BGB vs JFR: Correlation
Measured on weekly returns over the past three years, Blackstone Strategic Credit 2027 Term Fund (BGB) and Nuveen Floating Rate Income Fund (JFR) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGB and JFR?
On 3 years of weekly data the BGB/JFR correlation comes out at 0.69, strong. Recent behaviour matches the longer record: 0.76 over 1 year against 0.69 over 3. The 5-year figure is 0.73, and annualized covariance runs at 62.1 %².
By 3-year correlation, JFR places #5 of the 14 assets tracked against BGB. Over the last 12 months JFR came out ahead by 5.4 percentage points (-3.1% against +2.3%).
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.
BGB vs JFR: side by side
| BGB (Blackstone Strategic Credit 2027 Term Fund) | JFR (Nuveen Floating Rate Income Fund) | |
|---|---|---|
| 1-year return | -3.1% | +2.3% |
| 5-year return | +23.0% | +31.7% |
| Volatility (ann.) | 9.3% | 9.7% |
| Beta vs S&P 500 | 0.40 | 0.35 |
| Max drawdown (3Y) | -12.8% | -15.3% |
| Market cap | – | – |
| P/E (trailing) | 16.7 | 22.4 |
| Dividend yield | 0.00% | 13.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGB | JFR |
|---|---|---|
| 2022 | -16.1% | -15.1% |
| 2023 | +19.5% | +16.7% |
| 2024 | +18.7% | +21.9% |
| 2025 | +4.8% | -0.7% |
| 2026 | -0.5% | +5.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGB and JFR good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BGB and JFR?
The BGB/JFR correlation stands at 0.69 on a 3-year window (1 year: 0.76, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is JFR a good diversifier for BGB?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 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-jfr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bgb-vs-jfr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BGB correlations · JFR correlations
