PennyMac Mortgage Investment Trust 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (PMTpA) — Stock Correlations & Overview
Over the past year, PMTpA has moved most closely with PMTpB, PMTpC, CMSA. Explore the stocks most correlated and inversely correlated with PMTpA below, along with its price, financials, and company profile.
Stocks correlated with PMTpA
Correlation of daily returns. Higher positive values move with PMTpA; negative values move opposite it. Informational only, not investment advice.
Most correlated with PMTpA
| Symbol | Company | Correlation |
|---|---|---|
| PMTpB | PennyMac Mortgage Investment Trust 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial InterestREAL ESTATE INVESTMENT TRUSTS | 0.58 |
| PMTpC | PennyMac Mortgage Investment Trust 6.75% Series C Cumulative Redeemable Preferred Shares of Beneficial InterestREAL ESTATE INVESTMENT TRUSTS | 0.39 |
| CMSA | CMS Energy Corporation 5.625% Junior Subordinated Notes due 2078ELECTRIC & OTHER SERVICES COMBINED | 0.38 |
| DTK | DTE Energy Company 2025 Series H 6.25% Junior Subordinated Debentures due 2085ELECTRIC SERVICES | 0.37 |
| SOJC | The Southern Company Series 2017B 5.25% Junior Subordinated Notes due December 1, 2077ELECTRIC SERVICES | 0.35 |
Most inversely correlated with PMTpA
| Symbol | Company | Correlation |
|---|---|---|
| QQQD | Direxion Daily Magnificent 7 Bear 1X ETF | -0.27 |
| VXZ | iPath Series B S&P 500 VIX Mid-Term Futures ETN | -0.25 |
| UVXY | ProShares Ultra VIX Short-Term Futures ETFCOMMODITY CONTRACTS BROKERS & DEALERS | -0.24 |
| UVIX | 2x Long VIX Futures ETFCOMMODITY CONTRACTS BROKERS & DEALERS | -0.24 |
| TBN | Tamboran Resources CorporationCRUDE PETROLEUM & NATURAL GAS | -0.24 |
Frequently asked questions about PMTpA correlations
- Which stocks are most correlated with PMTpA?
- Based on one year of daily returns, the stocks most correlated with PennyMac Mortgage Investment Trust 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (PMTpA) are PMTpB (0.58), PMTpC (0.39) and CMSA (0.38). 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 PMTpA?
- Over the past year, the stocks most inversely correlated with PennyMac Mortgage Investment Trust 8.125% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (PMTpA) are QQQD (-0.27), VXZ (-0.25) and UVXY (-0.24). 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 PMTpA correlations calculated?
- We compute the correlation of daily returns between PMTpA 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.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.