MFIC vs XWEL: Correlation
Measured on weekly returns over the past three years, MidCap Financial Investment Corporation - Closed End Fund (MFIC) and XWELL, Inc. (XWEL) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MFIC and XWEL?
On 3 years of weekly data the MFIC/XWEL correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.57) runs below the 3-year figure (-0.32). The 5-year figure is -0.18, and annualized covariance runs at -1259.0 %².
Among the 11 assets we track against MFIC, XWEL sits near the bottom by co-movement, at rank #9. On 12-month performance XWEL holds a 10.2-point edge, -17.7% against -7.5%. Risk is not evenly split, since XWEL carries 9.1 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.
MFIC vs XWEL: side by side
| MFIC (MidCap Financial Investment Corporation - Closed End Fund) | XWEL (XWELL, Inc.) | |
|---|---|---|
| 1-year return | -17.7% | -7.5% |
| 5-year return | +29.0% | -97.2% |
| Volatility (ann.) | 20.8% | 188.4% |
| Beta vs S&P 500 | 0.57 | 0.41 |
| Max drawdown (3Y) | -27.0% | -92.8% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 14.32% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MFIC | XWEL |
|---|---|---|
| 2022 | +0.2% | -82.2% |
| 2023 | +35.5% | -75.8% |
| 2024 | +11.2% | -13.2% |
| 2025 | -4.3% | -69.5% |
| 2026 | -9.9% | +115.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MFIC and XWEL good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MFIC and XWEL?
As of 2026-08-27, the correlation of weekly returns between MFIC and XWEL is -0.32 over 3 years, -0.57 over 1 year and -0.18 over 5 years.
Is XWEL a good diversifier for MFIC?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 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/mfic-vs-xwel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mfic-vs-xwel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MFIC correlations · XWEL correlations
