FSK vs KBDC: Correlation
Measured on weekly returns over the past three years, FS KKR Capital Corp. (FSK) and Kayne Anderson BDC, Inc. (KBDC) 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 FSK and KBDC?
Across a 3-year window, the weekly returns of FSK and KBDC correlate at 0.63, strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 293.9 %².
By 3-year correlation, KBDC places #8 of the 17 assets tracked against FSK. Correlation aside, the last 12 months split them widely, with KBDC ahead by 20.0 points (-19.1% versus +0.9%). Risk is not evenly split, since FSK carries 1.7 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.
FSK vs KBDC: side by side
| FSK (FS KKR Capital Corp.) | KBDC (Kayne Anderson BDC, Inc.) | |
|---|---|---|
| 1-year return | -19.1% | +0.9% |
| 5-year return | +10.8% | n/a |
| Volatility (ann.) | 26.7% | 15.7% |
| Beta vs S&P 500 | 0.63 | 0.39 |
| Max drawdown (3Y) | -51.0% | -19.6% |
| Market cap | $3.4B | $0.9B |
| P/E (trailing) | – | 12.4 |
| Dividend yield | 17.68% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSK | KBDC |
|---|---|---|
| 2022 | -4.7% | – |
| 2023 | +33.0% | – |
| 2024 | +25.7% | – |
| 2025 | -20.4% | -2.4% |
| 2026 | -9.9% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSK and KBDC good diversifiers for each other?
Only partially. A correlation of 0.63 means FSK and KBDC 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 FSK and KBDC?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.69 over the last year and n/a over 5 years.
Is KBDC a good diversifier for FSK?
Only partially. A correlation of 0.63 means FSK and KBDC 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fsk-vs-kbdc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fsk-vs-kbdc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FSK correlations · KBDC correlations
