Granite Point Correlations
| GPMT-PA Preferred Stock | 17.39 0.07 0.40% |
The current 90-days correlation between Granite Point Mortgage and PennyMac Mortgage Investment is 0.19 (i.e., Average 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
Average diversification
The correlation between Granite Point Mortgage and DJI is 0.13 (i.e., Average 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.
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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 against Granite Preferred Stock
| 0.53 | TRTX-PC | TPG RE Finance | PairCorr |
| 0.44 | ACR-PD | ACRES Commercial Realty | PairCorr |
| 0.4 | SACH-PA | Sachem Capital Corp Earnings Call This Week | PairCorr |
| 0.45 | CHMI-PA | Cherry Hill Mortgage | PairCorr |
Related Correlations Analysis
| 0.84 | 0.76 | 0.74 | -0.66 | PMT-PC | ||
| 0.84 | 0.75 | 0.88 | -0.75 | RITM-PD | ||
| 0.76 | 0.75 | 0.74 | -0.48 | ARR-PC | ||
| 0.74 | 0.88 | 0.74 | -0.61 | MFA-PC | ||
| -0.66 | -0.75 | -0.48 | -0.61 | RC-PE | ||
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
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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 | 0.56 | 0.03 | 0.04 | 0.25 | 0.66 | 1.20 | 3.56 | |||
| RITM-PD | 0.23 | 0.05 | 0.15 | 0.93 | 0.09 | 0.54 | 1.40 | |||
| ARR-PC | 0.58 | 0.02 | 0.02 | 0.12 | 0.98 | 1.67 | 4.92 | |||
| MFA-PC | 0.37 | 0.05 | 0.10 | 0.24 | 0.34 | 0.88 | 2.38 | |||
| RC-PE | 0.54 | (0.16) | 0.00 | (0.55) | 0.00 | 0.88 | 4.00 |
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?
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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 |