FDUS vs GBDC: Correlation
How closely do Fidus Investment Corporation - Closed End Fund (FDUS) and Golub Capital BDC, Inc. - Closed End Fund (GBDC) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDUS and GBDC?
Over the past 3 years, FDUS and GBDC moved with a correlation of 0.70, which is strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.70 over 3. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 194.1 %².
Within FDUS's tracked universe of 21 assets, GBDC comes in at #5 by 3-year correlation. Their 12-month results are close: +3.7% for FDUS against -1.2% for GBDC.
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.
FDUS vs GBDC: side by side
| FDUS (Fidus Investment Corporation - Closed End Fund) | GBDC (Golub Capital BDC, Inc. - Closed End Fund) | |
|---|---|---|
| 1-year return | +3.7% | -1.2% |
| 5-year return | +100.3% | +39.0% |
| Volatility (ann.) | 17.5% | 15.8% |
| Beta vs S&P 500 | 0.57 | 0.47 |
| Max drawdown (3Y) | -23.9% | -18.2% |
| Market cap | $0.7B | $3.4B |
| P/E (trailing) | 9.5 | 19.8 |
| Dividend yield | 8.73% | 10.98% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FDUS | GBDC |
|---|---|---|
| 2022 | +17.1% | -7.0% |
| 2023 | +20.0% | +27.7% |
| 2024 | +20.5% | +13.6% |
| 2025 | +2.1% | -0.5% |
| 2026 | +8.9% | +1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDUS and GBDC good diversifiers for each other?
Only partially. A correlation of 0.70 means FDUS and GBDC 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 FDUS and GBDC?
The FDUS/GBDC correlation stands at 0.70 on a 3-year window (1 year: 0.63, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is GBDC a good diversifier for FDUS?
Only partially. A correlation of 0.70 means FDUS and GBDC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 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/fdus-vs-gbdc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fdus-vs-gbdc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FDUS correlations · GBDC correlations
