BGX vs XFLT: Correlation
Measured on weekly returns over the past three years, Blackstone Long Short Credit Income Fund (BGX) and XAI Floating Rate & Alternative Income Trust (XFLT) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGX and XFLT?
Across a 3-year window, the weekly returns of BGX and XFLT correlate at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Stretching to 5 years gives 0.55, with an annualized covariance of 90.0 %².
Among the 14 assets we track against BGX, XFLT sits near the bottom by co-movement, at rank #11. On 12-month performance BGX holds a 9.9-point edge, -6.6% against -16.5%. Risk is not evenly split, since XFLT carries 1.8 times the volatility of the other side.
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 XFLT: side by side
| BGX (Blackstone Long Short Credit Income Fund) | XFLT (XAI Floating Rate & Alternative Income Trust) | |
|---|---|---|
| 1-year return | -6.6% | -16.5% |
| 5-year return | +15.1% | -11.0% |
| Volatility (ann.) | 10.0% | 17.7% |
| Beta vs S&P 500 | 0.39 | 0.36 |
| Max drawdown (3Y) | -14.1% | -47.0% |
| Market cap | $0.1B | $0.3B |
| P/E (trailing) | 15.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGX | XFLT |
|---|---|---|
| 2022 | -20.6% | -20.3% |
| 2023 | +18.9% | +30.4% |
| 2024 | +19.8% | +7.4% |
| 2025 | +2.1% | -15.3% |
| 2026 | -3.3% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGX and XFLT good diversifiers for each other?
To a limited degree. At 0.51 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 XFLT?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.61 over the last year and 0.55 over 5 years.
Is XFLT a good diversifier for BGX?
To a limited degree. At 0.51 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 0.51 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-xflt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bgx-vs-xflt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BGX correlations · XFLT correlations
