BXMT vs. SAR
BXMT (Blackstone Mortgage Trust, Inc.) and SAR (Saratoga Investment Corp.) are both stocks. BXMT operates in REIT - Mortgage (Real Estate), while SAR operates in Asset Management (Financial Services). Over the past 10 years, BXMT returned 5.06%/yr vs 13.96%/yr for SAR. At a 0.20 correlation, their price movements are largely independent.
Performance
BXMT vs. SAR - Performance Comparison
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Returns By Period
In the year-to-date period, BXMT achieves a -1.14% return, which is significantly lower than SAR's 3.64% return. Over the past 10 years, BXMT has underperformed SAR with an annualized return of 5.06%, while SAR has yielded a comparatively higher 13.96% annualized return.
BXMT
- 1D
- 2.44%
- 1M
- -3.50%
- YTD
- -1.14%
- 6M
- -1.51%
- 1Y
- 8.56%
- 3Y*
- 10.99%
- 5Y*
- -1.12%
- 10Y*
- 5.06%
SAR
- 1D
- 1.13%
- 1M
- -2.40%
- YTD
- 3.64%
- 6M
- 5.05%
- 1Y
- 5.52%
- 3Y*
- 6.99%
- 5Y*
- 8.72%
- 10Y*
- 13.96%
BXMT vs. SAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BXMT Blackstone Mortgage Trust, Inc. | -1.14% | 21.13% | -7.90% | 13.46% | -24.03% | 20.27% | -17.83% | 25.16% | 6.95% | 15.77% |
SAR Saratoga Investment Corp. | 3.64% | 10.36% | 6.07% | 12.91% | -3.82% | 51.00% | -10.92% | 34.20% | -2.78% | 20.77% |
Correlation
The correlation between BXMT and SAR is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2007 | 0.20 |
The correlation between BXMT and SAR shifts across timeframes, from 0.20 (all time) to 0.40 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
BXMT:
$3.12B
SAR:
$355.20M
BXMT:
$0.61
SAR:
$2.46
BXMT:
30.43
SAR:
9.09
BXMT:
1.50
SAR:
0.43
BXMT:
2.05
SAR:
0.01
BXMT:
$1.54B
SAR:
$62.82B
BXMT:
$960.53M
SAR:
$47.57M
BXMT:
$957.49M
SAR:
$1.29B
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Return for Risk
BXMT vs. SAR — Risk / Return Rank
BXMT
SAR
BXMT vs. SAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackstone Mortgage Trust, Inc. (BXMT) and Saratoga Investment Corp. (SAR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BXMT | SAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.06 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 0.40 | +0.32 |
| Martin ratioReturn relative to average drawdown | 1.68 | 1.02 | +0.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BXMT | SAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.40 | 0.28 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | 0.39 | -0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | 0.37 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.15 | -0.07 |
Drawdowns
BXMT vs. SAR - Drawdown Comparison
The maximum BXMT drawdown since its inception was -97.98%, which is greater than SAR's maximum drawdown of -90.51%. Use the drawdown chart below to compare losses from any high point for BXMT and SAR.
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Drawdown Indicators
| BXMT | SAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.98% | -90.51% | -7.47% |
Max Drawdown (1Y)Largest decline over 1 year | -12.02% | -13.89% | +1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -23.29% | -14.38% | -8.91% |
Max Drawdown (5Y)Largest decline over 5 years | -43.02% | -26.19% | -16.83% |
Max Drawdown (10Y)Largest decline over 10 years | -67.86% | -69.89% | +2.03% |
Current DrawdownCurrent decline from peak | -33.64% | -4.13% | -29.51% |
Average DrawdownAverage peak-to-trough decline | -49.07% | -17.25% | -31.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.11% | 5.44% | -0.33% |
Volatility
BXMT vs. SAR - Volatility Comparison
Blackstone Mortgage Trust, Inc. (BXMT) has a higher volatility of 7.68% compared to Saratoga Investment Corp. (SAR) at 5.22%. This indicates that BXMT's price experiences larger fluctuations and is considered to be riskier than SAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BXMT | SAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.68% | 5.22% | +2.46% |
Volatility (6M)Calculated over the trailing 6-month period | 16.61% | 15.15% | +1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.60% | 19.50% | +2.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.74% | 22.52% | +5.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.61% | 37.64% | -5.03% |
Dividends
BXMT vs. SAR - Dividend Comparison
BXMT's dividend yield for the trailing twelve months is around 10.19%, less than SAR's 15.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BXMT Blackstone Mortgage Trust, Inc. | 10.19% | 9.83% | 12.52% | 11.66% | 11.71% | 8.10% | 9.01% | 6.66% | 7.78% | 7.71% | 8.25% | 8.52% |
SAR Saratoga Investment Corp. | 15.62% | 14.04% | 13.80% | 10.90% | 11.02% | 6.16% | 6.57% | 6.61% | 10.35% | 10.51% | 9.12% | 14.14% |
Financials
BXMT vs. SAR - Financials Comparison
This section allows you to compare key financial metrics between Blackstone Mortgage Trust, Inc. and Saratoga Investment Corp.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
BXMT vs. SAR - Profitability Comparison
BXMT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Blackstone Mortgage Trust, Inc. reported a gross profit of 77.44M and revenue of 380.15M. Therefore, the gross margin over that period was 20.4%.
SAR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Saratoga Investment Corp. reported a gross profit of 0.00 and revenue of 62.74B. Therefore, the gross margin over that period was 0.0%.
BXMT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Blackstone Mortgage Trust, Inc. reported an operating income of 48.65M and revenue of 380.15M, resulting in an operating margin of 12.8%.
SAR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Saratoga Investment Corp. reported an operating income of 0.00 and revenue of 62.74B, resulting in an operating margin of 0.0%.
BXMT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Blackstone Mortgage Trust, Inc. reported a net income of -6.30M and revenue of 380.15M, resulting in a net margin of -1.7%.
SAR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Saratoga Investment Corp. reported a net income of 0.00 and revenue of 62.74B, resulting in a net margin of 0.0%.
Frequently Asked Questions
BXMT and SAR have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BXMT has higher volatility (7.68%) compared to SAR (5.22%). In terms of maximum drawdown, BXMT dropped -97.98% vs SAR's -90.51%.
BXMT currently has the higher Sharpe Ratio (0.40 vs 0.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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