ICMB vs PSBD: Correlation
How closely do Investcorp Credit Management BDC, Inc. (ICMB) and Palmer Square Capital BDC Inc. (PSBD) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICMB and PSBD?
On 3 years of weekly data the ICMB/PSBD correlation comes out at 0.41, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.41 over 3. The 5-year figure is n/a, and annualized covariance runs at 337.8 %².
Few assets follow ICMB as closely as PSBD, which ranks #1 of 13 tracked partners. Correlation aside, the last 12 months split them widely, with PSBD ahead by 53.7 points (-68.0% versus -14.3%). Note the risk asymmetry: ICMB runs 2.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 PSBD: side by side
| ICMB (Investcorp Credit Management BDC, Inc.) | PSBD (Palmer Square Capital BDC Inc.) | |
|---|---|---|
| 1-year return | -68.0% | -14.3% |
| 5-year return | -68.9% | n/a |
| Volatility (ann.) | 44.6% | 17.8% |
| Beta vs S&P 500 | 0.46 | 0.46 |
| Max drawdown (3Y) | -75.5% | -28.9% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 28.76% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICMB | PSBD |
|---|---|---|
| 2022 | -19.0% | – |
| 2023 | +19.0% | – |
| 2024 | +0.7% | – |
| 2025 | +5.9% | -9.0% |
| 2026 | -68.7% | -9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICMB and PSBD good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ICMB and PSBD?
As of 2026-08-27, the correlation of weekly returns between ICMB and PSBD is 0.41 over 3 years, 0.48 over 1 year and n/a over 5 years.
Is PSBD a good diversifier for ICMB?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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-psbd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/icmb-vs-psbd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ICMB correlations · PSBD correlations
