BXMT vs STWD: Correlation
Measured on weekly returns over the past three years, Blackstone Mortgage Trust, Inc. (BXMT) and STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc. (STWD) carry a correlation of 0.73, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXMT and STWD?
Over the past 3 years, BXMT and STWD moved with a correlation of 0.73, which is strong. The past 12 months show a weaker link (0.50) than the 3-year average (0.73). Over 5 years the correlation is 0.81, and the annualized covariance of weekly returns is 365.3 %².
Few assets follow BXMT as closely as STWD, which ranks #1 of 12 tracked partners. On 12-month performance STWD holds a 9.5-point edge, -21.3% against -11.8%.
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 STWD: side by side
| BXMT (Blackstone Mortgage Trust, Inc.) | STWD (STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc.) | |
|---|---|---|
| 1-year return | -21.3% | -11.8% |
| 5-year return | -28.8% | +0.5% |
| Volatility (ann.) | 25.8% | 19.3% |
| Beta vs S&P 500 | 0.63 | 0.65 |
| Max drawdown (3Y) | -29.8% | -15.8% |
| Market cap | $2.3B | $6.1B |
| P/E (trailing) | 172.6 | 27.0 |
| Dividend yield | 13.51% | 12.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BXMT | STWD |
|---|---|---|
| 2022 | -24.0% | -17.3% |
| 2023 | +13.5% | +26.7% |
| 2024 | -7.9% | -0.6% |
| 2025 | +21.1% | +4.9% |
| 2026 | -24.0% | -6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXMT and STWD good diversifiers for each other?
To a limited degree. At 0.73 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 BXMT and STWD?
The BXMT/STWD correlation stands at 0.73 on a 3-year window (1 year: 0.50, 5 years: 0.81), computed from weekly returns as of 2026-08-27.
Is STWD a good diversifier for BXMT?
To a limited degree. At 0.73 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 0.73 mean?
A reading of 0.73 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/bxmt-vs-stwd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bxmt-vs-stwd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BXMT correlations · STWD correlations
