MITT vs PMT: Correlation
TPG Mortgage Investment Trust, Inc. (MITT) and PennyMac Mortgage Investment Trust (PMT) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MITT and PMT?
Across a 3-year window, the weekly returns of MITT and PMT correlate at 0.61, strong. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. Stretching to 5 years gives 0.66, with an annualized covariance of 458.1 %².
By 3-year correlation, PMT places #5 of the 13 assets tracked against MITT. The trailing year gives MITT the advantage: +0.3% versus -11.8%, a 12.1-point spread.
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 PMT: side by side
| MITT (TPG Mortgage Investment Trust, Inc.) | PMT (PennyMac Mortgage Investment Trust) | |
|---|---|---|
| 1-year return | +0.3% | -11.8% |
| 5-year return | +11.0% | -9.4% |
| Volatility (ann.) | 28.8% | 25.8% |
| Beta vs S&P 500 | 0.75 | 0.49 |
| Max drawdown (3Y) | -26.9% | -28.1% |
| Market cap | $0.2B | – |
| P/E (trailing) | 8.9 | 6.5 |
| Dividend yield | 13.86% | 17.33% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MITT | PMT |
|---|---|---|
| 2022 | -41.0% | -18.1% |
| 2023 | +35.8% | +36.1% |
| 2024 | +17.1% | -5.4% |
| 2025 | +42.8% | +13.2% |
| 2026 | -16.7% | -20.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MITT and PMT good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MITT and PMT?
As of 2026-08-27, the correlation of weekly returns between MITT and PMT is 0.61 over 3 years, 0.54 over 1 year and 0.66 over 5 years.
Is PMT a good diversifier for MITT?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
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-pmt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mitt-vs-pmt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MITT correlations · PMT correlations
