FINS vs OXSQ: Correlation
How closely do Angel Oak Financial Strategies Income Term Trust (FINS) and Oxford Square Capital Corp. - Closed End Fund (OXSQ) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FINS and OXSQ?
Across a 3-year window, the weekly returns of FINS and OXSQ correlate at 0.38, moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.38 over 3. Stretching to 5 years gives 0.35, with an annualized covariance of 80.3 %².
OXSQ is close to the least connected end of FINS's tracked universe, ranking #8 of 12. Their recent paths diverged sharply: over the last 12 months FINS outperformed by 27.1 percentage points (+6.2% for FINS against -20.9% for OXSQ). Risk is not evenly split, since OXSQ carries 3.2 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.
FINS vs OXSQ: side by side
| FINS (Angel Oak Financial Strategies Income Term Trust) | OXSQ (Oxford Square Capital Corp. - Closed End Fund) | |
|---|---|---|
| 1-year return | +6.2% | -20.9% |
| 5-year return | +12.5% | -29.3% |
| Volatility (ann.) | 8.2% | 26.1% |
| Beta vs S&P 500 | 0.28 | 0.39 |
| Max drawdown (3Y) | -6.0% | -46.0% |
| Market cap | $0.4B | $0.1B |
| P/E (trailing) | 7.6 | – |
| Dividend yield | 10.65% | 31.11% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FINS | OXSQ |
|---|---|---|
| 2022 | -18.2% | -14.4% |
| 2023 | +2.5% | +9.2% |
| 2024 | +18.3% | -1.9% |
| 2025 | +15.2% | -13.3% |
| 2026 | +2.9% | -8.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FINS and OXSQ good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FINS and OXSQ?
The FINS/OXSQ correlation stands at 0.38 on a 3-year window (1 year: 0.38, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is OXSQ a good diversifier for FINS?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/fins-vs-oxsq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fins-vs-oxsq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FINS correlations · OXSQ correlations
