Nexpoint Residential Correlations

NXRT Stock

USD 34.01 0.29 0.85%

The current 90-days correlation between Nexpoint Residential and Community Healthcare Trust is 0.52 (i.e., Very weak diversification). The correlation of Nexpoint Residential 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.

Nexpoint Residential Correlation With Market

Very weak diversification

The correlation between Nexpoint Residential Trust and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexpoint Residential Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nexpoint Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nexpoint Residential Trust. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Nexpoint Stock

0.81	MPW	Medical Properties Trust	Pair Corr
0.91	NHI	National Health Investors	Pair Corr
0.68	OPI	Office Properties Income	Pair Corr
0.74	INVH	Invitation Homes Earnings Call This Week	Pair Corr

Moving against Nexpoint Stock

0.71	LXP	LXP Industrial Trust	Pair Corr
0.7	FSP	Franklin Street Prop	Pair Corr
0.64	BXP	Boston Properties Sell-off Trend	Pair Corr
0.64	HIW	Highwoods Properties Earnings Call This Week	Pair Corr
0.55	KRC	Kilroy Realty Corp	Pair Corr
0.54	CUZ	Cousins Properties	Pair Corr
0.54	INN	Summit Hotel Properties	Pair Corr
0.49	BDN	Brandywine Realty Trust Earnings Call This Week	Pair Corr
0.43	CIO	City Office	Pair Corr
0.41	DEI	Douglas Emmett	Pair Corr
0.37	EGP	EastGroup Properties Earnings Call This Week	Pair Corr
0.35	Z	Zillow Group Class	Pair Corr
0.35	HPP	Hudson Pacific Properties	Pair Corr
0.77	JBGS	JBG SMITH Properties	Pair Corr
0.7	CMCT	Creative Media Community	Pair Corr
0.66	PDM	Piedmont Office Realty	Pair Corr
0.64	SLG	SL Green Realty	Pair Corr
0.57	OZ	Belpointe PREP LLC	Pair Corr
0.56	SMA	SmartStop Self Storage	Pair Corr
0.81	DOUG	Douglas Elliman	Pair Corr
0.68	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.64	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.62	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.57	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.57	AHT-PD	Ashford Hospitality Trust	Pair Corr

Related Correlations Analysis

	IRT	CHCT	TRNO	NSA	UE
IRT		-0.53	-0.08	0.91	-0.47	IRT
CHCT	-0.53		0.49	-0.51	0.7	CHCT
TRNO	-0.08	0.49		-0.18	0.58	TRNO
NSA	0.91	-0.51	-0.18		-0.52	NSA
UE	-0.47	0.7	0.58	-0.52		UE
	IRT	CHCT	TRNO	NSA	UE

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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

NSA	+ 0.91	IRT
UE	+ 0.7	CHCT
UE	+ 0.58	TRNO
TRNO	+ 0.49	CHCT

High negative correlations

CHCT	- 0.53	IRT
UE	- 0.52	NSA
NSA	- 0.51	CHCT
UE	- 0.47	IRT
NSA	- 0.18	TRNO
TRNO	- 0.08	IRT

Risk-Adjusted Indicators

There is a big difference between Nexpoint Stock performing well and Nexpoint Residential 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 Nexpoint Residential'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
IRT	0.95	(0.21)	0.00	(0.15)	0.00	0.00	2.48	(2.04)	7.31
CHCT	1.27	0.02	(0.02)	0.17	1.41	(1.56)	3.21	(2.09)	9.41
TRNO	1.03	(0.07)	(0.06)	0.04	1.61	(0.94)	1.90	(2.53)	8.43
NSA	1.28	(0.08)	0.00	0.48	0.00	0.00	2.55	(2.64)	9.93
UE	1.09	0.07	0.03	0.23	1.21	(1.15)	2.51	(2.32)	7.16

Nexpoint Residential Corporate Executives

Elected by the shareholders, the Nexpoint Residential's board of directors comprises two types of representatives: Nexpoint Residential inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Nexpoint. The board's role is to monitor Nexpoint Residential's management team and ensure that shareholders' interests are well served. Nexpoint Residential'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, Nexpoint Residential's outside directors are responsible for providing unbiased perspectives on the board's policies.

Paul Richards

Executive CFO

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