BGT vs JFR: Correlation
Measured on weekly returns over the past three years, BlackRock Floating Rate Income Trust (BGT) and Nuveen Floating Rate Income Fund (JFR) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGT and JFR?
On 3 years of weekly data the BGT/JFR correlation comes out at 0.67, strong. Recent behaviour matches the longer record: 0.71 over 1 year against 0.67 over 3. The 5-year figure is 0.70, and annualized covariance runs at 81.0 %².
Within BGT's tracked universe of 11 assets, JFR comes in at #5 by 3-year correlation. Twelve-month performance is nearly a tie, at +0.8% for BGT and +2.3% for JFR.
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.
BGT vs JFR: side by side
| BGT (BlackRock Floating Rate Income Trust) | JFR (Nuveen Floating Rate Income Fund) | |
|---|---|---|
| 1-year return | +0.8% | +2.3% |
| 5-year return | +41.9% | +31.7% |
| Volatility (ann.) | 12.4% | 9.7% |
| Beta vs S&P 500 | 0.46 | 0.35 |
| Max drawdown (3Y) | -15.9% | -15.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 15.6 | 22.4 |
| Dividend yield | 13.12% | 13.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGT | JFR |
|---|---|---|
| 2022 | -16.6% | -15.1% |
| 2023 | +26.3% | +16.7% |
| 2024 | +16.1% | +21.9% |
| 2025 | -0.9% | -0.7% |
| 2026 | +6.6% | +5.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGT and JFR good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BGT and JFR?
As of 2026-08-27, the correlation of weekly returns between BGT and JFR is 0.67 over 3 years, 0.71 over 1 year and 0.70 over 5 years.
Is JFR a good diversifier for BGT?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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/bgt-vs-jfr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bgt-vs-jfr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BGT correlations · JFR correlations
