Granite Point Correlations

GPMT-PA Preferred Stock

17.55 0.20 1.15%

The current 90-days correlation between Granite Point Mortgage and PennyMac Mortgage Investment is 0.09 (i.e., Significant diversification). The correlation of Granite Point is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Granite Point Correlation With Market

Weak diversification

The correlation between Granite Point Mortgage and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Granite Point Mortgage and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Granite Point could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Granite Point when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Granite Point - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Granite Point Mortgage to buy it.

Moving together with Granite Preferred Stock

0.74	MITT-PA	AG Mortgage Investment	Pair Corr
0.81	MITT-PB	AG Mortgage Investment	Pair Corr
0.82	MITT-PC	AG Mortgage Investment	Pair Corr
0.78	NREF-PA	NexPoint Real Estate	Pair Corr
0.86	LFT-PA	Lument Finance Trust	Pair Corr
0.67	ACR-PD	ACRES Commercial Realty	Pair Corr
0.83	ACR-PC	ACRES Commercial Realty	Pair Corr
0.93	GPMT	Granite Point Mortgage	Pair Corr
0.8	TRTX-PC	TPG RE Finance	Pair Corr
0.7	RC-PE	Ready Capital	Pair Corr
0.69	NLY-PI	Annaly Capital Management	Pair Corr
0.7	NLY-PF	Annaly Capital Management	Pair Corr
0.7	NLY-PG	Annaly Capital Management	Pair Corr
0.76	ABR-PF	Arbor Realty Trust	Pair Corr
0.78	ABR-PE	Arbor Realty Trust	Pair Corr
0.72	ABR-PD	Arbor Realty Trust	Pair Corr
0.81	RITM-PC	Rithm Capital Corp	Pair Corr
0.89	RITM-PD	Rithm Capital Corp	Pair Corr
0.75	RITM-PA	Rithm Capital Corp	Pair Corr
0.8	RITM-PB	Rithm Capital Corp	Pair Corr
0.69	NYMTZ	New York Mortgage	Pair Corr
0.73	NYMTN	New York Mortgage	Pair Corr
0.86	NYMTL	New York Mortgage	Pair Corr
0.79	NYMTM	New York Mortgage	Pair Corr
0.7	ARR-PC	ARMOUR Residential REIT	Pair Corr
0.83	CHMI-PA	Cherry Hill Mortgage Downward Rally	Pair Corr
0.78	CHMI-PB	Cherry Hill Mortgage	Pair Corr
0.81	TWO-PC	Two Harbors Investment	Pair Corr
0.72	TWO-PA	Two Harbors Investment	Pair Corr
0.78	MFA-PC	MFA Financial	Pair Corr

Moving against Granite Preferred Stock

0.61	MRTI	Maxus Realty Trust	Pair Corr
0.58	ECRO	Ecc Cap Corp	Pair Corr
0.41	DTLAP	Brookfield DTLA	Pair Corr
0.36	EXETF	Extendicare	Pair Corr

Related Correlations Analysis

	PMT-PC	RITM-PD	ARR-PC	MFA-PC	RC-PE
PMT-PC		0.74	0.65	0.6	0.87	PMT-PC
RITM-PD	0.74		0.81	0.84	0.76	RITM-PD
ARR-PC	0.65	0.81		0.6	0.78	ARR-PC
MFA-PC	0.6	0.84	0.6		0.53	MFA-PC
RC-PE	0.87	0.76	0.78	0.53		RC-PE
	PMT-PC	RITM-PD	ARR-PC	MFA-PC	RC-PE

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Granite Preferred Stock performing well and Granite Point Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Granite Point's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PMT-PC	0.61	0.05	(0.02)	0.32	0.74	(0.64)	1.28	(1.44)	3.68
RITM-PD	0.31	0.07	(0.02)	0.58	0.00	(0.43)	0.83	(0.50)	1.87
ARR-PC	0.48	0.05	(0.05)	(1.31)	0.72	(0.45)	1.00	(1.29)	3.96
MFA-PC	0.44	0.07	(0.03)	(18.04)	0.48	(0.53)	1.01	(0.76)	2.88
RC-PE	0.47	0.02	(0.09)	0.39	0.57	(0.53)	1.07	(1.00)	4.02

Be your own money manager

Our tools can tell you how much better you can do entering a position in Granite Point without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Portfolio Comparator Now

Portfolio Comparator

Compare the composition, asset allocations and performance of any two portfolios in your account

All Next

Launch Module

Granite Point Corporate Management

Steven Plust	VP COO	Profile
Stephen Alpart	Chief VP	Profile
Marcin CFA	CFO, VP	Profile
Chris Petta	Investor Officer	Profile
Peter Morral	Chief VP	Profile
John JD	CEO Pres	Profile
Michael Karber	Gen VP	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC