Granite Point Correlations

GPMT Stock

USD 2.45 0.05 2.00%

The current 90-days correlation between Granite Point Mortgage and AG Mortgage Investment is 0.62 (i.e., Poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Granite Point Correlation With Market

Very weak diversification

The correlation between Granite Point Mortgage and DJI is 0.52 (i.e., Very 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.

Build AI portfolio with Granite Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Granite Point Mortgage. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Granite Stock

0.75	V	Visa Class A	Pair Corr
0.83	GS	Goldman Sachs Group	Pair Corr
0.68	MA	Mastercard	Pair Corr
0.92	AMP	Ameriprise Financial Earnings Call This Week	Pair Corr
0.9	AXP	American Express	Pair Corr
0.81	COF	Capital One Financial Earnings Call This Week	Pair Corr
0.8	PWP	Perella Weinberg Partners	Pair Corr
0.69	SCM	Stellus Capital Inve	Pair Corr
0.88	GAIN	Gladstone Investment	Pair Corr
0.82	GLAD	Gladstone Capital	Pair Corr
0.76	GROW	US Global Investors	Pair Corr
0.69	HTGC	Hercules Capital	Pair Corr
0.68	LMFA	LM Funding America Upward Rally	Pair Corr
0.73	MAIN	Main Street Capital	Pair Corr
0.93	OPFI	OppFi Inc	Pair Corr
0.78	PFLT	PennantPark Floating Rate	Pair Corr
0.92	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.83	ALLY	Ally Financial	Pair Corr
0.84	APAM	Artisan Partners Asset Earnings Call This Week	Pair Corr
0.86	SEIC	SEI Investments Earnings Call This Week	Pair Corr
0.84	ARCC	Ares Capital	Pair Corr
0.65	SNTG	Sentage Holdings	Pair Corr
0.89	TPVG	Triplepoint Venture	Pair Corr
0.88	TSLX	Sixth Street Specialty	Pair Corr
0.74	CNNE	Cannae Holdings	Pair Corr
0.71	CSWC	Capital Southwest	Pair Corr

Moving against Granite Stock

0.89	EZPW	EZCORP Inc	Pair Corr
0.37	HRZN	Horizon Technology	Pair Corr
0.71	ORGN	Origin Materials	Pair Corr
0.57	PSEC	Prospect Capital	Pair Corr
0.38	AIHS	Senmiao Technology	Pair Corr
0.37	UK	Ucommune International	Pair Corr
0.36	CGBD	Carlyle Secured Lending	Pair Corr

Related Correlations Analysis

	RWT	TWO	MITT	IVR	MFA	TRTX	LADR	KREF	CHMI
RWT		0.09	0.53	0.6	0.78	0.66	0.75	0.47	0.12	RWT
TWO	0.09		-0.52	-0.13	0.19	-0.32	-0.38	0.18	0.36	TWO
MITT	0.53	-0.52		0.87	0.61	0.93	0.88	0.33	0.36	MITT
IVR	0.6	-0.13	0.87		0.79	0.92	0.82	0.4	0.55	IVR
MFA	0.78	0.19	0.61	0.79		0.72	0.66	0.46	0.54	MFA
TRTX	0.66	-0.32	0.93	0.92	0.72		0.95	0.56	0.4	TRTX
LADR	0.75	-0.38	0.88	0.82	0.66	0.95		0.51	0.19	LADR
KREF	0.47	0.18	0.33	0.4	0.46	0.56	0.51		0.41	KREF
CHMI	0.12	0.36	0.36	0.55	0.54	0.4	0.19	0.41		CHMI
	RWT	TWO	MITT	IVR	MFA	TRTX	LADR	KREF	CHMI

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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

LADR	+ 0.95	TRTX
TRTX	+ 0.93	MITT
TRTX	+ 0.92	IVR
LADR	+ 0.88	MITT
IVR	+ 0.87	MITT
LADR	+ 0.82	IVR

High negative correlations

MITT	- 0.52	TWO
LADR	- 0.38	TWO
TRTX	- 0.32	TWO
IVR	- 0.13	TWO

Risk-Adjusted Indicators

There is a big difference between Granite 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
RWT	1.36	0.15	0.08	0.28	1.61	(1.52)	2.55	(2.13)	12.96
TWO	1.50	(0.01)	0.00	0.19	0.00	0.00	2.58	(3.68)	8.96
MITT	1.51	0.28	0.15	0.42	1.49	(1.78)	4.18	(2.69)	9.42
IVR	1.10	0.30	0.10	(20.36)	1.23	(1.21)	2.73	(1.99)	9.73
MFA	1.13	0.04	0.02	0.18	1.54	(1.26)	2.30	(1.96)	10.44
TRTX	1.10	0.15	0.09	0.31	1.14	(1.23)	2.69	(2.16)	7.03
LADR	0.79	0.06	0.02	0.22	1.01	(0.80)	1.62	(1.55)	5.65
KREF	1.23	(0.10)	(0.05)	0.03	1.78	(1.17)	2.11	(2.56)	9.13
CHMI	1.45	(0.05)	(0.04)	0.07	1.85	(1.57)	3.36	(3.86)	11.23

Granite Point Corporate Executives

Elected by the shareholders, the Granite Point's board of directors comprises two types of representatives: Granite Point inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Granite. The board's role is to monitor Granite Point's management team and ensure that shareholders' interests are well served. Granite Point's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Granite Point's outside directors are responsible for providing unbiased perspectives on the board's policies.

Blake Johnson

CFO VP

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