NMFC vs TPVG: Correlation
How closely do New Mountain Finance Corporation (NMFC) and TriplePoint Venture Growth BDC Corp. (TPVG) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NMFC and TPVG?
Across a 3-year window, the weekly returns of NMFC and TPVG correlate at 0.67, strong. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. Stretching to 5 years gives 0.68, with an annualized covariance of 447.0 %².
Within NMFC's tracked universe of 22 assets, TPVG comes in at #9 by 3-year correlation. On 12-month performance TPVG holds a 11.0-point edge, -16.1% against -5.1%. Risk is not evenly split, since TPVG carries 1.7 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.
NMFC vs TPVG: side by side
| NMFC (New Mountain Finance Corporation) | TPVG (TriplePoint Venture Growth BDC Corp.) | |
|---|---|---|
| 1-year return | -16.1% | -5.1% |
| 5-year return | +1.4% | -31.0% |
| Volatility (ann.) | 19.7% | 33.8% |
| Beta vs S&P 500 | 0.53 | 1.06 |
| Max drawdown (3Y) | -30.6% | -43.4% |
| Market cap | $0.7B | $0.2B |
| P/E (trailing) | – | 5.4 |
| Dividend yield | 15.98% | 17.29% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NMFC | TPVG |
|---|---|---|
| 2022 | -0.6% | -34.7% |
| 2023 | +15.8% | +20.3% |
| 2024 | -0.9% | -20.0% |
| 2025 | -7.2% | +3.9% |
| 2026 | -10.9% | -10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NMFC and TPVG good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NMFC and TPVG?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.77 over the last year and 0.68 over 5 years.
Is TPVG a good diversifier for NMFC?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 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/nmfc-vs-tpvg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nmfc-vs-tpvg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NMFC correlations · TPVG correlations
