GBDC vs MFIC: Correlation
How closely do Golub Capital BDC, Inc. - Closed End Fund (GBDC) and MidCap Financial Investment Corporation - Closed End Fund (MFIC) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GBDC and MFIC?
On 3 years of weekly data the GBDC/MFIC correlation comes out at 0.64, strong. Lately the two have drifted apart, with the 1-year correlation at 0.53 versus 0.64 over 3 years. The 5-year figure is 0.65, and annualized covariance runs at 210.9 %².
By 3-year correlation, MFIC places #8 of the 17 assets tracked against GBDC. The last year tells two different stories: GBDC led by 16.5 percentage points, -1.2% for GBDC 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.
GBDC vs MFIC: side by side
| GBDC (Golub Capital BDC, Inc. - Closed End Fund) | MFIC (MidCap Financial Investment Corporation - Closed End Fund) | |
|---|---|---|
| 1-year return | -1.2% | -17.7% |
| 5-year return | +39.0% | +29.0% |
| Volatility (ann.) | 15.8% | 20.8% |
| Beta vs S&P 500 | 0.47 | 0.57 |
| Max drawdown (3Y) | -18.2% | -27.0% |
| Market cap | $3.4B | $0.8B |
| P/E (trailing) | 19.8 | – |
| Dividend yield | 10.98% | 14.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GBDC | MFIC |
|---|---|---|
| 2022 | -7.0% | +0.2% |
| 2023 | +27.7% | +35.5% |
| 2024 | +13.6% | +11.2% |
| 2025 | -0.5% | -4.3% |
| 2026 | +1.5% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GBDC and MFIC good diversifiers for each other?
To a limited degree. At 0.64 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 GBDC and MFIC?
As of 2026-08-27, the correlation of weekly returns between GBDC and MFIC is 0.64 over 3 years, 0.53 over 1 year and 0.65 over 5 years.
Is MFIC a good diversifier for GBDC?
To a limited degree. At 0.64 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 0.64 mean?
A reading of 0.64 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/gbdc-vs-mfic.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gbdc-vs-mfic/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GBDC correlations · MFIC correlations
