BOLT vs PFLT: Correlation
How closely do Bolt Biotherapeutics, Inc. (BOLT) and PennantPark Floating Rate Capital Ltd. (PFLT) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOLT and PFLT?
On 3 years of weekly data the BOLT/PFLT correlation comes out at 0.34, moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.34 over 3. The 5-year figure is 0.24, and annualized covariance runs at 399.7 %².
By 3-year correlation, PFLT places #4 of the 12 assets tracked against BOLT. On 12-month performance PFLT holds a 9.2-point edge, -25.2% against -16.0%. Note the risk asymmetry: BOLT runs 2.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BOLT vs PFLT: side by side
| BOLT (Bolt Biotherapeutics, Inc.) | PFLT (PennantPark Floating Rate Capital Ltd.) | |
|---|---|---|
| 1-year return | -25.2% | -16.0% |
| 5-year return | -98.8% | +1.5% |
| Volatility (ann.) | 58.4% | 20.1% |
| Beta vs S&P 500 | 0.45 | 0.69 |
| Max drawdown (3Y) | -89.4% | -28.4% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | 14.6 |
| Dividend yield | 0.00% | 16.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOLT | PFLT |
|---|---|---|
| 2022 | -73.5% | -5.5% |
| 2023 | -13.8% | +23.1% |
| 2024 | -52.2% | +0.7% |
| 2025 | -48.9% | -4.1% |
| 2026 | -26.8% | -12.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOLT and PFLT good diversifiers for each other?
Reasonably. At 0.34, BOLT and PFLT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BOLT and PFLT?
The BOLT/PFLT correlation stands at 0.34 on a 3-year window (1 year: 0.33, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is PFLT a good diversifier for BOLT?
Reasonably. At 0.34, BOLT and PFLT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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.
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Related comparisons
Hubs: BOLT correlations · PFLT correlations
