OXSQ vs PFLT: Correlation
Measured on weekly returns over the past three years, Oxford Square Capital Corp. - Closed End Fund (OXSQ) and PennantPark Floating Rate Capital Ltd. (PFLT) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OXSQ and PFLT?
Over the past 3 years, OXSQ and PFLT moved with a correlation of 0.35, which is moderate. Little has changed lately, as the 1-year reading of 0.35 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 186.3 %².
Among the 20 assets we track against OXSQ, PFLT ranks #4 by 3-year correlation. Their 12-month results are close: -20.9% for OXSQ against -16.0% for PFLT.
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.
OXSQ vs PFLT: side by side
| OXSQ (Oxford Square Capital Corp. - Closed End Fund) | PFLT (PennantPark Floating Rate Capital Ltd.) | |
|---|---|---|
| 1-year return | -20.9% | -16.0% |
| 5-year return | -29.3% | +1.5% |
| Volatility (ann.) | 26.1% | 20.1% |
| Beta vs S&P 500 | 0.39 | 0.69 |
| Max drawdown (3Y) | -46.0% | -28.4% |
| Market cap | $0.1B | $0.7B |
| P/E (trailing) | – | 14.6 |
| Dividend yield | 31.11% | 16.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OXSQ | PFLT |
|---|---|---|
| 2022 | -14.4% | -5.5% |
| 2023 | +9.2% | +23.1% |
| 2024 | -1.9% | +0.7% |
| 2025 | -13.3% | -4.1% |
| 2026 | -8.5% | -12.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OXSQ and PFLT good diversifiers for each other?
Reasonably. At 0.35, OXSQ and PFLT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OXSQ and PFLT?
As of 2026-08-27, the correlation of weekly returns between OXSQ and PFLT is 0.35 over 3 years, 0.35 over 1 year and 0.43 over 5 years.
Is PFLT a good diversifier for OXSQ?
Reasonably. At 0.35, OXSQ and PFLT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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.
Use this data
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Related comparisons
Hubs: OXSQ correlations · PFLT correlations
