NexPoint Strategic Correlations

NXDT Stock

USD 3.77 0.19 4.80%

The current 90-days correlation between NexPoint Strategic and Modiv Inc is 0.34 (i.e., Weak diversification). The correlation of NexPoint Strategic 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 Strategic Correlation With Market

Very weak diversification

The correlation between NexPoint Strategic Opportuniti and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NexPoint Strategic Opportuniti and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NexPoint Strategic Opportunities. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with NexPoint Stock

0.77	CWK	Cushman Wakefield plc	Pair Corr
0.78	FSV	FirstService Corp	Pair Corr
0.78	MAYS	J W Mays	Pair Corr
0.84	RMAX	Re Max Holding	Pair Corr
0.68	CIGI	Colliers International	Pair Corr
0.91	PK	Park Hotels Resorts	Pair Corr
0.81	RC	Ready Capital Corp	Pair Corr
0.81	UE	Urban Edge Properties	Pair Corr
0.62	EARN	Ellington Residential	Pair Corr

Moving against NexPoint Stock

0.91	AHT-PD	Ashford Hospitality Trust	Pair Corr
0.88	AHT-PI	Ashford Hospitality Trust	Pair Corr
0.85	AHT-PH	Ashford Hospitality Trust	Pair Corr
0.85	AHT-PG	Ashford Hospitality Trust	Pair Corr
0.84	DX	Dynex Capital	Pair Corr
0.84	AHT-PF	Ashford Hospitality Trust	Pair Corr
0.82	O	Realty Income	Pair Corr
0.7	FR	First Industrial Realty	Pair Corr
0.56	WY	Weyerhaeuser	Pair Corr
0.82	VICI	VICI Properties	Pair Corr
0.82	CDR-PB	Cedar Realty Trust	Pair Corr
0.81	MITT-PC	AG Mortgage Investment	Pair Corr
0.81	WELL	Welltower	Pair Corr
0.81	CDR-PC	Cedar Realty Trust	Pair Corr
0.79	NREF-PA	NexPoint Real Estate	Pair Corr
0.78	ELME	Elme Communities	Pair Corr
0.78	FBRT	Franklin BSP Realty	Pair Corr
0.73	MITT-PA	AG Mortgage Investment	Pair Corr
0.67	FCPT	Four Corners Property	Pair Corr

Related Correlations Analysis

	MDV	GOODN	CTO	BNL	GIPR	OLP	MDV-PA	RTLPP	AHH
MDV		0.31	-0.07	0.66	-0.62	0.5	0.23	0.0	-0.61	MDV
GOODN	0.31		-0.02	0.52	-0.44	-0.11	0.01	0.0	-0.62	GOODN
CTO	-0.07	-0.02		-0.57	0.36	-0.07	0.05	0.0	0.33	CTO
BNL	0.66	0.52	-0.57		-0.7	0.33	0.21	0.0	-0.81	BNL
GIPR	-0.62	-0.44	0.36	-0.7		-0.11	-0.08	0.0	0.78	GIPR
OLP	0.5	-0.11	-0.07	0.33	-0.11		0.32	0.0	-0.07	OLP
MDV-PA	0.23	0.01	0.05	0.21	-0.08	0.32		0.0	-0.19	MDV-PA
RTLPP	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	RTLPP
AHH	-0.61	-0.62	0.33	-0.81	0.78	-0.07	-0.19	0.0		AHH
	MDV	GOODN	CTO	BNL	GIPR	OLP	MDV-PA	RTLPP	AHH

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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

AHH	+ 0.78	GIPR
BNL	+ 0.66	MDV
BNL	+ 0.52	GOODN
OLP	+ 0.5	MDV
GIPR	+ 0.36	CTO
AHH	+ 0.33	CTO

High negative correlations

AHH	- 0.81	BNL
GIPR	- 0.7	BNL
AHH	- 0.62	GOODN
GIPR	- 0.62	MDV
AHH	- 0.61	MDV
BNL	- 0.57	CTO

Risk-Adjusted Indicators

There is a big difference between NexPoint Stock performing well and NexPoint Strategic 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 Strategic'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
MDV	1.51	0.08	0.05	0.04	1.83	(1.65)	3.14	(3.58)	11.04
GOODN	0.60	0.07	0.15	1.46	0.71	(0.68)	1.34	(0.88)	4.42
CTO	1.02	0.06	0.04	0.02	1.63	(0.96)	1.95	(2.04)	7.86
BNL	1.05	0.13	0.16	(0.89)	1.11	(1.20)	2.15	(2.29)	5.41
GIPR	1.66	(0.09)	0.00	(0.17)	0.00	0.00	3.51	(3.68)	20.07
OLP	1.08	0.01	0.00	(0.04)	0.00	0.00	1.95	(2.81)	6.25
MDV-PA	0.52	0.01	0.10	(3.37)	0.60	(0.59)	1.29	(1.25)	2.91
RTLPP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AHH	1.25	(0.35)	0.00	(0.43)	0.00	0.00	2.13	(2.50)	14.97

NexPoint Strategic Corporate Management

Ethan Powell	Independent Chairman of the Board of the Trustees	Profile
Jason Post	Chief Compliance Officer, Anti-Money Laundering Officer	Profile
Edward Constantino	Independent Trustee	Profile
Frank CPA	Principal Treasurer	Profile

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