BGX vs EFR: Correlation
How closely do Blackstone Long Short Credit Income Fund (BGX) and Eaton Vance Senior Floating-Rate Fund (EFR) trade together? Their weekly returns over three years give a correlation of 0.72, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGX and EFR?
Across a 3-year window, the weekly returns of BGX and EFR correlate at 0.72, strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Stretching to 5 years gives 0.72, with an annualized covariance of 77.0 %².
Few assets follow BGX as closely as EFR, which ranks #3 of 14 tracked partners. Their 12-month results are close: -6.6% for BGX against -2.3% for EFR.
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 EFR: side by side
| BGX (Blackstone Long Short Credit Income Fund) | EFR (Eaton Vance Senior Floating-Rate Fund) | |
|---|---|---|
| 1-year return | -6.6% | -2.3% |
| 5-year return | +15.1% | +16.8% |
| Volatility (ann.) | 10.0% | 10.7% |
| Beta vs S&P 500 | 0.39 | 0.45 |
| Max drawdown (3Y) | -14.1% | -18.3% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | 15.3 | 20.6 |
| Dividend yield | 0.00% | 9.21% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGX | EFR |
|---|---|---|
| 2022 | -20.6% | -18.8% |
| 2023 | +18.9% | +29.2% |
| 2024 | +19.8% | +11.3% |
| 2025 | +2.1% | -4.9% |
| 2026 | -3.3% | -0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGX and EFR good diversifiers for each other?
To a limited degree. At 0.72 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 BGX and EFR?
The BGX/EFR correlation stands at 0.72 on a 3-year window (1 year: 0.64, 5 years: 0.72), computed from weekly returns as of 2026-08-27.
Is EFR a good diversifier for BGX?
To a limited degree. At 0.72 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 0.72 mean?
On the −1 to +1 scale, 0.72 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/bgx-vs-efr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bgx-vs-efr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BGX correlations · EFR correlations
