FDUS vs MFIC: Correlation
Fidus Investment Corporation - Closed End Fund (FDUS) and MidCap Financial Investment Corporation - Closed End Fund (MFIC) 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 FDUS and MFIC?
On 3 years of weekly data the FDUS/MFIC correlation comes out at 0.68, strong. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. The 5-year figure is 0.70, and annualized covariance runs at 246.4 %².
Within FDUS's tracked universe of 21 assets, MFIC comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FDUS outperformed by 21.4 percentage points (+3.7% for FDUS against -17.7% for MFIC).
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 MFIC: side by side
| FDUS (Fidus Investment Corporation - Closed End Fund) | MFIC (MidCap Financial Investment Corporation - Closed End Fund) | |
|---|---|---|
| 1-year return | +3.7% | -17.7% |
| 5-year return | +100.3% | +29.0% |
| Volatility (ann.) | 17.5% | 20.8% |
| Beta vs S&P 500 | 0.57 | 0.57 |
| Max drawdown (3Y) | -23.9% | -27.0% |
| Market cap | $0.7B | $0.8B |
| P/E (trailing) | 9.5 | – |
| Dividend yield | 8.73% | 14.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FDUS | MFIC |
|---|---|---|
| 2022 | +17.1% | +0.2% |
| 2023 | +20.0% | +35.5% |
| 2024 | +20.5% | +11.2% |
| 2025 | +2.1% | -4.3% |
| 2026 | +8.9% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDUS and MFIC good diversifiers for each other?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FDUS and MFIC?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.60 over the last year and 0.70 over 5 years.
Is MFIC a good diversifier for FDUS?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
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/fdus-vs-mfic.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fdus-vs-mfic/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FDUS correlations · MFIC correlations
