BXMT vs CMTG: Correlation
How closely do Blackstone Mortgage Trust, Inc. (BXMT) and Claros Mortgage Trust, Inc. (CMTG) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXMT and CMTG?
Across a 3-year window, the weekly returns of BXMT and CMTG correlate at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Stretching to 5 years gives 0.49, with an annualized covariance of 772.4 %².
By 3-year correlation, CMTG places #7 of the 12 assets tracked against BXMT. Their recent paths diverged sharply: over the last 12 months BXMT outperformed by 31.4 percentage points (-21.3% for BXMT against -52.7% for CMTG). Risk is not evenly split, since CMTG carries 2.4 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.
BXMT vs CMTG: side by side
| BXMT (Blackstone Mortgage Trust, Inc.) | CMTG (Claros Mortgage Trust, Inc.) | |
|---|---|---|
| 1-year return | -21.3% | -52.7% |
| 5-year return | -28.8% | -87.0% |
| Volatility (ann.) | 25.8% | 62.4% |
| Beta vs S&P 500 | 0.63 | 0.90 |
| Max drawdown (3Y) | -29.8% | -87.6% |
| Market cap | $2.3B | $0.2B |
| P/E (trailing) | 172.6 | – |
| Dividend yield | 13.51% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BXMT | CMTG |
|---|---|---|
| 2022 | -24.0% | -1.4% |
| 2023 | +13.5% | +2.8% |
| 2024 | -7.9% | -64.4% |
| 2025 | +21.1% | -32.3% |
| 2026 | -24.0% | -46.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXMT and CMTG good diversifiers for each other?
Reasonably. At 0.48, BXMT and CMTG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BXMT and CMTG?
The BXMT/CMTG correlation stands at 0.48 on a 3-year window (1 year: 0.58, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is CMTG a good diversifier for BXMT?
Reasonably. At 0.48, BXMT and CMTG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/bxmt-vs-cmtg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bxmt-vs-cmtg/)
The core API is free. Terms and every endpoint in the API documentation.
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Hubs: BXMT correlations · CMTG correlations
