BTZ vs DBL: Correlation
Measured on weekly returns over the past three years, BlackRock Credit Allocation Income Trust (BTZ) and DoubleLine Opportunistic Credit Fund (DBL) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTZ and DBL?
Across a 3-year window, the weekly returns of BTZ and DBL correlate at 0.63, strong. The link has loosened recently: the 1-year correlation (0.52) runs below the 3-year figure (0.63). Stretching to 5 years gives 0.50, with an annualized covariance of 50.0 %².
Among the 25 assets we track against BTZ, DBL ranks #16 by 3-year correlation. Their 12-month results are close: +1.6% for BTZ against -0.5% for DBL. Risk is not evenly split, since BTZ carries 1.7 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.
BTZ vs DBL: side by side
| BTZ (BlackRock Credit Allocation Income Trust) | DBL (DoubleLine Opportunistic Credit Fund) | |
|---|---|---|
| 1-year return | +1.6% | -0.5% |
| 5-year return | +5.4% | +10.1% |
| Volatility (ann.) | 11.5% | 6.9% |
| Beta vs S&P 500 | 0.44 | 0.17 |
| Max drawdown (3Y) | -9.3% | -5.7% |
| Market cap | – | – |
| P/E (trailing) | 9.2 | 21.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTZ | DBL |
|---|---|---|
| 2022 | -27.1% | -15.8% |
| 2023 | +12.8% | +13.1% |
| 2024 | +11.3% | +10.0% |
| 2025 | +13.7% | +7.2% |
| 2026 | +0.1% | -1.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTZ and DBL good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BTZ and DBL?
As of 2026-08-27, the correlation of weekly returns between BTZ and DBL is 0.63 over 3 years, 0.52 over 1 year and 0.50 over 5 years.
Is DBL a good diversifier for BTZ?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 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/btz-vs-dbl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btz-vs-dbl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BTZ correlations · DBL correlations
