FSK vs OBDC: Correlation
Measured on weekly returns over the past three years, FS KKR Capital Corp. (FSK) and Blue Owl Capital Corporation (OBDC) carry a correlation of 0.71, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSK and OBDC?
On 3 years of weekly data the FSK/OBDC correlation comes out at 0.71, strong. Recent behaviour matches the longer record: 0.74 over 1 year against 0.71 over 3. The 5-year figure is 0.72, and annualized covariance runs at 361.6 %².
By 3-year correlation, OBDC places #5 of the 17 assets tracked against FSK. Over the last 12 months OBDC came out ahead by 8.8 percentage points (-19.1% 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.
FSK vs OBDC: side by side
| FSK (FS KKR Capital Corp.) | OBDC (Blue Owl Capital Corporation) | |
|---|---|---|
| 1-year return | -19.1% | -10.3% |
| 5-year return | +10.8% | +34.0% |
| Volatility (ann.) | 26.7% | 19.2% |
| Beta vs S&P 500 | 0.63 | 0.71 |
| Max drawdown (3Y) | -51.0% | -23.9% |
| Market cap | $3.4B | $5.6B |
| P/E (trailing) | – | 20.1 |
| Dividend yield | 17.68% | 12.62% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSK | OBDC |
|---|---|---|
| 2022 | -4.7% | -9.5% |
| 2023 | +33.0% | +43.5% |
| 2024 | +25.7% | +14.7% |
| 2025 | -20.4% | -7.9% |
| 2026 | -9.9% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSK and OBDC good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FSK and OBDC?
As of 2026-08-27, the correlation of weekly returns between FSK and OBDC is 0.71 over 3 years, 0.74 over 1 year and 0.72 over 5 years.
Is OBDC a good diversifier for FSK?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 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/fsk-vs-obdc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fsk-vs-obdc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FSK correlations · OBDC correlations
