BGX vs JFR: Correlation
Measured on weekly returns over the past three years, Blackstone Long Short Credit Income Fund (BGX) and Nuveen Floating Rate Income Fund (JFR) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGX and JFR?
Across a 3-year window, the weekly returns of BGX and JFR correlate at 0.71, strong. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. Stretching to 5 years gives 0.73, with an annualized covariance of 68.9 %².
By 3-year correlation, JFR places #4 of the 14 assets tracked against BGX. On 12-month performance JFR holds a 8.9-point edge, -6.6% 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.
BGX vs JFR: side by side
| BGX (Blackstone Long Short Credit Income Fund) | JFR (Nuveen Floating Rate Income Fund) | |
|---|---|---|
| 1-year return | -6.6% | +2.3% |
| 5-year return | +15.1% | +31.7% |
| Volatility (ann.) | 10.0% | 9.7% |
| Beta vs S&P 500 | 0.39 | 0.35 |
| Max drawdown (3Y) | -14.1% | -15.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 15.3 | 22.4 |
| Dividend yield | 0.00% | 13.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGX | JFR |
|---|---|---|
| 2022 | -20.6% | -15.1% |
| 2023 | +18.9% | +16.7% |
| 2024 | +19.8% | +21.9% |
| 2025 | +2.1% | -0.7% |
| 2026 | -3.3% | +5.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGX and JFR good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BGX and JFR?
The BGX/JFR correlation stands at 0.71 on a 3-year window (1 year: 0.62, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is JFR a good diversifier for BGX?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
A reading of 0.71 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bgx-vs-jfr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bgx-vs-jfr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BGX correlations · JFR correlations
