ARDC vs BGX: Correlation
Measured on weekly returns over the past three years, Ares Dynamic Credit Allocation Fund, Inc. (ARDC) and Blackstone Long Short Credit Income Fund (BGX) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDC and BGX?
Over the past 3 years, ARDC and BGX moved with a correlation of 0.73, which is strong. Little has changed lately, as the 1-year reading of 0.76 lands near the 3-year figure. Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 89.8 %².
BGX is one of the assets that tracks ARDC most closely: it ranks #1 out of the 12 assets we track against ARDC. Their 12-month results are close: -6.2% for ARDC against -6.6% for BGX.
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.
ARDC vs BGX: side by side
| ARDC (Ares Dynamic Credit Allocation Fund, Inc.) | BGX (Blackstone Long Short Credit Income Fund) | |
|---|---|---|
| 1-year return | -6.2% | -6.6% |
| 5-year return | +23.0% | +15.1% |
| Volatility (ann.) | 12.3% | 10.0% |
| Beta vs S&P 500 | 0.49 | 0.39 |
| Max drawdown (3Y) | -19.8% | -14.1% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | 12.8 | 15.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARDC | BGX |
|---|---|---|
| 2022 | -22.2% | -20.6% |
| 2023 | +32.4% | +18.9% |
| 2024 | +21.1% | +19.8% |
| 2025 | -3.1% | +2.1% |
| 2026 | -0.8% | -3.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDC and BGX good diversifiers for each other?
To a limited degree. At 0.73 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 ARDC and BGX?
Using weekly returns as of 2026-08-27: 0.73 over 3 years, with 0.76 over the last year and 0.72 over 5 years.
Is BGX a good diversifier for ARDC?
To a limited degree. At 0.73 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 0.73 mean?
A reading of 0.73 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ardc-vs-bgx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ardc-vs-bgx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARDC correlations · BGX correlations
