ADAM vs NREF: Correlation
Measured on weekly returns over the past three years, Adamas Trust, Inc. (ADAM) and NexPoint Real Estate Finance, Inc. (NREF) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADAM and NREF?
Over the past 3 years, ADAM and NREF moved with a correlation of 0.57, which is moderate. The link has loosened recently: the 1-year correlation (0.44) runs below the 3-year figure (0.57). Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 533.5 %².
By 3-year correlation, NREF places #6 of the 12 assets tracked against ADAM. Correlation aside, the last 12 months split them widely, with ADAM ahead by 25.2 points (+57.2% versus +32.0%).
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.
ADAM vs NREF: side by side
| ADAM (Adamas Trust, Inc.) | NREF (NexPoint Real Estate Finance, Inc.) | |
|---|---|---|
| 1-year return | +57.2% | +32.0% |
| 5-year return | +6.4% | +54.2% |
| Volatility (ann.) | 32.7% | 28.5% |
| Beta vs S&P 500 | 0.82 | 0.63 |
| Max drawdown (3Y) | -38.7% | -24.0% |
| Market cap | $0.9B | $0.4B |
| P/E (trailing) | 5.8 | 7.3 |
| Dividend yield | 9.83% | 11.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADAM | NREF |
|---|---|---|
| 2022 | -20.8% | -8.9% |
| 2023 | -5.5% | +17.4% |
| 2024 | -19.3% | +13.5% |
| 2025 | +36.5% | +2.3% |
| 2026 | +43.6% | +32.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADAM and NREF good diversifiers for each other?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ADAM and NREF?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.44 over the last year and 0.47 over 5 years.
Is NREF a good diversifier for ADAM?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/adam-vs-nref.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adam-vs-nref/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ADAM correlations · NREF correlations
