OFS vs SCM: Correlation
How closely do OFS Capital Corporation - Closed End Fund (OFS) and Stellus Capital Investment Corporation (SCM) 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 OFS and SCM?
Across a 3-year window, the weekly returns of OFS and SCM correlate at 0.41, moderate. The past 12 months show a tighter link (0.54) than the 3-year average (0.41). Stretching to 5 years gives 0.40, with an annualized covariance of 339.0 %².
In OFS's tracked universe of 13 assets, SCM sits right near the top at #3. On 12-month performance SCM holds a 14.7-point edge, -47.4% against -32.7%.
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.
OFS vs SCM: side by side
| OFS (OFS Capital Corporation - Closed End Fund) | SCM (Stellus Capital Investment Corporation) | |
|---|---|---|
| 1-year return | -47.4% | -32.7% |
| 5-year return | -31.5% | +16.7% |
| Volatility (ann.) | 34.0% | 24.4% |
| Beta vs S&P 500 | 0.69 | 0.68 |
| Max drawdown (3Y) | -67.0% | -47.8% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 8.4 |
| Dividend yield | 23.22% | 17.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OFS | SCM |
|---|---|---|
| 2022 | +3.3% | +12.9% |
| 2023 | +29.9% | +8.7% |
| 2024 | -20.2% | +20.3% |
| 2025 | -31.6% | +3.7% |
| 2026 | -14.3% | -26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OFS and SCM 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 OFS and SCM?
The OFS/SCM correlation stands at 0.41 on a 3-year window (1 year: 0.54, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is SCM a good diversifier for OFS?
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?
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/ofs-vs-scm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ofs-vs-scm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OFS correlations · SCM correlations
