BGB vs BGX: Correlation
Blackstone Strategic Credit 2027 Term Fund (BGB) and Blackstone Long Short Credit Income Fund (BGX) show a strong relationship: their 3-year correlation of weekly returns is 0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGB and BGX?
Across a 3-year window, the weekly returns of BGB and BGX correlate at 0.76, strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.76 over 3. Stretching to 5 years gives 0.79, with an annualized covariance of 70.5 %².
In BGB's tracked universe of 14 assets, BGX sits right near the top at #1. Neither side won the trailing year by much: -3.1% against -6.6%.
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.
BGB vs BGX: side by side
| BGB (Blackstone Strategic Credit 2027 Term Fund) | BGX (Blackstone Long Short Credit Income Fund) | |
|---|---|---|
| 1-year return | -3.1% | -6.6% |
| 5-year return | +23.0% | +15.1% |
| Volatility (ann.) | 9.3% | 10.0% |
| Beta vs S&P 500 | 0.40 | 0.39 |
| Max drawdown (3Y) | -12.8% | -14.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | 16.7 | 15.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGB | BGX |
|---|---|---|
| 2022 | -16.1% | -20.6% |
| 2023 | +19.5% | +18.9% |
| 2024 | +18.7% | +19.8% |
| 2025 | +4.8% | +2.1% |
| 2026 | -0.5% | -3.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGB and BGX good diversifiers for each other?
Only partially. A correlation of 0.76 means BGB and BGX 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 BGB and BGX?
The BGB/BGX correlation stands at 0.76 on a 3-year window (1 year: 0.70, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is BGX a good diversifier for BGB?
Only partially. A correlation of 0.76 means BGB and BGX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 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/bgb-vs-bgx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bgb-vs-bgx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BGB correlations · BGX correlations
