BANC vs BXMT: Correlation
How closely do Banc of California, Inc. (BANC) and Blackstone Mortgage Trust, Inc. (BXMT) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BANC and BXMT?
Over the past 3 years, BANC and BXMT moved with a correlation of 0.60, which is strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Over 5 years the correlation is 0.60, and the annualized covariance of weekly returns is 515.1 %².
Within BANC's tracked universe of 14 assets, BXMT comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BANC ahead by 36.0 points (+14.7% versus -21.3%).
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.
BANC vs BXMT: side by side
| BANC (Banc of California, Inc.) | BXMT (Blackstone Mortgage Trust, Inc.) | |
|---|---|---|
| 1-year return | +14.7% | -21.3% |
| 5-year return | +18.5% | -28.8% |
| Volatility (ann.) | 33.4% | 25.8% |
| Beta vs S&P 500 | 1.08 | 0.63 |
| Max drawdown (3Y) | -31.2% | -29.8% |
| Market cap | $3.0B | $2.3B |
| P/E (trailing) | – | 172.6 |
| Dividend yield | 2.34% | 13.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BANC | BXMT |
|---|---|---|
| 2022 | -17.7% | -24.0% |
| 2023 | -13.0% | +13.5% |
| 2024 | +18.3% | -7.9% |
| 2025 | +28.0% | +21.1% |
| 2026 | -1.6% | -24.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BANC and BXMT good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BANC and BXMT?
As of 2026-08-27, the correlation of weekly returns between BANC and BXMT is 0.60 over 3 years, 0.64 over 1 year and 0.60 over 5 years.
Is BXMT a good diversifier for BANC?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 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/banc-vs-bxmt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/banc-vs-bxmt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BANC correlations · BXMT correlations
