MITT vs STWD: Correlation
How closely do TPG Mortgage Investment Trust, Inc. (MITT) and STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc. (STWD) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MITT and STWD?
Across a 3-year window, the weekly returns of MITT and STWD correlate at 0.63, strong. Recent behaviour matches the longer record: 0.58 over 1 year against 0.63 over 3. Stretching to 5 years gives 0.64, with an annualized covariance of 351.4 %².
Few assets follow MITT as closely as STWD, which ranks #2 of 13 tracked partners. On 12-month performance MITT holds a 12.1-point edge, +0.3% against -11.8%.
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 STWD: side by side
| MITT (TPG Mortgage Investment Trust, Inc.) | STWD (STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc.) | |
|---|---|---|
| 1-year return | +0.3% | -11.8% |
| 5-year return | +11.0% | +0.5% |
| Volatility (ann.) | 28.8% | 19.3% |
| Beta vs S&P 500 | 0.75 | 0.65 |
| Max drawdown (3Y) | -26.9% | -15.8% |
| Market cap | $0.2B | $6.1B |
| P/E (trailing) | 8.9 | 27.0 |
| Dividend yield | 13.86% | 12.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MITT | STWD |
|---|---|---|
| 2022 | -41.0% | -17.3% |
| 2023 | +35.8% | +26.7% |
| 2024 | +17.1% | -0.6% |
| 2025 | +42.8% | +4.9% |
| 2026 | -16.7% | -6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MITT and STWD good diversifiers for each other?
Only partially. A correlation of 0.63 means MITT and STWD 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 STWD?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.58 over the last year and 0.64 over 5 years.
Is STWD a good diversifier for MITT?
Only partially. A correlation of 0.63 means MITT and STWD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/mitt-vs-stwd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mitt-vs-stwd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MITT correlations · STWD correlations
