BHM vs RXT: Correlation
How closely do Bluerock Homes Trust, Inc. (BHM) and Rackspace Technology, Inc. (RXT) trade together? Their weekly returns over three years give a correlation of 0.28, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHM and RXT?
On 3 years of weekly data the BHM/RXT correlation comes out at 0.28, weak. The past 12 months show a tighter link (0.42) than the 3-year average (0.28). The 5-year figure is 0.27, and annualized covariance runs at 2700.9 %².
RXT is one of the assets that tracks BHM most closely: it ranks #3 out of the 18 assets we track against BHM. Correlation aside, the last 12 months split them widely, with RXT ahead by 213.8 points (-34.5% versus +179.3%). Risk is not evenly split, since RXT carries 5.6 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.
BHM vs RXT: side by side
| BHM (Bluerock Homes Trust, Inc.) | RXT (Rackspace Technology, Inc.) | |
|---|---|---|
| 1-year return | -34.5% | +179.3% |
| 5-year return | n/a | -75.7% |
| Volatility (ann.) | 41.3% | 230.1% |
| Beta vs S&P 500 | 0.13 | 3.34 |
| Max drawdown (3Y) | -54.9% | -86.5% |
| Market cap | $0.1B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 5.85% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHM | RXT |
|---|---|---|
| 2022 | – | -78.1% |
| 2023 | -29.7% | -32.2% |
| 2024 | -5.1% | +10.5% |
| 2025 | -15.9% | -56.1% |
| 2026 | -19.4% | +248.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHM and RXT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BHM and RXT?
The BHM/RXT correlation stands at 0.28 on a 3-year window (1 year: 0.42, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is RXT a good diversifier for BHM?
Yes, to a useful degree: a correlation of 0.28 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 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/bhm-vs-rxt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bhm-vs-rxt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BHM correlations · RXT correlations
