AGNC vs ORC: Correlation
How closely do AGNC Investment Corp. (AGNC) and Orchid Island Capital, Inc. (ORC) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGNC and ORC?
Across a 3-year window, the weekly returns of AGNC and ORC correlate at 0.81, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. Stretching to 5 years gives 0.78, with an annualized covariance of 534.4 %².
By 3-year correlation, ORC places #5 of the 14 assets tracked against AGNC. Over the last 12 months AGNC came out ahead by 12.3 percentage points (+28.0% against +15.7%).
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 ORC: side by side
| AGNC (AGNC Investment Corp.) | ORC (Orchid Island Capital, Inc.) | |
|---|---|---|
| 1-year return | +28.0% | +15.7% |
| 5-year return | +33.5% | -33.9% |
| Volatility (ann.) | 25.1% | 26.1% |
| Beta vs S&P 500 | 0.87 | 0.84 |
| Max drawdown (3Y) | -30.5% | -36.6% |
| Market cap | $13.0B | $1.3B |
| P/E (trailing) | 5.4 | 3.8 |
| Dividend yield | 13.32% | 20.69% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGNC | ORC |
|---|---|---|
| 2022 | -21.7% | -44.3% |
| 2023 | +10.1% | -3.1% |
| 2024 | +8.9% | +9.9% |
| 2025 | +34.9% | +12.7% |
| 2026 | +10.3% | +4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGNC and ORC good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between AGNC and ORC?
Using weekly returns as of 2026-08-27: 0.81 over 3 years, with 0.74 over the last year and 0.78 over 5 years.
Is ORC a good diversifier for AGNC?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 mean?
On the −1 to +1 scale, 0.81 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-orc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/agnc-vs-orc/)
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Related comparisons
Hubs: AGNC correlations · ORC correlations
