MSDL Morgan Stanley Direct Lending Fund

Last close: 13.62
504-day return: -14.02%
Median $/day: $8.7M
Relationships shown: 11
Leader rank: #711

together opposite · bar = ρ at each lag, −10 … 0 … +10 days · holdout ρ · click a card for the full picture

MSDL vs PBDC

Both indexed to 100 at 2026-05-11.

MSDL PBDC · range 90–108 · 2026-05-11 → 2026-11-06

Follows MSDL

These tend to repeat MSDL's moves later.

EP Empire Petroleum Corporation

lag 1dρ -0.21holdout -0.22stable 88%$/day $129krobust

Moves with MSDL

Same day, ranked by what's left after the market and sector factors are removed ("beyond mkt").

PBDC Putnam BDC Income ETF

ρ +0.74beyond mkt +0.60holdout +0.83stable 100%robust

FSK FS KKR Capital Corp. Common Stock

ρ +0.66beyond mkt +0.50holdout +0.70stable 100%robust

BXSL Blackstone Secured Lending Fund

ρ +0.64beyond mkt +0.50holdout +0.72stable 100%robust

BCSF Bain Capital Specialty Finance, Inc.

ρ +0.66beyond mkt +0.49holdout +0.77stable 100%robust

NCDL Nuveen Churchill Direct Lending Corp

ρ +0.65beyond mkt +0.49holdout +0.79stable 100%robust

GBDC Golub Capital BDC, Inc. Common Stock

ρ +0.65beyond mkt +0.48holdout +0.75stable 100%robust

Moves against MSDL

VXX iPath Series B S&P 500 VIX Short-Term Futures ETN

ρ -0.32beyond mkt +0.00holdout -0.31stable 88%robust

Weekly, not daily

No day-to-day relationship, but 5- or 10-day returns move together.

CDXS Codexis, Inc. Common Stock

horizon 10dρ +0.42holdout +0.31stable 88%robust

DSU Blackrock Debt Strategies Fund, Inc.

horizon 10dρ +0.39holdout +0.61stable 62%moderate

FSCO FS Credit Opportunities Corp.

horizon 5dρ +0.33holdout +0.29stable 75%robust

Changed this quarter

Biggest shifts in same-day correlation over the last 63 trading days versus the year before.

APT Alpha Pro Tech, Ltd.

Δ +0.55recent +0.62prior +0.07beyond mkt -0.06

RSBT Return Stacked Bonds & Managed Futures ETF

Δ -0.52recent -0.36prior +0.15beyond mkt -0.08

DBMF iMGP DBi Managed Futures Strategy ETF

Δ -0.50recent -0.37prior +0.12beyond mkt -0.01

BTA Beacon Tactical Alternatives Risk ETF

Δ -0.45recent -0.32prior +0.13beyond mkt -0.08

AHLT American Beacon AHL Trend ETF

Δ -0.44recent -0.34prior +0.10beyond mkt -0.05

MFA MFA Financial, Inc

Δ +0.41recent +0.75prior +0.34beyond mkt +0.07

Hidden links

Strong beyond-the-market co-movement with few shared neighbours.

Symbol	beyond mkt	raw ρ	shared
KBWD Invesco Exchange-Traded Fund Trust II Invesco KBW High Dividend Yield Financial ETF	+0.40	+0.65	17
FSK FS KKR Capital Corp. Common Stock	+0.50	+0.66	26
NCDL Nuveen Churchill Direct Lending Corp	+0.49	+0.65	26
OCSL Oaktree Specialty Lending Corporation Common Stock	+0.48	+0.65	26
VPC Virtus Private Credit Strategy ETF	+0.42	+0.63	26
KBDC Kayne Anderson BDC, Inc.	+0.37	+0.58	26