RWAY vs TPVG: Correlation
How closely do Runway Growth Finance Corp. (RWAY) and TriplePoint Venture Growth BDC Corp. (TPVG) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RWAY and TPVG?
Over the past 3 years, RWAY and TPVG moved with a correlation of 0.62, which is strong. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 611.3 %².
By 3-year correlation, TPVG places #5 of the 13 assets tracked against RWAY. The last year tells two different stories: TPVG led by 22.1 percentage points, -27.2% for RWAY against -5.1% for TPVG.
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.
RWAY vs TPVG: side by side
| RWAY (Runway Growth Finance Corp.) | TPVG (TriplePoint Venture Growth BDC Corp.) | |
|---|---|---|
| 1-year return | -27.2% | -5.1% |
| 5-year return | +2.3% | -31.0% |
| Volatility (ann.) | 29.4% | 33.8% |
| Beta vs S&P 500 | 0.69 | 1.06 |
| Max drawdown (3Y) | -45.3% | -43.4% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | 27.4 | 5.4 |
| Dividend yield | 20.21% | 17.29% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RWAY | TPVG |
|---|---|---|
| 2022 | -0.6% | -34.7% |
| 2023 | +25.7% | +20.3% |
| 2024 | +1.7% | -20.0% |
| 2025 | -6.6% | +3.9% |
| 2026 | -15.0% | -10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RWAY and TPVG good diversifiers for each other?
Only partially. A correlation of 0.62 means RWAY and TPVG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between RWAY and TPVG?
The RWAY/TPVG correlation stands at 0.62 on a 3-year window (1 year: 0.66, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is TPVG a good diversifier for RWAY?
Only partially. A correlation of 0.62 means RWAY and TPVG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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/rway-vs-tpvg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rway-vs-tpvg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RWAY correlations · TPVG correlations
