Granite Point Mortgage Trust Inc. 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (GPMTpA) — Stock Correlations & Overview
Over the past year, GPMTpA has moved most closely with BNDS, SNES, PDM. Explore the stocks most correlated and inversely correlated with GPMTpA below, along with its price, financials, and company profile.
Stocks correlated with GPMTpA
Correlation of daily returns. Higher positive values move with GPMTpA; negative values move opposite it. Informational only, not investment advice.
Most correlated with GPMTpA
| Symbol | Company | Correlation |
|---|---|---|
| BNDS | Infrastructure Capital Bond Income ETF | 0.29 |
| SNES | SenesTech, Inc. Common StockAGRICULTURAL CHEMICALS | 0.28 |
| PDM | Piedmont Realty Trust, Inc.OPERATORS OF NONRESIDENTIAL BUILDINGS | 0.26 |
| BIVI | BioVie, Inc. Common StockPHARMACEUTICAL PREPARATIONS | 0.26 |
| TDUP | ThredUp Inc. Class A Common StockRETAIL-CATALOG & MAIL-ORDER HOUSES | 0.26 |
Most inversely correlated with GPMTpA
| Symbol | Company | Correlation |
|---|---|---|
| INSM | Insmed, Inc.PHARMACEUTICAL PREPARATIONS | -0.23 |
| CTNT | Cheetah Net Supply Chain Service Inc. Class A Common StockWHOLESALE-MOTOR VEHICLES & MOTOR VEHICLE PARTS & SUPPLIES | -0.22 |
| APA | APA Corporation Common StockCRUDE PETROLEUM & NATURAL GAS | -0.22 |
| MENS | Jyong Biotech Ltd. Ordinary Shares | -0.21 |
| ATNI | ATN International, IncTELEPHONE COMMUNICATIONS (NO RADIOTELEPHONE) | -0.21 |
Frequently asked questions about GPMTpA correlations
- Which stocks are most correlated with GPMTpA?
- Based on one year of daily returns, the stocks most correlated with Granite Point Mortgage Trust Inc. 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (GPMTpA) are BNDS (0.29), SNES (0.28) and PDM (0.26). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with GPMTpA?
- Over the past year, the stocks most inversely correlated with Granite Point Mortgage Trust Inc. 7.00% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (GPMTpA) are INSM (-0.23), CTNT (-0.22) and APA (-0.22). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these GPMTpA correlations calculated?
- We compute the correlation of daily returns between GPMTpA and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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