PennyMac Mortgage Investment Trust 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (PMTpB) — Stock Correlations & Overview
Over the past year, PMTpB has moved most closely with PMTpA, PMTpC, AFGC. Explore the stocks most correlated and inversely correlated with PMTpB below, along with its price, financials, and company profile.
Stocks correlated with PMTpB
Correlation of daily returns. Higher positive values move with PMTpB; negative values move opposite it. Informational only, not investment advice.
Most correlated with PMTpB
| Symbol | Company | Correlation |
|---|---|---|
| PMTpA | PennyMac Mortgage Investment Trust 8.125% Series A 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 | 0.52 |
| AFGC | American Financial Group, Inc. 5.125% Subordinated Debentures due 2059FIRE, MARINE & CASUALTY INSURANCE | 0.41 |
| CIMpC | Chimera Investment Corporation 7.75% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred StockREAL ESTATE INVESTMENT TRUSTS | 0.39 |
| PFFA | Virtus InfraCap U.S. Preferred Stock ETF | 0.39 |
Most inversely correlated with PMTpB
| Symbol | Company | Correlation |
|---|---|---|
| QQQD | Direxion Daily Magnificent 7 Bear 1X ETF | -0.28 |
| SCC | ProShares UltraShort Consumer Discretionary | -0.25 |
| QQDN | ProShares Trust ProShares UltraShort QQQ Mega | -0.24 |
| SPDN | Direxion Daily S&P 500 Bear 1X ETF | -0.24 |
| SPXS | Direxion Daily S&P 500 Bear 3x ETF | -0.24 |
Frequently asked questions about PMTpB correlations
- Which stocks are most correlated with PMTpB?
- Based on one year of daily returns, the stocks most correlated with PennyMac Mortgage Investment Trust 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (PMTpB) are PMTpA (0.58), PMTpC (0.52) and AFGC (0.41). 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 PMTpB?
- Over the past year, the stocks most inversely correlated with PennyMac Mortgage Investment Trust 8.00% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Shares of Beneficial Interest (PMTpB) are QQQD (-0.28), SCC (-0.25) and QQDN (-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 PMTpB correlations calculated?
- We compute the correlation of daily returns between PMTpB 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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