GJP vs OCSL: Correlation
Measured on weekly returns over the past three years, Synthetic Fixed-Income Securities, Inc. on behalf of STRATS (GJP) and Oaktree Specialty Lending Corporation - Closed End Fund (OCSL) carry a correlation of 0.33, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GJP and OCSL?
Over the past 3 years, GJP and OCSL moved with a correlation of 0.33, which is moderate. Recent behaviour matches the longer record: 0.27 over 1 year against 0.33 over 3. Over 5 years the correlation is 0.21, and the annualized covariance of weekly returns is 73.7 %².
In GJP's tracked universe of 11 assets, OCSL sits right near the top at #2. Twelve-month performance is nearly a tie, at +5.6% for GJP and +5.4% for OCSL. Note the risk asymmetry: OCSL runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GJP vs OCSL: side by side
| GJP (Synthetic Fixed-Income Securities, Inc. on behalf of STRATS) | OCSL (Oaktree Specialty Lending Corporation - Closed End Fund) | |
|---|---|---|
| 1-year return | +5.6% | +5.4% |
| 5-year return | +30.4% | +5.8% |
| Volatility (ann.) | 10.3% | 21.7% |
| Beta vs S&P 500 | 0.13 | 0.62 |
| Max drawdown (3Y) | -5.8% | -34.2% |
| Market cap | – | $1.1B |
| P/E (trailing) | – | 27.0 |
| Dividend yield | – | 11.49% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GJP | OCSL |
|---|---|---|
| 2022 | +4.2% | +3.7% |
| 2023 | +7.1% | +11.3% |
| 2024 | +7.2% | -15.1% |
| 2025 | +5.2% | -6.1% |
| 2026 | +2.9% | +8.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GJP and OCSL good diversifiers for each other?
Reasonably. At 0.33, GJP and OCSL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GJP and OCSL?
As of 2026-08-27, the correlation of weekly returns between GJP and OCSL is 0.33 over 3 years, 0.27 over 1 year and 0.21 over 5 years.
Is OCSL a good diversifier for GJP?
Reasonably. At 0.33, GJP and OCSL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.33 mean?
A reading of 0.33 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/gjp-vs-ocsl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gjp-vs-ocsl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GJP correlations · OCSL correlations
