NexPoint Diversified Correlations
| NXDT-PA Preferred Stock | 15.03 0.21 1.42% |
The correlation of NexPoint Diversified 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.
NexPoint Diversified Correlation With Market
Significant diversification
The correlation between NexPoint Diversified Real and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NexPoint Diversified Real and DJI in the same portfolio, assuming nothing else is changed.
NexPoint |
The ability to find closely correlated positions to NexPoint Diversified could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NexPoint Diversified when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back NexPoint Diversified - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling NexPoint Diversified Real to buy it.
Moving together with NexPoint Preferred Stock
Moving against NexPoint Preferred Stock
| 0.44 | DX | Dynex Capital | PairCorr |
| 0.4 | LB | LandBridge Company | PairCorr |
| 0.38 | O | Realty Income | PairCorr |
| 0.34 | GOODO | Gladstone Commercial Corp | PairCorr |
| 0.32 | GOODN | Gladstone Commercial Corp | PairCorr |
| 0.45 | VICI | VICI Properties Sell-off Trend | PairCorr |
| 0.41 | ELME | Elme Communities | PairCorr |
| 0.38 | AHT-PH | Ashford Hospitality Trust | PairCorr |
| 0.38 | AHT-PD | Ashford Hospitality Trust | PairCorr |
| 0.37 | AHT-PI | Ashford Hospitality Trust | PairCorr |
| 0.37 | AHT-PG | Ashford Hospitality Trust | PairCorr |
| 0.35 | MITT-PA | AG Mortgage Investment | PairCorr |
| 0.34 | VNO-PL | Vornado Realty Trust | PairCorr |
| 0.33 | AHT-PF | Ashford Hospitality Trust | PairCorr |
| 0.31 | MITT-PC | AG Mortgage Investment | PairCorr |
Related Correlations Analysis
| 0.63 | 0.77 | -0.8 | -0.88 | NXDT | ||
| 0.63 | 0.37 | -0.32 | -0.48 | PSEC-PA | ||
| 0.77 | 0.37 | -0.62 | -0.76 | RC-PE | ||
| -0.8 | -0.32 | -0.62 | 0.71 | SPNT-PB | ||
| -0.88 | -0.48 | -0.76 | 0.71 | RITM-PD | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between NexPoint Preferred Stock performing well and NexPoint Diversified 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 Diversified'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NXDT | 1.94 | (0.70) | 0.00 | (0.47) | 0.00 | 3.13 | 14.98 | |||
| PSEC-PA | 0.99 | (0.17) | 0.00 | (1.11) | 0.00 | 2.00 | 7.79 | |||
| RC-PE | 0.54 | (0.16) | 0.00 | (0.56) | 0.00 | 0.88 | 4.00 | |||
| SPNT-PB | 0.19 | 0.00 | 0.02 | (0.13) | 0.18 | 0.48 | 1.08 | |||
| RITM-PD | 0.23 | 0.05 | 0.18 | 1.13 | 0.03 | 0.57 | 1.40 |
Be your own money manager
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NexPoint Diversified Corporate Management
| Dustin Norris | Ex VP | Profile | |
| Kurtis Plumer | Portfolio Mang | Profile | |
| Frank CPA | Principal Treasurer | Profile | |
| Stephanie Vitiello | AntiMoney Officer | Profile | |
| CPA CFA | Pres Officer | Profile |