GPMT vs PDM: Correlation
Granite Point Mortgage Trust Inc. (GPMT) and Piedmont Realty Trust, Inc. (PDM) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPMT and PDM?
On 3 years of weekly data the GPMT/PDM correlation comes out at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 905.5 %².
Within GPMT's tracked universe of 13 assets, PDM comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PDM ahead by 72.8 points (-56.8% versus +16.0%).
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 PDM: side by side
| GPMT (Granite Point Mortgage Trust Inc.) | PDM (Piedmont Realty Trust, Inc.) | |
|---|---|---|
| 1-year return | -56.8% | +16.0% |
| 5-year return | -86.4% | -29.9% |
| Volatility (ann.) | 47.2% | 35.3% |
| Beta vs S&P 500 | 1.20 | 0.95 |
| Max drawdown (3Y) | -78.6% | -46.4% |
| Market cap | $0.1B | $1.2B |
| P/E (trailing) | – | – |
| Dividend yield | 19.05% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GPMT | PDM |
|---|---|---|
| 2022 | -48.3% | -46.8% |
| 2023 | +28.8% | -14.8% |
| 2024 | -49.0% | +37.2% |
| 2025 | -7.0% | -7.3% |
| 2026 | -51.8% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPMT and PDM good diversifiers for each other?
Only partially. A correlation of 0.54 means GPMT and PDM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GPMT and PDM?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.57 over the last year and 0.54 over 5 years.
Is PDM a good diversifier for GPMT?
Only partially. A correlation of 0.54 means GPMT and PDM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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-pdm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gpmt-vs-pdm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GPMT correlations · PDM correlations
