ICMB vs OFS: Correlation
Investcorp Credit Management BDC, Inc. (ICMB) and OFS Capital Corporation - Closed End Fund (OFS) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICMB and OFS?
Across a 3-year window, the weekly returns of ICMB and OFS correlate at 0.38, moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 579.1 %².
Within ICMB's tracked universe of 13 assets, OFS comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months OFS outperformed by 20.6 percentage points (-68.0% for ICMB against -47.4% for OFS).
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 OFS: side by side
| ICMB (Investcorp Credit Management BDC, Inc.) | OFS (OFS Capital Corporation - Closed End Fund) | |
|---|---|---|
| 1-year return | -68.0% | -47.4% |
| 5-year return | -68.9% | -31.5% |
| Volatility (ann.) | 44.6% | 34.0% |
| Beta vs S&P 500 | 0.46 | 0.69 |
| Max drawdown (3Y) | -75.5% | -67.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 28.76% | 23.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICMB | OFS |
|---|---|---|
| 2022 | -19.0% | +3.3% |
| 2023 | +19.0% | +29.9% |
| 2024 | +0.7% | -20.2% |
| 2025 | +5.9% | -31.6% |
| 2026 | -68.7% | -14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICMB and OFS good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ICMB and OFS?
As of 2026-08-27, the correlation of weekly returns between ICMB and OFS is 0.38 over 3 years, 0.38 over 1 year and 0.35 over 5 years.
Is OFS a good diversifier for ICMB?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ICMB correlations · OFS correlations
