CIM vs STWD: Correlation
Measured on weekly returns over the past three years, Chimera Investment Corporation (CIM) and STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc. (STWD) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIM and STWD?
Over the past 3 years, CIM and STWD moved with a correlation of 0.66, which is strong. The past 12 months show a weaker link (0.44) than the 3-year average (0.66). Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 373.7 %².
Within CIM's tracked universe of 11 assets, STWD comes in at #4 by 3-year correlation. Their 12-month results are close: -6.9% for CIM against -11.8% for STWD. Note the risk asymmetry: CIM runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CIM vs STWD: side by side
| CIM (Chimera Investment Corporation) | STWD (STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc.) | |
|---|---|---|
| 1-year return | -6.9% | -11.8% |
| 5-year return | -54.1% | +0.5% |
| Volatility (ann.) | 29.4% | 19.3% |
| Beta vs S&P 500 | 0.76 | 0.65 |
| Max drawdown (3Y) | -33.1% | -15.8% |
| Market cap | $1.0B | $6.1B |
| P/E (trailing) | – | 27.0 |
| Dividend yield | 14.29% | 12.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIM | STWD |
|---|---|---|
| 2022 | -57.9% | -17.3% |
| 2023 | +2.9% | +26.7% |
| 2024 | +3.6% | -0.6% |
| 2025 | -0.6% | +4.9% |
| 2026 | -0.7% | -6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIM and STWD good diversifiers for each other?
To a limited degree. At 0.66 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 CIM and STWD?
The CIM/STWD correlation stands at 0.66 on a 3-year window (1 year: 0.44, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is STWD a good diversifier for CIM?
To a limited degree. At 0.66 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 0.66 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/cim-vs-stwd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cim-vs-stwd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CIM correlations · STWD correlations
