BXSL vs CGBD: Correlation
Measured on weekly returns over the past three years, Blackstone Secured Lending Fund (BXSL) and Carlyle Secured Lending, Inc. - Closed End Fund (CGBD) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXSL and CGBD?
On 3 years of weekly data the BXSL/CGBD correlation comes out at 0.72, strong. Recent behaviour matches the longer record: 0.80 over 1 year against 0.72 over 3. The 5-year figure is 0.55, and annualized covariance runs at 270.7 %².
By 3-year correlation, CGBD places #4 of the 11 assets tracked against BXSL. Their 12-month results are close: -6.3% for BXSL against -3.9% for CGBD.
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.
BXSL vs CGBD: side by side
| BXSL (Blackstone Secured Lending Fund) | CGBD (Carlyle Secured Lending, Inc. - Closed End Fund) | |
|---|---|---|
| 1-year return | -6.3% | -3.9% |
| 5-year return | +49.3% | +52.6% |
| Volatility (ann.) | 17.4% | 21.6% |
| Beta vs S&P 500 | 0.45 | 0.67 |
| Max drawdown (3Y) | -24.2% | -35.1% |
| Market cap | $5.8B | $0.8B |
| P/E (trailing) | 19.6 | 22.4 |
| Dividend yield | 12.35% | 13.68% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BXSL | CGBD |
|---|---|---|
| 2022 | -26.0% | +17.7% |
| 2023 | +37.8% | +18.0% |
| 2024 | +29.0% | +33.5% |
| 2025 | -9.4% | -21.5% |
| 2026 | +0.2% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXSL and CGBD good diversifiers for each other?
Only partially. A correlation of 0.72 means BXSL and CGBD 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 BXSL and CGBD?
The BXSL/CGBD correlation stands at 0.72 on a 3-year window (1 year: 0.80, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is CGBD a good diversifier for BXSL?
Only partially. A correlation of 0.72 means BXSL and CGBD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 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/bxsl-vs-cgbd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bxsl-vs-cgbd/)
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Related comparisons
Hubs: BXSL correlations · CGBD correlations
