FDUS vs TRIN: Correlation
Measured on weekly returns over the past three years, Fidus Investment Corporation - Closed End Fund (FDUS) and Trinity Capital Inc. (TRIN) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDUS and TRIN?
Over the past 3 years, FDUS and TRIN moved with a correlation of 0.69, which is strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.69 over 3. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 225.1 %².
Among the 21 assets we track against FDUS, TRIN ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TRIN outperformed by 31.9 percentage points (+3.7% for FDUS against +35.6% for TRIN).
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 TRIN: side by side
| FDUS (Fidus Investment Corporation - Closed End Fund) | TRIN (Trinity Capital Inc.) | |
|---|---|---|
| 1-year return | +3.7% | +35.6% |
| 5-year return | +100.3% | +139.8% |
| Volatility (ann.) | 17.5% | 18.5% |
| Beta vs S&P 500 | 0.57 | 0.56 |
| Max drawdown (3Y) | -23.9% | -15.6% |
| Market cap | $0.7B | $1.7B |
| P/E (trailing) | 9.5 | 10.7 |
| Dividend yield | 8.73% | 10.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FDUS | TRIN |
|---|---|---|
| 2022 | +17.1% | -26.6% |
| 2023 | +20.0% | +54.0% |
| 2024 | +20.5% | +14.8% |
| 2025 | +2.1% | +16.0% |
| 2026 | +8.9% | +38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDUS and TRIN good diversifiers for each other?
To a limited degree. At 0.69 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 TRIN?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.68 over the last year and 0.52 over 5 years.
Is TRIN a good diversifier for FDUS?
To a limited degree. At 0.69 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 0.69 mean?
On the −1 to +1 scale, 0.69 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
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Related comparisons
Hubs: FDUS correlations · TRIN correlations
