KBDC vs NMFC: Correlation
Measured on weekly returns over the past three years, Kayne Anderson BDC, Inc. (KBDC) and New Mountain Finance Corporation (NMFC) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KBDC and NMFC?
Across a 3-year window, the weekly returns of KBDC and NMFC correlate at 0.65, strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 223.4 %².
Among the 13 assets we track against KBDC, NMFC ranks #4 by 3-year correlation. The last year tells two different stories: KBDC led by 17.0 percentage points, +0.9% for KBDC against -16.1% for NMFC.
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.
KBDC vs NMFC: side by side
| KBDC (Kayne Anderson BDC, Inc.) | NMFC (New Mountain Finance Corporation) | |
|---|---|---|
| 1-year return | +0.9% | -16.1% |
| 5-year return | n/a | +1.4% |
| Volatility (ann.) | 15.7% | 19.7% |
| Beta vs S&P 500 | 0.39 | 0.53 |
| Max drawdown (3Y) | -19.6% | -30.6% |
| Market cap | $0.9B | $0.7B |
| P/E (trailing) | 12.4 | – |
| Dividend yield | 0.00% | 15.98% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KBDC | NMFC |
|---|---|---|
| 2022 | – | -0.6% |
| 2023 | – | +15.8% |
| 2024 | – | -0.9% |
| 2025 | -2.4% | -7.2% |
| 2026 | -0.1% | -10.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KBDC and NMFC good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KBDC and NMFC?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.69 over the last year and n/a over 5 years.
Is NMFC a good diversifier for KBDC?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
A reading of 0.65 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/kbdc-vs-nmfc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kbdc-vs-nmfc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KBDC correlations · NMFC correlations
