SAR vs TSLX: Correlation
Saratoga Investment Corp New (SAR) and Sixth Street Specialty Lending, Inc. (TSLX) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SAR and TSLX?
Across a 3-year window, the weekly returns of SAR and TSLX correlate at 0.53, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 248.9 %².
Within SAR's tracked universe of 11 assets, TSLX comes in at #5 by 3-year correlation. Neither side won the trailing year by much: -17.2% against -15.0%.
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 TSLX: side by side
| SAR (Saratoga Investment Corp New) | TSLX (Sixth Street Specialty Lending, Inc.) | |
|---|---|---|
| 1-year return | -17.2% | -15.0% |
| 5-year return | +15.2% | +35.2% |
| Volatility (ann.) | 22.7% | 20.5% |
| Beta vs S&P 500 | 0.53 | 0.60 |
| Max drawdown (3Y) | -24.5% | -29.0% |
| Market cap | $0.3B | $1.8B |
| P/E (trailing) | 18.7 | 19.9 |
| Dividend yield | 16.29% | 10.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SAR | TSLX |
|---|---|---|
| 2022 | -3.8% | -16.4% |
| 2023 | +12.9% | +35.3% |
| 2024 | +6.1% | +8.8% |
| 2025 | +10.4% | +11.5% |
| 2026 | -13.2% | -9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SAR and TSLX good diversifiers for each other?
Only partially. A correlation of 0.53 means SAR 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 SAR and TSLX?
The SAR/TSLX correlation stands at 0.53 on a 3-year window (1 year: 0.52, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is TSLX a good diversifier for SAR?
Only partially. A correlation of 0.53 means SAR 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 0.53 mean?
On the −1 to +1 scale, 0.53 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-tslx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sar-vs-tslx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SAR correlations · TSLX correlations
