KBDC vs NYAX: Correlation
Measured on weekly returns over the past three years, Kayne Anderson BDC, Inc. (KBDC) and Nayax Ltd. (NYAX) carry a correlation of 0.32, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KBDC and NYAX?
Across a 3-year window, the weekly returns of KBDC and NYAX correlate at 0.32, moderate. The past 12 months show a tighter link (0.44) than the 3-year average (0.32). Stretching to 5 years gives n/a, with an annualized covariance of 227.0 %².
Within KBDC's tracked universe of 13 assets, NYAX comes in at #8 by 3-year correlation. On 12-month performance NYAX holds a 8.5-point edge, +0.9% against +9.4%. Note the risk asymmetry: NYAX runs 3.1 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.
KBDC vs NYAX: side by side
| KBDC (Kayne Anderson BDC, Inc.) | NYAX (Nayax Ltd.) | |
|---|---|---|
| 1-year return | +0.9% | +9.4% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 15.7% | 48.8% |
| Beta vs S&P 500 | 0.39 | 0.48 |
| Max drawdown (3Y) | -19.6% | -39.1% |
| Market cap | $0.9B | $2.0B |
| P/E (trailing) | 12.4 | 261.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KBDC | NYAX |
|---|---|---|
| 2023 | – | -3.3% |
| 2024 | – | +53.1% |
| 2025 | -2.4% | +73.5% |
| 2026 | -0.1% | +3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KBDC and NYAX good diversifiers for each other?
Reasonably. At 0.32, KBDC and NYAX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between KBDC and NYAX?
The KBDC/NYAX correlation stands at 0.32 on a 3-year window (1 year: 0.44, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NYAX a good diversifier for KBDC?
Reasonably. At 0.32, KBDC and NYAX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.32 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kbdc-vs-nyax.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kbdc-vs-nyax/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KBDC correlations · NYAX correlations
