GPMT vs JRS: Correlation
Measured on weekly returns over the past three years, Granite Point Mortgage Trust Inc. (GPMT) and Nuveen Real Estate Income Fund (JRS) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPMT and JRS?
Across a 3-year window, the weekly returns of GPMT and JRS correlate at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. Stretching to 5 years gives 0.50, with an annualized covariance of 535.3 %².
JRS is one of the assets that tracks GPMT most closely: it ranks #3 out of the 13 assets we track against GPMT. Correlation aside, the last 12 months split them widely, with JRS ahead by 71.2 points (-56.8% versus +14.4%). Note the risk asymmetry: GPMT runs 2.2 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.
GPMT vs JRS: side by side
| GPMT (Granite Point Mortgage Trust Inc.) | JRS (Nuveen Real Estate Income Fund) | |
|---|---|---|
| 1-year return | -56.8% | +14.4% |
| 5-year return | -86.4% | +13.5% |
| Volatility (ann.) | 47.2% | 21.1% |
| Beta vs S&P 500 | 1.20 | 0.79 |
| Max drawdown (3Y) | -78.6% | -25.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 19.05% | 8.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GPMT | JRS |
|---|---|---|
| 2022 | -48.3% | -35.6% |
| 2023 | +28.8% | +13.4% |
| 2024 | -49.0% | +19.7% |
| 2025 | -7.0% | -3.4% |
| 2026 | -51.8% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPMT and JRS good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GPMT and JRS?
The GPMT/JRS correlation stands at 0.54 on a 3-year window (1 year: 0.49, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is JRS a good diversifier for GPMT?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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/gpmt-vs-jrs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gpmt-vs-jrs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GPMT correlations · JRS correlations
