NMFC vs TSLX: Correlation
Measured on weekly returns over the past three years, New Mountain Finance Corporation (NMFC) and Sixth Street Specialty Lending, Inc. (TSLX) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NMFC and TSLX?
Over the past 3 years, NMFC and TSLX moved with a correlation of 0.75, which is strong. Recent behaviour matches the longer record: 0.75 over 1 year against 0.75 over 3. Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 305.2 %².
By 3-year correlation, TSLX places #6 of the 22 assets tracked against NMFC. Neither side won the trailing year by much: -16.1% against -15.0%.
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.
NMFC vs TSLX: side by side
| NMFC (New Mountain Finance Corporation) | TSLX (Sixth Street Specialty Lending, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | -15.0% |
| 5-year return | +1.4% | +35.2% |
| Volatility (ann.) | 19.7% | 20.5% |
| Beta vs S&P 500 | 0.53 | 0.60 |
| Max drawdown (3Y) | -30.6% | -29.0% |
| Market cap | $0.7B | $1.8B |
| P/E (trailing) | – | 19.9 |
| Dividend yield | 15.98% | 10.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NMFC | TSLX |
|---|---|---|
| 2022 | -0.6% | -16.4% |
| 2023 | +15.8% | +35.3% |
| 2024 | -0.9% | +8.8% |
| 2025 | -7.2% | +11.5% |
| 2026 | -10.9% | -9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NMFC and TSLX good diversifiers for each other?
Only partially. A correlation of 0.75 means NMFC and TSLX 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 NMFC and TSLX?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.75 over the last year and 0.74 over 5 years.
Is TSLX a good diversifier for NMFC?
Only partially. A correlation of 0.75 means NMFC and TSLX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 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/nmfc-vs-tslx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nmfc-vs-tslx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NMFC correlations · TSLX correlations
