC is 0.44 over 3 years, 0.50 over 1 year and 0.28 over 5 years.
Is OXLC a good diversifier for EIC?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eic-vs-oxlc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eic-vs-oxlc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EIC correlations · OXLC correlations
