ICMB vs MMT: Correlation
Investcorp Credit Management BDC, Inc. (ICMB) and Aberdeen Multi-Market Income Fund (MMT) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICMB and MMT?
Across a 3-year window, the weekly returns of ICMB and MMT correlate at 0.37, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. Stretching to 5 years gives 0.34, with an annualized covariance of 139.3 %².
By 3-year correlation, MMT places #5 of the 13 assets tracked against ICMB. The last year tells two different stories: MMT led by 71.2 percentage points, -68.0% for ICMB against +3.2% for MMT. Risk is not evenly split, since ICMB carries 5.3 times the volatility of the other side.
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.
ICMB vs MMT: side by side
| ICMB (Investcorp Credit Management BDC, Inc.) | MMT (Aberdeen Multi-Market Income Fund) | |
|---|---|---|
| 1-year return | -68.0% | +3.2% |
| 5-year return | -68.9% | +5.0% |
| Volatility (ann.) | 44.6% | 8.4% |
| Beta vs S&P 500 | 0.46 | 0.27 |
| Max drawdown (3Y) | -75.5% | -7.1% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 11.7 |
| Dividend yield | 28.76% | 9.03% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICMB | MMT |
|---|---|---|
| 2022 | -19.0% | -23.0% |
| 2023 | +19.0% | +10.1% |
| 2024 | +0.7% | +12.5% |
| 2025 | +5.9% | +8.1% |
| 2026 | -68.7% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICMB and MMT good diversifiers for each other?
Reasonably. At 0.37, ICMB and MMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ICMB and MMT?
The ICMB/MMT correlation stands at 0.37 on a 3-year window (1 year: 0.46, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is MMT a good diversifier for ICMB?
Reasonably. At 0.37, ICMB and MMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/icmb-vs-mmt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/icmb-vs-mmt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ICMB correlations · MMT correlations
