BBDC vs OBDC: Correlation
How closely do Barings BDC, Inc. (BBDC) and Blue Owl Capital Corporation (OBDC) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBDC and OBDC?
Across a 3-year window, the weekly returns of BBDC and OBDC correlate at 0.71, strong. Recent behaviour matches the longer record: 0.75 over 1 year against 0.71 over 3. Stretching to 5 years gives 0.70, with an annualized covariance of 264.6 %².
Among the 12 assets we track against BBDC, OBDC ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BBDC ahead by 18.1 points (+7.8% versus -10.3%).
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.
BBDC vs OBDC: side by side
| BBDC (Barings BDC, Inc.) | OBDC (Blue Owl Capital Corporation) | |
|---|---|---|
| 1-year return | +7.8% | -10.3% |
| 5-year return | +50.4% | +34.0% |
| Volatility (ann.) | 19.5% | 19.2% |
| Beta vs S&P 500 | 0.60 | 0.71 |
| Max drawdown (3Y) | -24.5% | -23.9% |
| Market cap | $1.0B | $5.6B |
| P/E (trailing) | 11.4 | 20.1 |
| Dividend yield | 11.12% | 12.62% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBDC | OBDC |
|---|---|---|
| 2022 | -18.6% | -9.5% |
| 2023 | +18.5% | +43.5% |
| 2024 | +23.9% | +14.7% |
| 2025 | +8.8% | -7.9% |
| 2026 | +8.6% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBDC and OBDC good diversifiers for each other?
Only partially. A correlation of 0.71 means BBDC and OBDC 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 BBDC and OBDC?
The BBDC/OBDC correlation stands at 0.71 on a 3-year window (1 year: 0.75, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is OBDC a good diversifier for BBDC?
Only partially. A correlation of 0.71 means BBDC and OBDC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 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/bbdc-vs-obdc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbdc-vs-obdc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BBDC correlations · OBDC correlations
