CTRE vs NHI: Correlation
Measured on weekly returns over the past three years, CareTrust REIT, Inc. (CTRE) and National Health Investors, Inc. (NHI) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTRE and NHI?
Across a 3-year window, the weekly returns of CTRE and NHI correlate at 0.55, moderate. The link has tightened recently: the 1-year correlation (0.70) runs above the 3-year figure (0.55). Stretching to 5 years gives 0.64, with an annualized covariance of 240.6 %².
Few assets follow CTRE as closely as NHI, which ranks #3 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months CTRE outperformed by 20.5 percentage points (+18.3% for CTRE against -2.2% for NHI).
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.
CTRE vs NHI: side by side
| CTRE (CareTrust REIT, Inc.) | NHI (National Health Investors, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | -2.2% |
| 5-year return | +130.3% | +63.1% |
| Volatility (ann.) | 21.1% | 20.8% |
| Beta vs S&P 500 | 0.18 | 0.22 |
| Max drawdown (3Y) | -23.2% | -24.1% |
| Market cap | $9.3B | $3.6B |
| P/E (trailing) | 24.9 | 21.2 |
| Dividend yield | 3.63% | 5.01% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTRE | NHI |
|---|---|---|
| 2022 | -13.7% | -3.3% |
| 2023 | +27.3% | +14.6% |
| 2024 | +26.3% | +30.7% |
| 2025 | +39.4% | +15.7% |
| 2026 | +11.1% | -2.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTRE and NHI good diversifiers for each other?
To a limited degree. At 0.55 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 CTRE and NHI?
The CTRE/NHI correlation stands at 0.55 on a 3-year window (1 year: 0.70, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is NHI a good diversifier for CTRE?
To a limited degree. At 0.55 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 0.55 mean?
On the −1 to +1 scale, 0.55 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/ctre-vs-nhi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ctre-vs-nhi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CTRE correlations · NHI correlations
