AGNC vs IVR: Correlation
Measured on weekly returns over the past three years, AGNC Investment Corp. (AGNC) and INVESCO MORTGAGE CAPITAL INC (IVR) carry a correlation of 0.86, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGNC and IVR?
Across a 3-year window, the weekly returns of AGNC and IVR correlate at 0.86, very strong, meaning they move nearly in lockstep. The past 12 months show a weaker link (0.72) than the 3-year average (0.86). Stretching to 5 years gives 0.79, with an annualized covariance of 646.6 %².
IVR is one of the assets that tracks AGNC most closely: it ranks #3 out of the 14 assets we track against AGNC. The trailing year gives AGNC the advantage: +28.0% versus +17.7%, a 10.3-point spread.
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.
AGNC vs IVR: side by side
| AGNC (AGNC Investment Corp.) | IVR (INVESCO MORTGAGE CAPITAL INC) | |
|---|---|---|
| 1-year return | +28.0% | +17.7% |
| 5-year return | +33.5% | -40.5% |
| Volatility (ann.) | 25.1% | 29.8% |
| Beta vs S&P 500 | 0.87 | 0.88 |
| Max drawdown (3Y) | -30.5% | -41.4% |
| Market cap | $13.0B | $0.8B |
| P/E (trailing) | 5.4 | 4.7 |
| Dividend yield | 13.32% | 19.27% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGNC | IVR |
|---|---|---|
| 2022 | -21.7% | -44.6% |
| 2023 | +10.1% | -14.3% |
| 2024 | +8.9% | +9.0% |
| 2025 | +34.9% | +24.9% |
| 2026 | +10.3% | -0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGNC and IVR good diversifiers for each other?
No. With a correlation of 0.86, AGNC and IVR move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between AGNC and IVR?
Using weekly returns as of 2026-08-27: 0.86 over 3 years, with 0.72 over the last year and 0.79 over 5 years.
Is IVR a good diversifier for AGNC?
No. With a correlation of 0.86, AGNC and IVR move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.86 mean?
On the −1 to +1 scale, 0.86 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/agnc-vs-ivr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/agnc-vs-ivr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AGNC correlations · IVR correlations
