AGM vs GPMT: Correlation
How closely do Federal Agricultural Mortgage Corporation (AGM) and Granite Point Mortgage Trust Inc. (GPMT) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGM and GPMT?
Across a 3-year window, the weekly returns of AGM and GPMT correlate at 0.55, moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Stretching to 5 years gives 0.52, with an annualized covariance of 785.4 %².
Within AGM's tracked universe of 16 assets, GPMT comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AGM ahead by 68.2 points (+11.4% versus -56.8%). Risk is not evenly split, since GPMT carries 1.6 times the volatility of the other side.
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.
AGM vs GPMT: side by side
| AGM (Federal Agricultural Mortgage Corporation) | GPMT (Granite Point Mortgage Trust Inc.) | |
|---|---|---|
| 1-year return | +11.4% | -56.8% |
| 5-year return | +167.7% | -86.4% |
| Volatility (ann.) | 30.2% | 47.2% |
| Beta vs S&P 500 | 0.85 | 1.20 |
| Max drawdown (3Y) | -32.5% | -78.6% |
| Market cap | $2.4B | $0.1B |
| P/E (trailing) | 11.9 | – |
| Dividend yield | 2.84% | 19.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGM | GPMT |
|---|---|---|
| 2022 | -5.8% | -48.3% |
| 2023 | +74.6% | +28.8% |
| 2024 | +6.1% | -49.0% |
| 2025 | -8.0% | -7.0% |
| 2026 | +29.3% | -51.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGM and GPMT good diversifiers for each other?
Only partially. A correlation of 0.55 means AGM and GPMT 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 AGM and GPMT?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.47 over the last year and 0.52 over 5 years.
Is GPMT a good diversifier for AGM?
Only partially. A correlation of 0.55 means AGM and GPMT 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?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/agm-vs-gpmt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/agm-vs-gpmt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AGM correlations · GPMT correlations
