BGX vs JQC: Correlation
How closely do Blackstone Long Short Credit Income Fund (BGX) and Nuveen Credit Strategies Income Fund Shares of Beneficial (JQC) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGX and JQC?
Over the past 3 years, BGX and JQC moved with a correlation of 0.70, which is strong. The past 12 months show a weaker link (0.56) than the 3-year average (0.70). Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 77.2 %².
Among the 14 assets we track against BGX, JQC ranks #5 by 3-year correlation. Twelve-month performance is nearly a tie, at -6.6% for BGX and -2.3% for JQC.
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 JQC: side by side
| BGX (Blackstone Long Short Credit Income Fund) | JQC (Nuveen Credit Strategies Income Fund Shares of Beneficial) | |
|---|---|---|
| 1-year return | -6.6% | -2.3% |
| 5-year return | +15.1% | +26.7% |
| Volatility (ann.) | 10.0% | 11.1% |
| Beta vs S&P 500 | 0.39 | 0.41 |
| Max drawdown (3Y) | -14.1% | -15.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | 15.3 | 16.9 |
| Dividend yield | 0.00% | 13.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGX | JQC |
|---|---|---|
| 2022 | -20.6% | -14.2% |
| 2023 | +18.9% | +15.4% |
| 2024 | +19.8% | +22.3% |
| 2025 | +2.1% | -0.4% |
| 2026 | -3.3% | +2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGX and JQC good diversifiers for each other?
Only partially. A correlation of 0.70 means BGX and JQC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BGX and JQC?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.56 over the last year and 0.72 over 5 years.
Is JQC a good diversifier for BGX?
Only partially. A correlation of 0.70 means BGX and JQC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
On the −1 to +1 scale, 0.70 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-jqc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bgx-vs-jqc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BGX correlations · JQC correlations
