PFLT vs PNNT: Correlation
PennantPark Floating Rate Capital Ltd. (PFLT) and PennantPark Investment Corporation (PNNT) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFLT and PNNT?
Across a 3-year window, the weekly returns of PFLT and PNNT correlate at 0.72, strong. Little has changed lately, as the 1-year reading of 0.73 lands near the 3-year figure. Stretching to 5 years gives 0.68, with an annualized covariance of 312.9 %².
PNNT is one of the assets that tracks PFLT most closely: it ranks #3 out of the 18 assets we track against PFLT. Their recent paths diverged sharply: over the last 12 months PFLT outperformed by 20.4 percentage points (-16.0% for PFLT against -36.4% for PNNT).
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.
PFLT vs PNNT: side by side
| PFLT (PennantPark Floating Rate Capital Ltd.) | PNNT (PennantPark Investment Corporation) | |
|---|---|---|
| 1-year return | -16.0% | -36.4% |
| 5-year return | +1.5% | +13.8% |
| Volatility (ann.) | 20.1% | 21.6% |
| Beta vs S&P 500 | 0.69 | 0.61 |
| Max drawdown (3Y) | -28.4% | -47.6% |
| Market cap | $0.7B | $0.2B |
| P/E (trailing) | 14.6 | 24.9 |
| Dividend yield | 16.43% | 21.28% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFLT | PNNT |
|---|---|---|
| 2022 | -5.5% | -8.9% |
| 2023 | +23.1% | +37.3% |
| 2024 | +0.7% | +16.6% |
| 2025 | -4.1% | -3.0% |
| 2026 | -12.0% | -27.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFLT and PNNT good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PFLT and PNNT?
As of 2026-08-27, the correlation of weekly returns between PFLT and PNNT is 0.72 over 3 years, 0.73 over 1 year and 0.68 over 5 years.
Is PNNT a good diversifier for PFLT?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 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/pflt-vs-pnnt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pflt-vs-pnnt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PFLT correlations · PNNT correlations
