AAT vs NXDT: Correlation
How closely do American Assets Trust, Inc. (AAT) and NexPoint Diversified Real Estate Trust (NXDT) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAT and NXDT?
Over the past 3 years, AAT and NXDT moved with a correlation of 0.43, which is moderate. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 560.3 %².
Among the 24 assets we track against AAT, NXDT ranks #17 by 3-year correlation. The last year tells two different stories: NXDT led by 43.5 percentage points, +16.2% for AAT against +59.7% for NXDT. Risk is not evenly split, since NXDT carries 1.8 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AAT vs NXDT: side by side
| AAT (American Assets Trust, Inc.) | NXDT (NexPoint Diversified Real Estate Trust) | |
|---|---|---|
| 1-year return | +16.2% | +59.7% |
| 5-year return | -24.9% | -44.2% |
| Volatility (ann.) | 26.7% | 48.6% |
| Beta vs S&P 500 | 0.74 | 0.90 |
| Max drawdown (3Y) | -38.0% | -65.1% |
| Market cap | $1.7B | $0.3B |
| P/E (trailing) | 75.0 | – |
| Dividend yield | 5.98% | 10.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAT | NXDT |
|---|---|---|
| 2022 | -26.4% | -14.0% |
| 2023 | -9.6% | -24.9% |
| 2024 | +23.3% | -15.0% |
| 2025 | -23.0% | -25.8% |
| 2026 | +22.7% | +51.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAT and NXDT good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AAT and NXDT?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.33 over the last year and 0.44 over 5 years.
Is NXDT a good diversifier for AAT?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aat-vs-nxdt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aat-vs-nxdt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AAT correlations · NXDT correlations
