CCAP vs PFLT: Correlation
Measured on weekly returns over the past three years, Crescent Capital BDC, Inc. (CCAP) and PennantPark Floating Rate Capital Ltd. (PFLT) 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 CCAP and PFLT?
Over the past 3 years, CCAP and PFLT moved with a correlation of 0.63, which is strong. The relationship has been stable: the 1-year correlation (0.65) sits close to the 3-year figure. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 293.0 %².
Among the 18 assets we track against CCAP, PFLT ranks #4 by 3-year correlation. On 12-month performance PFLT holds a 6.8-point edge, -22.8% against -16.0%.
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.
CCAP vs PFLT: side by side
| CCAP (Crescent Capital BDC, Inc.) | PFLT (PennantPark Floating Rate Capital Ltd.) | |
|---|---|---|
| 1-year return | -22.8% | -16.0% |
| 5-year return | +1.5% | +1.5% |
| Volatility (ann.) | 22.9% | 20.1% |
| Beta vs S&P 500 | 0.60 | 0.69 |
| Max drawdown (3Y) | -36.2% | -28.4% |
| Market cap | $0.4B | $0.7B |
| P/E (trailing) | – | 14.6 |
| Dividend yield | 15.14% | 16.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCAP | PFLT |
|---|---|---|
| 2022 | -18.5% | -5.5% |
| 2023 | +52.6% | +23.1% |
| 2024 | +23.5% | +0.7% |
| 2025 | -17.5% | -4.1% |
| 2026 | -19.3% | -12.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCAP and PFLT good diversifiers for each other?
Only partially. A correlation of 0.63 means CCAP and PFLT 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 CCAP and PFLT?
The CCAP/PFLT correlation stands at 0.63 on a 3-year window (1 year: 0.65, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is PFLT a good diversifier for CCAP?
Only partially. A correlation of 0.63 means CCAP and PFLT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
A reading of 0.63 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CCAP correlations · PFLT correlations
