BXSL vs OBDC: Correlation
Blackstone Secured Lending Fund (BXSL) and Blue Owl Capital Corporation (OBDC) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXSL and OBDC?
On 3 years of weekly data the BXSL/OBDC correlation comes out at 0.72, strong. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 242.6 %².
By 3-year correlation, OBDC places #5 of the 11 assets tracked against BXSL. Neither side won the trailing year by much: -6.3% against -10.3%.
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 OBDC: side by side
| BXSL (Blackstone Secured Lending Fund) | OBDC (Blue Owl Capital Corporation) | |
|---|---|---|
| 1-year return | -6.3% | -10.3% |
| 5-year return | +49.3% | +34.0% |
| Volatility (ann.) | 17.4% | 19.2% |
| Beta vs S&P 500 | 0.45 | 0.71 |
| Max drawdown (3Y) | -24.2% | -23.9% |
| Market cap | $5.8B | $5.6B |
| P/E (trailing) | 19.6 | 20.1 |
| Dividend yield | 12.35% | 12.62% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BXSL | OBDC |
|---|---|---|
| 2022 | -26.0% | -9.5% |
| 2023 | +37.8% | +43.5% |
| 2024 | +29.0% | +14.7% |
| 2025 | -9.4% | -7.9% |
| 2026 | +0.2% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXSL and OBDC good diversifiers for each other?
To a limited degree. At 0.72 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 BXSL and OBDC?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.77 over the last year and 0.56 over 5 years.
Is OBDC a good diversifier for BXSL?
To a limited degree. At 0.72 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 0.72 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-obdc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bxsl-vs-obdc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BXSL correlations · OBDC correlations
