RAND vs. GAIN

Last updated Jun 4, 2026

RAND (Rand Capital Corporation) and GAIN (Gladstone Investment Corporation) are both stocks. Both operate in the Asset Management industry within the Financial Services sector. Over the past 10 years, RAND returned 1.78%/yr vs 19.44%/yr for GAIN. At a 0.03 correlation, their price movements are largely independent.

Performance

RAND vs. GAIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rand Capital Corporation (RAND) and Gladstone Investment Corporation (GAIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RAND achieves a -3.65% return, which is significantly lower than GAIN's 14.45% return. Over the past 10 years, RAND has underperformed GAIN with an annualized return of 1.78%, while GAIN has yielded a comparatively higher 19.44% annualized return.

RAND

• 1D: -2.86%
• 1M: -1.09%
• YTD: -3.65%
• 6M: -18.90%
• 1Y: -22.22%
• 3Y*: 8.26%
• 5Y*: 0.07%
• 10Y*: 1.78%

GAIN

• 1D: -2.81%
• 1M: -7.09%
• YTD: 14.45%
• 6M: 15.36%
• 1Y: 13.60%
• 3Y*: 20.65%
• 5Y*: 13.29%
• 10Y*: 19.44%

*Multi-year figures are annualized to reflect compound growth (CAGR)

RAND vs. GAIN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RAND Rand Capital Corporation	-3.65%	-34.86%	91.43%	7.45%	-17.05%	-0.95%	69.87%	7.20%	-17.22%	-4.43%
GAIN Gladstone Investment Corporation	14.45%	17.11%	5.33%	31.01%	-17.55%	82.14%	-16.56%	53.31%	-9.67%	44.63%

Correlation

The correlation between RAND and GAIN is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Jun 24, 2005	0.03

Fundamentals

EPS RAND : -$2.81 GAIN : $3.40
Total Revenue (TTM) RAND : -$3.23M GAIN : $112.66M
Gross Profit (TTM) RAND : -$4.74M GAIN : $80.66M
EBITDA (TTM) RAND : -$6.47M GAIN : $57.95M

Return for Risk

RAND vs. GAIN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RAND

RAND Risk / Return Rank: 22
RAND Sharpe Ratio Rank: 20
RAND Sortino Ratio Rank: 21
RAND Omega Ratio Rank: 20
RAND Calmar Ratio Rank: 23
RAND Martin Ratio Rank: 26

GAIN

GAIN Risk / Return Rank: 64
GAIN Sharpe Ratio Rank: 64
GAIN Sortino Ratio Rank: 56
GAIN Omega Ratio Rank: 56
GAIN Calmar Ratio Rank: 70
GAIN Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RAND vs. GAIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rand Capital Corporation (RAND) and Gladstone Investment Corporation (GAIN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	RAND	GAIN	Difference
Sharpe ratio Return per unit of total volatility	-0.50	0.72	-1.22
Sortino ratio Return per unit of downside risk	-0.45	1.12	-1.57
Omega ratio Gain probability vs. loss probability	0.94	1.15	-0.21
Calmar ratio Return relative to maximum drawdown	-0.52	1.68	-2.20
Martin ratio Return relative to average drawdown	-0.79	5.20	-5.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RAND vs. GAIN - Sharpe Ratio Comparison

The current RAND Sharpe Ratio is -0.50, which is lower than the GAIN Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of RAND and GAIN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RAND	GAIN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.50	0.72	-1.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.60	-0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.04	0.76	-0.72
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.25	-0.26

Drawdowns

RAND vs. GAIN - Drawdown Comparison

The maximum RAND drawdown since its inception was -89.66%, which is greater than GAIN's maximum drawdown of -80.87%. Use the drawdown chart below to compare losses from any high point for RAND and GAIN.

Drawdown Indicators

	RAND	GAIN	Difference
Max Drawdown Largest peak-to-trough decline	-89.66%	-80.87%	-8.79%
Max Drawdown (1Y) Largest decline over 1 year	-42.76%	-8.12%	-34.64%
Max Drawdown (3Y) Largest decline over 3 years	-60.11%	-14.76%	-45.35%
Max Drawdown (5Y) Largest decline over 5 years	-60.11%	-26.26%	-33.85%
Max Drawdown (10Y) Largest decline over 10 years	-60.11%	-56.28%	-3.83%
Current Drawdown Current decline from peak	-57.61%	-8.02%	-49.59%
Average Drawdown Average peak-to-trough decline	-67.71%	-15.92%	-51.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.32%	2.90%	+25.42%

Volatility

RAND vs. GAIN - Volatility Comparison

Rand Capital Corporation (RAND) has a higher volatility of 13.33% compared to Gladstone Investment Corporation (GAIN) at 11.06%. This indicates that RAND's price experiences larger fluctuations and is considered to be riskier than GAIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RAND	GAIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.33%	11.06%	+2.27%
Volatility (6M) Calculated over the trailing 6-month period	37.31%	16.08%	+21.23%
Volatility (1Y) Calculated over the trailing 1-year period	44.53%	18.90%	+25.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.50%	22.32%	+20.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.62%	25.67%	+20.95%

Dividends

RAND vs. GAIN - Dividend Comparison

RAND's dividend yield for the trailing twelve months is around 16.51%, more than GAIN's 9.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAIN Gladstone Investment Corporation	9.64%	10.74%	12.53%	17.24%	9.88%	6.06%	9.22%	7.06%	9.24%	7.94%	8.87%	9.68%
RAND Rand Capital Corporation	16.51%	15.15%	26.13%	10.24%	6.23%	2.59%	90.40%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both RAND and GAIN in my portfolio?

RAND and GAIN have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RAND or GAIN?

RAND has higher volatility (13.33%) compared to GAIN (11.06%). In terms of maximum drawdown, RAND dropped -89.66% vs GAIN's -80.87%.

Which has better risk-adjusted returns?

GAIN currently has the higher Sharpe Ratio (0.72 vs -0.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.