BDCZ vs TSLX: Correlation
Measured on weekly returns over the past three years, ETRACS MarketVector Business Development Companies Liquid (BDCZ) and Sixth Street Specialty Lending, Inc. (TSLX) carry a correlation of 0.85, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDCZ and TSLX?
On 3 years of weekly data the BDCZ/TSLX correlation comes out at 0.85, 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. The 5-year figure is 0.85, and annualized covariance runs at 278.8 %².
By 3-year correlation, TSLX places #5 of the 49 assets tracked against BDCZ. The trailing year gives BDCZ the advantage: -4.0% versus -15.0%, a 11.0-point spread.
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 TSLX: side by side
| BDCZ (ETRACS MarketVector Business Development Companies Liquid) | TSLX (Sixth Street Specialty Lending, Inc.) | |
|---|---|---|
| 1-year return | -4.0% | -15.0% |
| 5-year return | +29.0% | +35.2% |
| Volatility (ann.) | 16.0% | 20.5% |
| Beta vs S&P 500 | 0.58 | 0.60 |
| Max drawdown (3Y) | -20.8% | -29.0% |
| Market cap | – | $1.8B |
| P/E (trailing) | – | 19.9 |
| Dividend yield | 0.00% | 10.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDCZ | TSLX |
|---|---|---|
| 2022 | -9.1% | -16.4% |
| 2023 | +25.3% | +35.3% |
| 2024 | +12.2% | +8.8% |
| 2025 | -3.7% | +11.5% |
| 2026 | +0.4% | -9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDCZ and TSLX good diversifiers for each other?
No: a correlation of 0.85 means BDCZ and TSLX tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between BDCZ and TSLX?
As of 2026-08-27, the correlation of weekly returns between BDCZ and TSLX is 0.85 over 3 years, 0.85 over 1 year and 0.85 over 5 years.
Is TSLX a good diversifier for BDCZ?
No: a correlation of 0.85 means BDCZ and TSLX tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.85 mean?
On the −1 to +1 scale, 0.85 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bdcz-vs-tslx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bdcz-vs-tslx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BDCZ correlations · TSLX correlations
