GSBD vs SMRT: Correlation
Goldman Sachs BDC, Inc. (GSBD) and SmartRent, Inc. (SMRT) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GSBD and SMRT?
Over the past 3 years, GSBD and SMRT moved with a correlation of 0.50, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.63 versus 0.50 over 3 years. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 695.1 %².
By 3-year correlation, SMRT places #10 of the 17 assets tracked against GSBD. The trailing year gives GSBD the advantage: +4.3% versus -7.5%, a 11.8-point spread. Risk is not evenly split, since SMRT 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.
GSBD vs SMRT: side by side
| GSBD (Goldman Sachs BDC, Inc.) | SMRT (SmartRent, Inc.) | |
|---|---|---|
| 1-year return | +4.3% | -7.5% |
| 5-year return | +1.8% | -89.1% |
| Volatility (ann.) | 20.9% | 66.0% |
| Beta vs S&P 500 | 0.62 | 1.68 |
| Max drawdown (3Y) | -29.6% | -79.4% |
| Market cap | $1.1B | $0.3B |
| P/E (trailing) | 19.1 | – |
| Dividend yield | 12.77% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GSBD | SMRT |
|---|---|---|
| 2022 | -20.1% | -74.9% |
| 2023 | +21.0% | +31.3% |
| 2024 | -6.2% | -45.1% |
| 2025 | -8.8% | +15.4% |
| 2026 | +17.4% | -32.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GSBD and SMRT good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GSBD and SMRT?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.63 over the last year and 0.38 over 5 years.
Is SMRT a good diversifier for GSBD?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 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/gsbd-vs-smrt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gsbd-vs-smrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GSBD correlations · SMRT correlations
