DEI vs NREF: Correlation
Douglas Emmett, Inc. (DEI) and NexPoint Real Estate Finance, Inc. (NREF) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DEI and NREF?
On 3 years of weekly data the DEI/NREF correlation comes out at 0.57, moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 582.2 %².
Within DEI's tracked universe of 24 assets, NREF comes in at #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NREF ahead by 53.1 points (-21.1% 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.
DEI vs NREF: side by side
| DEI (Douglas Emmett, Inc.) | NREF (NexPoint Real Estate Finance, Inc.) | |
|---|---|---|
| 1-year return | -21.1% | +32.0% |
| 5-year return | -52.6% | +54.2% |
| Volatility (ann.) | 35.7% | 28.5% |
| Beta vs S&P 500 | 0.99 | 0.63 |
| Max drawdown (3Y) | -51.8% | -24.0% |
| Market cap | $2.4B | $0.4B |
| P/E (trailing) | – | 7.3 |
| Dividend yield | 6.35% | 11.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DEI | NREF |
|---|---|---|
| 2022 | -50.9% | -8.9% |
| 2023 | -1.9% | +17.4% |
| 2024 | +34.6% | +13.5% |
| 2025 | -37.5% | +2.3% |
| 2026 | +12.1% | +32.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DEI 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 DEI and NREF?
The DEI/NREF correlation stands at 0.57 on a 3-year window (1 year: 0.56, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is NREF a good diversifier for DEI?
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/dei-vs-nref.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dei-vs-nref/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DEI correlations · NREF correlations
