PFLT vs TSLX: Correlation
How closely do PennantPark Floating Rate Capital Ltd. (PFLT) and Sixth Street Specialty Lending, Inc. (TSLX) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFLT and TSLX?
Over the past 3 years, PFLT and TSLX moved with a correlation of 0.70, which is strong. Little has changed lately, as the 1-year reading of 0.67 lands near the 3-year figure. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 290.2 %².
By 3-year correlation, TSLX places #5 of the 18 assets tracked against PFLT. Twelve-month performance is nearly a tie, at -16.0% for PFLT and -15.0% for TSLX.
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 TSLX: side by side
| PFLT (PennantPark Floating Rate Capital Ltd.) | TSLX (Sixth Street Specialty Lending, Inc.) | |
|---|---|---|
| 1-year return | -16.0% | -15.0% |
| 5-year return | +1.5% | +35.2% |
| Volatility (ann.) | 20.1% | 20.5% |
| Beta vs S&P 500 | 0.69 | 0.60 |
| Max drawdown (3Y) | -28.4% | -29.0% |
| Market cap | $0.7B | $1.8B |
| P/E (trailing) | 14.6 | 19.9 |
| Dividend yield | 16.43% | 10.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFLT | TSLX |
|---|---|---|
| 2022 | -5.5% | -16.4% |
| 2023 | +23.1% | +35.3% |
| 2024 | +0.7% | +8.8% |
| 2025 | -4.1% | +11.5% |
| 2026 | -12.0% | -9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFLT and TSLX good diversifiers for each other?
Only partially. A correlation of 0.70 means PFLT and TSLX 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 TSLX?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.67 over the last year and 0.68 over 5 years.
Is TSLX a good diversifier for PFLT?
Only partially. A correlation of 0.70 means PFLT and TSLX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 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-tslx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pflt-vs-tslx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PFLT correlations · TSLX correlations
