BDCZ vs BXSL: Correlation
Measured on weekly returns over the past three years, ETRACS MarketVector Business Development Companies Liquid (BDCZ) and Blackstone Secured Lending Fund (BXSL) carry a correlation of 0.82, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDCZ and BXSL?
Across a 3-year window, the weekly returns of BDCZ and BXSL correlate at 0.82, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.85 lands near the 3-year figure. Stretching to 5 years gives 0.63, with an annualized covariance of 228.4 %².
Among the 49 assets we track against BDCZ, BXSL ranks #8 by 3-year correlation. Their 12-month results are close: -4.0% for BDCZ against -6.3% for BXSL.
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.
BDCZ vs BXSL: side by side
| BDCZ (ETRACS MarketVector Business Development Companies Liquid) | BXSL (Blackstone Secured Lending Fund) | |
|---|---|---|
| 1-year return | -4.0% | -6.3% |
| 5-year return | +29.0% | +49.3% |
| Volatility (ann.) | 16.0% | 17.4% |
| Beta vs S&P 500 | 0.58 | 0.45 |
| Max drawdown (3Y) | -20.8% | -24.2% |
| Market cap | – | $5.8B |
| P/E (trailing) | – | 19.6 |
| Dividend yield | 0.00% | 12.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDCZ | BXSL |
|---|---|---|
| 2022 | -9.1% | -26.0% |
| 2023 | +25.3% | +37.8% |
| 2024 | +12.2% | +29.0% |
| 2025 | -3.7% | -9.4% |
| 2026 | +0.4% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDCZ and BXSL good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between BDCZ and BXSL?
The BDCZ/BXSL correlation stands at 0.82 on a 3-year window (1 year: 0.85, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is BXSL a good diversifier for BDCZ?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 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/bdcz-vs-bxsl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bdcz-vs-bxsl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BDCZ correlations · BXSL correlations
