PFLT vs SAR: Correlation
PennantPark Floating Rate Capital Ltd. (PFLT) and Saratoga Investment Corp New (SAR) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFLT and SAR?
Over the past 3 years, PFLT and SAR moved with a correlation of 0.60, which is strong. Recent behaviour matches the longer record: 0.56 over 1 year against 0.60 over 3. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 273.2 %².
Among the 18 assets we track against PFLT, SAR ranks #9 by 3-year correlation. Twelve-month performance is nearly a tie, at -16.0% for PFLT and -17.2% for SAR.
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 SAR: side by side
| PFLT (PennantPark Floating Rate Capital Ltd.) | SAR (Saratoga Investment Corp New) | |
|---|---|---|
| 1-year return | -16.0% | -17.2% |
| 5-year return | +1.5% | +15.2% |
| Volatility (ann.) | 20.1% | 22.7% |
| Beta vs S&P 500 | 0.69 | 0.53 |
| Max drawdown (3Y) | -28.4% | -24.5% |
| Market cap | $0.7B | $0.3B |
| P/E (trailing) | 14.6 | 18.7 |
| Dividend yield | 16.43% | 16.29% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFLT | SAR |
|---|---|---|
| 2022 | -5.5% | -3.8% |
| 2023 | +23.1% | +12.9% |
| 2024 | +0.7% | +6.1% |
| 2025 | -4.1% | +10.4% |
| 2026 | -12.0% | -13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFLT and SAR good diversifiers for each other?
Only partially. A correlation of 0.60 means PFLT and SAR 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 PFLT and SAR?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.56 over the last year and 0.57 over 5 years.
Is SAR a good diversifier for PFLT?
Only partially. A correlation of 0.60 means PFLT and SAR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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
$ curl https://www.pairbook.io/api/v1/pairs/pflt-vs-sar.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pflt-vs-sar/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PFLT correlations · SAR correlations
