GPMT vs PODD: Correlation
How closely do Granite Point Mortgage Trust Inc. (GPMT) and Insulet Corporation (PODD) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPMT and PODD?
On 3 years of weekly data the GPMT/PODD correlation comes out at 0.41, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.41 over 3. The 5-year figure is 0.34, and annualized covariance runs at 745.0 %².
Within GPMT's tracked universe of 13 assets, PODD comes in at #6 by 3-year correlation. Their 12-month results are close: -56.8% for GPMT against -57.1% for PODD.
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 PODD: side by side
| GPMT (Granite Point Mortgage Trust Inc.) | PODD (Insulet Corporation) | |
|---|---|---|
| 1-year return | -56.8% | -57.1% |
| 5-year return | -86.4% | -51.6% |
| Volatility (ann.) | 47.2% | 38.9% |
| Beta vs S&P 500 | 1.20 | 0.67 |
| Max drawdown (3Y) | -78.6% | -62.2% |
| Market cap | $0.1B | $9.9B |
| P/E (trailing) | – | 26.9 |
| Dividend yield | 19.05% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | GPMT | PODD |
|---|---|---|
| 2022 | -48.3% | +10.6% |
| 2023 | +28.8% | -26.3% |
| 2024 | -49.0% | +20.3% |
| 2025 | -7.0% | +8.9% |
| 2026 | -51.8% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPMT and PODD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between GPMT and PODD?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.40 over the last year and 0.34 over 5 years.
Is PODD a good diversifier for GPMT?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/gpmt-vs-podd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gpmt-vs-podd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GPMT correlations · PODD correlations
