SAR vs. BXMT
SAR (Saratoga Investment Corp.) and BXMT (Blackstone Mortgage Trust, Inc.) are both stocks. SAR operates in Asset Management (Financial Services), while BXMT operates in REIT - Mortgage (Real Estate). Over the past 10 years, SAR returned 13.90%/yr vs 5.17%/yr for BXMT. At a 0.20 correlation, their price movements are largely independent.
Performance
SAR vs. BXMT - Performance Comparison
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Returns By Period
In the year-to-date period, SAR achieves a 4.97% return, which is significantly higher than BXMT's -3.50% return. Over the past 10 years, SAR has outperformed BXMT with an annualized return of 13.90%, while BXMT has yielded a comparatively lower 5.17% annualized return.
SAR
- 1D
- 0.05%
- 1M
- 0.54%
- YTD
- 4.97%
- 6M
- 4.52%
- 1Y
- 6.39%
- 3Y*
- 9.08%
- 5Y*
- 8.62%
- 10Y*
- 13.90%
BXMT
- 1D
- -0.44%
- 1M
- 0.33%
- YTD
- -3.50%
- 6M
- -5.50%
- 1Y
- 2.79%
- 3Y*
- 8.78%
- 5Y*
- -1.39%
- 10Y*
- 5.17%
SAR vs. BXMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAR Saratoga Investment Corp. | 4.97% | 10.36% | 6.07% | 12.91% | -3.82% | 51.00% | -10.92% | 34.20% | -2.78% | 20.77% |
BXMT Blackstone Mortgage Trust, Inc. | -3.50% | 21.13% | -7.90% | 13.46% | -24.03% | 20.27% | -17.83% | 25.16% | 6.95% | 15.77% |
Correlation
The correlation between SAR and BXMT is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
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 27, 2007 | 0.20 |
The correlation between SAR and BXMT shifts across timeframes, from 0.20 (all time) to 0.40 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
SAR:
$350.29M
BXMT:
$3.05B
SAR:
$2.46
BXMT:
$0.61
SAR:
8.97
BXMT:
29.71
SAR:
0.42
BXMT:
1.47
SAR:
0.01
BXMT:
2.00
SAR:
$62.82B
BXMT:
$1.54B
SAR:
$47.57M
BXMT:
$960.53M
SAR:
$1.29B
BXMT:
$957.49M
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Return for Risk
SAR vs. BXMT — Risk / Return Rank
SAR
BXMT
SAR vs. BXMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Investment Corp. (SAR) and Blackstone Mortgage Trust, Inc. (BXMT). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SAR | BXMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.04 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 0.23 | +0.23 |
| Martin ratioReturn relative to average drawdown | 1.20 | 0.51 | +0.69 |
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Drawdowns
SAR vs. BXMT - Drawdown Comparison
The maximum SAR drawdown since its inception was -90.67%, smaller than the maximum BXMT drawdown of -97.98%. Use the drawdown chart below to compare losses from any high point for SAR and BXMT.
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Drawdown Indicators
| SAR | BXMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.67% | -97.98% | +7.31% |
Max Drawdown (1Y)Largest decline over 1 year | -13.89% | -12.02% | -1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -14.38% | -23.29% | +8.91% |
Max Drawdown (5Y)Largest decline over 5 years | -26.19% | -43.02% | +16.83% |
Max Drawdown (10Y)Largest decline over 10 years | -69.89% | -67.86% | -2.03% |
Current DrawdownCurrent decline from peak | -2.90% | -35.22% | +32.32% |
Average DrawdownAverage peak-to-trough decline | -17.57% | -49.04% | +31.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.36% | 5.52% | -0.16% |
Volatility
SAR vs. BXMT - Volatility Comparison
The current volatility for Saratoga Investment Corp. (SAR) is 4.19%, while Blackstone Mortgage Trust, Inc. (BXMT) has a volatility of 7.09%. This indicates that SAR experiences smaller price fluctuations and is considered to be less risky than BXMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAR | BXMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.19% | 7.09% | -2.90% |
Volatility (6M)Calculated over the trailing 6-month period | 15.33% | 16.77% | -1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.73% | 21.91% | -2.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.55% | 27.74% | -5.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.67% | 32.66% | +5.01% |
Dividends
SAR vs. BXMT - Dividend Comparison
SAR's dividend yield for the trailing twelve months is around 17.35%, more than BXMT's 10.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BXMT Blackstone Mortgage Trust, Inc. | 10.44% | 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. | 17.35% | 14.04% | 13.80% | 10.90% | 11.02% | 6.16% | 6.57% | 6.61% | 10.35% | 10.51% | 9.12% | 14.14% |
Financials
SAR vs. BXMT - Financials Comparison
This section allows you to compare key financial metrics between Saratoga Investment Corp. and Blackstone Mortgage Trust, Inc.. 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
SAR vs. BXMT - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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%.
Frequently Asked Questions
SAR and BXMT have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BXMT has higher volatility (7.09%) compared to SAR (4.19%). In terms of maximum drawdown, SAR dropped -90.67% vs BXMT's -97.98%.
SAR currently has the higher Sharpe Ratio (0.33 vs 0.13), 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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