ARI vs BXMT: Correlation
How closely do Apollo Commercial Real Estate Finance, Inc (ARI) and Blackstone Mortgage Trust, Inc. (BXMT) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARI and BXMT?
Over the past 3 years, ARI and BXMT moved with a correlation of 0.67, which is strong. The link has loosened recently: the 1-year correlation (0.48) runs below the 3-year figure (0.67). Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 410.8 %².
In ARI's tracked universe of 10 assets, BXMT sits right near the top at #2. The last year tells two different stories: ARI led by 32.7 percentage points, +11.4% for ARI against -21.3% for BXMT.
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.
ARI vs BXMT: side by side
| ARI (Apollo Commercial Real Estate Finance, Inc) | BXMT (Blackstone Mortgage Trust, Inc.) | |
|---|---|---|
| 1-year return | +11.4% | -21.3% |
| 5-year return | +21.3% | -28.8% |
| Volatility (ann.) | 23.8% | 25.8% |
| Beta vs S&P 500 | 0.64 | 0.63 |
| Max drawdown (3Y) | -24.7% | -29.8% |
| Market cap | $0.9B | $2.3B |
| P/E (trailing) | 8.5 | 172.6 |
| Dividend yield | 14.68% | 13.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARI | BXMT |
|---|---|---|
| 2022 | -7.1% | -24.0% |
| 2023 | +24.5% | +13.5% |
| 2024 | -16.5% | -7.9% |
| 2025 | +23.8% | +21.1% |
| 2026 | +13.3% | -24.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARI and BXMT good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ARI and BXMT?
The ARI/BXMT correlation stands at 0.67 on a 3-year window (1 year: 0.48, 5 years: 0.76), computed from weekly returns as of 2026-08-27.
Is BXMT a good diversifier for ARI?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 mean?
A reading of 0.67 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ari-vs-bxmt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ari-vs-bxmt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARI correlations · BXMT correlations
