BX vs OWL: Correlation
How closely do Blackstone Inc. (BX) and Blue Owl Capital Inc. (OWL) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BX and OWL?
Over the past 3 years, BX and OWL moved with a correlation of 0.71, which is strong. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 1008.3 %².
Among the 35 assets we track against BX, OWL ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BX ahead by 17.3 points (-12.9% versus -30.2%).
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.
BX vs OWL: side by side
| BX (Blackstone Inc.) | OWL (Blue Owl Capital Inc.) | |
|---|---|---|
| 1-year return | -12.9% | -30.2% |
| 5-year return | +37.5% | +8.2% |
| Volatility (ann.) | 34.0% | 41.9% |
| Beta vs S&P 500 | 1.36 | 1.77 |
| Max drawdown (3Y) | -46.5% | -67.1% |
| Market cap | $171.7B | $18.8B |
| P/E (trailing) | 32.1 | 100.2 |
| Dividend yield | 3.65% | 7.71% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | BX | OWL |
|---|---|---|
| 2022 | -40.0% | -26.3% |
| 2023 | +82.7% | +47.4% |
| 2024 | +35.1% | +61.8% |
| 2025 | -7.8% | -32.8% |
| 2026 | -3.9% | -14.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BX and OWL good diversifiers for each other?
Only partially. A correlation of 0.71 means BX and OWL 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 BX and OWL?
As of 2026-08-27, the correlation of weekly returns between BX and OWL is 0.71 over 3 years, 0.76 over 1 year and 0.69 over 5 years.
Is OWL a good diversifier for BX?
Only partially. A correlation of 0.71 means BX and OWL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 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/bx-vs-owl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bx-vs-owl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BX correlations · OWL correlations
