BFS vs NXDT: Correlation
How closely do Saul Centers, Inc. (BFS) and NexPoint Diversified Real Estate Trust (NXDT) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BFS and NXDT?
Across a 3-year window, the weekly returns of BFS and NXDT correlate at 0.45, moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Stretching to 5 years gives 0.42, with an annualized covariance of 457.1 %².
Among the 17 assets we track against BFS, NXDT ranks #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NXDT outperformed by 54.0 percentage points (+5.7% for BFS against +59.7% for NXDT). Risk is not evenly split, since NXDT carries 2.3 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.
BFS vs NXDT: side by side
| BFS (Saul Centers, Inc.) | NXDT (NexPoint Diversified Real Estate Trust) | |
|---|---|---|
| 1-year return | +5.7% | +59.7% |
| 5-year return | -2.0% | -44.2% |
| Volatility (ann.) | 20.9% | 48.6% |
| Beta vs S&P 500 | 0.41 | 0.90 |
| Max drawdown (3Y) | -24.1% | -65.1% |
| Market cap | $1.2B | $0.3B |
| P/E (trailing) | 34.8 | – |
| Dividend yield | 7.01% | 10.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BFS | NXDT |
|---|---|---|
| 2022 | -19.4% | -14.0% |
| 2023 | +2.6% | -24.9% |
| 2024 | +5.0% | -15.0% |
| 2025 | -12.8% | -25.8% |
| 2026 | +11.8% | +51.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BFS and NXDT good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BFS and NXDT?
The BFS/NXDT correlation stands at 0.45 on a 3-year window (1 year: 0.40, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is NXDT a good diversifier for BFS?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
A reading of 0.45 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BFS correlations · NXDT correlations
