OBDC vs WHF: Correlation
Measured on weekly returns over the past three years, Blue Owl Capital Corporation (OBDC) and WhiteHorse Finance, Inc. - Closed End Fund (WHF) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OBDC and WHF?
Across a 3-year window, the weekly returns of OBDC and WHF correlate at 0.48, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.48 over 3. Stretching to 5 years gives 0.52, with an annualized covariance of 210.1 %².
Within OBDC's tracked universe of 25 assets, WHF comes in at #18 by 3-year correlation. The trailing year gives WHF the advantage: -10.3% versus -2.5%, a 7.8-point spread.
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.
OBDC vs WHF: side by side
| OBDC (Blue Owl Capital Corporation) | WHF (WhiteHorse Finance, Inc. - Closed End Fund) | |
|---|---|---|
| 1-year return | -10.3% | -2.5% |
| 5-year return | +34.0% | -11.5% |
| Volatility (ann.) | 19.2% | 22.6% |
| Beta vs S&P 500 | 0.71 | 0.25 |
| Max drawdown (3Y) | -23.9% | -37.9% |
| Market cap | $5.6B | $0.2B |
| P/E (trailing) | 20.1 | 9.1 |
| Dividend yield | 12.62% | 16.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OBDC | WHF |
|---|---|---|
| 2022 | -9.5% | -6.2% |
| 2023 | +43.5% | +6.3% |
| 2024 | +14.7% | -8.5% |
| 2025 | -7.9% | -15.4% |
| 2026 | -3.4% | +10.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OBDC and WHF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OBDC and WHF?
The OBDC/WHF correlation stands at 0.48 on a 3-year window (1 year: 0.50, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is WHF a good diversifier for OBDC?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: OBDC correlations · WHF correlations
