BGX vs BSL: Correlation
How closely do Blackstone Long Short Credit Income Fund (BGX) and Blackstone Senior Floating Rate 2027 Term Fund (BSL) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGX and BSL?
On 3 years of weekly data the BGX/BSL correlation comes out at 0.61, strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.61 over 3. The 5-year figure is 0.67, and annualized covariance runs at 42.3 %².
Within BGX's tracked universe of 14 assets, BSL comes in at #7 by 3-year correlation. The trailing year gives BSL the advantage: -6.6% versus -1.2%, a 5.4-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.
BGX vs BSL: side by side
| BGX (Blackstone Long Short Credit Income Fund) | BSL (Blackstone Senior Floating Rate 2027 Term Fund) | |
|---|---|---|
| 1-year return | -6.6% | -1.2% |
| 5-year return | +15.1% | +23.5% |
| Volatility (ann.) | 10.0% | 6.9% |
| Beta vs S&P 500 | 0.39 | 0.20 |
| Max drawdown (3Y) | -14.1% | -7.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | 15.3 | 22.8 |
| Dividend yield | 0.00% | 8.86% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGX | BSL |
|---|---|---|
| 2022 | -20.6% | -22.9% |
| 2023 | +18.9% | +20.0% |
| 2024 | +19.8% | +18.2% |
| 2025 | +2.1% | +2.2% |
| 2026 | -3.3% | +0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGX and BSL good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BGX and BSL?
The BGX/BSL correlation stands at 0.61 on a 3-year window (1 year: 0.62, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is BSL a good diversifier for BGX?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 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/bgx-vs-bsl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bgx-vs-bsl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BGX correlations · BSL correlations
