MITT vs REFI: Correlation
TPG Mortgage Investment Trust, Inc. (MITT) and Chicago Atlantic Real Estate Finance, Inc. (REFI) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MITT and REFI?
Across a 3-year window, the weekly returns of MITT and REFI correlate at 0.49, moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.49 over 3. Stretching to 5 years gives 0.32, with an annualized covariance of 273.8 %².
Among the 13 assets we track against MITT, REFI ranks #7 by 3-year correlation. Over the last 12 months MITT came out ahead by 12.9 percentage points (+0.3% against -12.6%).
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 REFI: side by side
| MITT (TPG Mortgage Investment Trust, Inc.) | REFI (Chicago Atlantic Real Estate Finance, Inc.) | |
|---|---|---|
| 1-year return | +0.3% | -12.6% |
| 5-year return | +11.0% | +21.3% |
| Volatility (ann.) | 28.8% | 19.4% |
| Beta vs S&P 500 | 0.75 | 0.51 |
| Max drawdown (3Y) | -26.9% | -24.9% |
| Market cap | $0.2B | $0.3B |
| P/E (trailing) | 8.9 | 7.8 |
| Dividend yield | 13.86% | 17.60% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MITT | REFI |
|---|---|---|
| 2022 | -41.0% | +3.4% |
| 2023 | +35.8% | +23.7% |
| 2024 | +17.1% | +8.7% |
| 2025 | +42.8% | -8.7% |
| 2026 | -16.7% | -5.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MITT and REFI good diversifiers for each other?
Reasonably. At 0.49, MITT and REFI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MITT and REFI?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.42 over the last year and 0.32 over 5 years.
Is REFI a good diversifier for MITT?
Reasonably. At 0.49, MITT and REFI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 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/mitt-vs-refi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mitt-vs-refi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MITT correlations · REFI correlations
