TCPC vs TPVG: Correlation
How closely do BlackRock TCP Capital Corp. - Closed End Fund (TCPC) and TriplePoint Venture Growth BDC Corp. (TPVG) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TCPC and TPVG?
Over the past 3 years, TCPC and TPVG moved with a correlation of 0.70, which is strong. The relationship has been stable: the 1-year correlation (0.78) sits close to the 3-year figure. Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 785.8 %².
Within TCPC's tracked universe of 18 assets, TPVG comes in at #5 by 3-year correlation. The last year tells two different stories: TPVG led by 25.6 percentage points, -30.7% for TCPC 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.
TCPC vs TPVG: side by side
| TCPC (BlackRock TCP Capital Corp. - Closed End Fund) | TPVG (TriplePoint Venture Growth BDC Corp.) | |
|---|---|---|
| 1-year return | -30.7% | -5.1% |
| 5-year return | -42.1% | -31.0% |
| Volatility (ann.) | 33.1% | 33.8% |
| Beta vs S&P 500 | 0.94 | 1.06 |
| Max drawdown (3Y) | -60.8% | -43.4% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | – | 5.4 |
| Dividend yield | 20.34% | 17.29% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TCPC | TPVG |
|---|---|---|
| 2022 | +5.6% | -34.7% |
| 2023 | +3.2% | +20.3% |
| 2024 | -12.3% | -20.0% |
| 2025 | -26.2% | +3.9% |
| 2026 | -16.9% | -10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TCPC and TPVG good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between TCPC and TPVG?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.78 over the last year and 0.60 over 5 years.
Is TPVG a good diversifier for TCPC?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 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/tcpc-vs-tpvg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/tcpc-vs-tpvg/)
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Related comparisons
Hubs: TCPC correlations · TPVG correlations
