PMT vs. REFI
PMT (PennyMac Mortgage Investment Trust) and REFI (Chicago Atlantic Real Estate Finance, Inc.) are both stocks. Both operate in the REIT - Mortgage industry within the Real Estate sector. Over the past 3 years, PMT returned 5.47%/yr vs 3.02%/yr for REFI. At a 0.38 correlation, their price movements are largely independent.
Performance
PMT vs. REFI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PMT achieves a -10.83% return, which is significantly lower than REFI's -2.68% return.
PMT
- 1D
- 1.89%
- 1M
- 3.03%
- YTD
- -10.83%
- 6M
- -12.41%
- 1Y
- -0.41%
- 3Y*
- 5.47%
- 5Y*
- -0.97%
- 10Y*
- 7.38%
REFI
- 1D
- 3.06%
- 1M
- 0.53%
- YTD
- -2.68%
- 6M
- -4.63%
- 1Y
- -6.81%
- 3Y*
- 3.02%
- 5Y*
- —
- 10Y*
- —
PMT vs. REFI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PMT PennyMac Mortgage Investment Trust | -10.83% | 13.23% | -5.38% | 36.11% | -18.07% | -2.79% |
REFI Chicago Atlantic Real Estate Finance, Inc. | -2.68% | -8.70% | 8.69% | 23.70% | 3.35% | 1.52% |
Correlation
The correlation between PMT and REFI is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2021 | 0.38 |
The correlation between PMT and REFI shifts across timeframes, from 0.38 (all time) to 0.49 (3 years), reflecting how their relationship changes across market environments.
Fundamentals
PMT:
$892.59M
REFI:
$245.99M
PMT:
$1.52
REFI:
$226.63
PMT:
6.74
REFI:
0.05
PMT:
0.05
REFI:
0.00
PMT:
0.84
REFI:
5.54
PMT:
0.48
REFI:
0.00
PMT:
$1.06B
REFI:
$44.35M
PMT:
$946.50M
REFI:
$42.41M
PMT:
$966.77M
REFI:
$8.16M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PMT vs. REFI — Risk / Return Rank
PMT
REFI
PMT vs. REFI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PennyMac Mortgage Investment Trust (PMT) and Chicago Atlantic Real Estate Finance, Inc. (REFI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PMT | REFI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.97 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | -0.46 | +0.45 |
| Martin ratioReturn relative to average drawdown | -0.04 | -0.82 | +0.78 |
Loading charts...
Drawdowns
PMT vs. REFI - Drawdown Comparison
The maximum PMT drawdown since its inception was -75.90%, which is greater than REFI's maximum drawdown of -26.55%. Use the drawdown chart below to compare losses from any high point for PMT and REFI.
Loading charts...
Drawdown Indicators
| PMT | REFI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.90% | -26.55% | -49.35% |
Max Drawdown (1Y)Largest decline over 1 year | -26.14% | -14.71% | -11.43% |
Max Drawdown (3Y)Largest decline over 3 years | -26.14% | -19.25% | -6.89% |
Max Drawdown (5Y)Largest decline over 5 years | -39.81% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -75.90% | — | — |
Current DrawdownCurrent decline from peak | -18.97% | -15.63% | -3.34% |
Average DrawdownAverage peak-to-trough decline | -11.58% | -9.93% | -1.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.55% | 8.28% | +2.27% |
Volatility
PMT vs. REFI - Volatility Comparison
PennyMac Mortgage Investment Trust (PMT) has a higher volatility of 9.67% compared to Chicago Atlantic Real Estate Finance, Inc. (REFI) at 6.25%. This indicates that PMT's price experiences larger fluctuations and is considered to be riskier than REFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PMT | REFI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.67% | 6.25% | +3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 23.16% | 16.18% | +6.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.40% | 23.78% | +3.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.72% | 24.32% | +5.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.24% | 24.32% | +20.92% |
Dividends
PMT vs. REFI - Dividend Comparison
PMT's dividend yield for the trailing twelve months is around 20.79%, more than REFI's 16.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMT PennyMac Mortgage Investment Trust | 20.79% | 12.75% | 12.71% | 10.70% | 14.61% | 10.85% | 8.64% | 8.43% | 10.10% | 11.70% | 11.48% | 14.15% |
REFI Chicago Atlantic Real Estate Finance, Inc. | 16.42% | 15.33% | 13.36% | 13.41% | 13.93% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
PMT vs. REFI - Financials Comparison
This section allows you to compare key financial metrics between PennyMac Mortgage Investment Trust and Chicago Atlantic Real Estate Finance, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
PMT and REFI have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMT has higher volatility (9.67%) compared to REFI (6.25%). In terms of maximum drawdown, PMT dropped -75.90% vs REFI's -26.55%.
PMT currently has the higher Sharpe Ratio (-0.01 vs -0.29), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for PMT and REFI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer