PFLT vs TRIN: Correlation
PennantPark Floating Rate Capital Ltd. (PFLT) and Trinity Capital Inc. (TRIN) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFLT and TRIN?
Over the past 3 years, PFLT and TRIN moved with a correlation of 0.66, which is strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 245.0 %².
Among the 18 assets we track against PFLT, TRIN ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TRIN outperformed by 51.6 percentage points (-16.0% for PFLT against +35.6% for TRIN).
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 TRIN: side by side
| PFLT (PennantPark Floating Rate Capital Ltd.) | TRIN (Trinity Capital Inc.) | |
|---|---|---|
| 1-year return | -16.0% | +35.6% |
| 5-year return | +1.5% | +139.8% |
| Volatility (ann.) | 20.1% | 18.5% |
| Beta vs S&P 500 | 0.69 | 0.56 |
| Max drawdown (3Y) | -28.4% | -15.6% |
| Market cap | $0.7B | $1.7B |
| P/E (trailing) | 14.6 | 10.7 |
| Dividend yield | 16.43% | 10.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFLT | TRIN |
|---|---|---|
| 2022 | -5.5% | -26.6% |
| 2023 | +23.1% | +54.0% |
| 2024 | +0.7% | +14.8% |
| 2025 | -4.1% | +16.0% |
| 2026 | -12.0% | +38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFLT and TRIN good diversifiers for each other?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between PFLT and TRIN?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.66 over the last year and 0.49 over 5 years.
Is TRIN a good diversifier for PFLT?
To a limited degree. At 0.66 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 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-trin.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pflt-vs-trin/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PFLT correlations · TRIN correlations
