MITT vs NLY: Correlation
How closely do TPG Mortgage Investment Trust, Inc. (MITT) and Annaly Capital Management Inc. (NLY) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MITT and NLY?
On 3 years of weekly data the MITT/NLY correlation comes out at 0.61, strong. Recent behaviour matches the longer record: 0.61 over 1 year against 0.61 over 3. The 5-year figure is 0.69, and annualized covariance runs at 405.6 %².
Among the 13 assets we track against MITT, NLY ranks #4 by 3-year correlation. The last year tells two different stories: NLY led by 25.1 percentage points, +0.3% for MITT against +25.4% for NLY.
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.
MITT vs NLY: side by side
| MITT (TPG Mortgage Investment Trust, Inc.) | NLY (Annaly Capital Management Inc.) | |
|---|---|---|
| 1-year return | +0.3% | +25.4% |
| 5-year return | +11.0% | +30.4% |
| Volatility (ann.) | 28.8% | 22.9% |
| Beta vs S&P 500 | 0.75 | 0.81 |
| Max drawdown (3Y) | -26.9% | -26.3% |
| Market cap | $0.2B | $17.4B |
| P/E (trailing) | 8.9 | 5.6 |
| Dividend yield | 13.86% | 12.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MITT | NLY |
|---|---|---|
| 2022 | -41.0% | -21.4% |
| 2023 | +35.8% | +4.9% |
| 2024 | +17.1% | +8.1% |
| 2025 | +42.8% | +40.0% |
| 2026 | -16.7% | +10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MITT and NLY good diversifiers for each other?
Only partially. A correlation of 0.61 means MITT and NLY 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 MITT and NLY?
As of 2026-08-27, the correlation of weekly returns between MITT and NLY is 0.61 over 3 years, 0.61 over 1 year and 0.69 over 5 years.
Is NLY a good diversifier for MITT?
Only partially. A correlation of 0.61 means MITT and NLY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 mean?
A reading of 0.61 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/mitt-vs-nly.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mitt-vs-nly/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MITT correlations · NLY correlations
