SAR vs TRIN: Correlation
Measured on weekly returns over the past three years, Saratoga Investment Corp New (SAR) and Trinity Capital Inc. (TRIN) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SAR and TRIN?
On 3 years of weekly data the SAR/TRIN correlation comes out at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. The 5-year figure is 0.44, and annualized covariance runs at 232.6 %².
By 3-year correlation, TRIN places #4 of the 11 assets tracked against SAR. Their recent paths diverged sharply: over the last 12 months TRIN outperformed by 52.8 percentage points (-17.2% for SAR 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.
SAR vs TRIN: side by side
| SAR (Saratoga Investment Corp New) | TRIN (Trinity Capital Inc.) | |
|---|---|---|
| 1-year return | -17.2% | +35.6% |
| 5-year return | +15.2% | +139.8% |
| Volatility (ann.) | 22.7% | 18.5% |
| Beta vs S&P 500 | 0.53 | 0.56 |
| Max drawdown (3Y) | -24.5% | -15.6% |
| Market cap | $0.3B | $1.7B |
| P/E (trailing) | 18.7 | 10.7 |
| Dividend yield | 16.29% | 10.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SAR | TRIN |
|---|---|---|
| 2022 | -3.8% | -26.6% |
| 2023 | +12.9% | +54.0% |
| 2024 | +6.1% | +14.8% |
| 2025 | +10.4% | +16.0% |
| 2026 | -13.2% | +38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SAR and TRIN good diversifiers for each other?
Only partially. A correlation of 0.55 means SAR and TRIN 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 SAR and TRIN?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.51 over the last year and 0.44 over 5 years.
Is TRIN a good diversifier for SAR?
Only partially. A correlation of 0.55 means SAR and TRIN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/sar-vs-trin.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sar-vs-trin/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SAR correlations · TRIN correlations
