GOOD vs NXDT: Correlation
How closely do Gl (GOOD) and NexPoint Diversified Real Estate Trust (NXDT) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOOD and NXDT?
On 3 years of weekly data the GOOD/NXDT correlation comes out at 0.43, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. The 5-year figure is 0.43, and annualized covariance runs at 466.5 %².
Within GOOD's tracked universe of 16 assets, NXDT comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NXDT outperformed by 51.5 percentage points (+8.2% for GOOD against +59.7% for NXDT). Risk is not evenly split, since NXDT carries 2.2 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.
GOOD vs NXDT: side by side
| GOOD (Gl) | NXDT (NexPoint Diversified Real Estate Trust) | |
|---|---|---|
| 1-year return | +8.2% | +59.7% |
| 5-year return | -11.7% | -44.2% |
| Volatility (ann.) | 22.3% | 48.6% |
| Beta vs S&P 500 | 0.67 | 0.90 |
| Max drawdown (3Y) | -35.3% | -65.1% |
| Market cap | $0.6B | $0.3B |
| P/E (trailing) | 51.9 | – |
| Dividend yield | 9.22% | 10.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GOOD | NXDT |
|---|---|---|
| 2022 | -22.5% | -14.0% |
| 2023 | -21.6% | -24.9% |
| 2024 | +33.3% | -15.0% |
| 2025 | -28.1% | -25.8% |
| 2026 | +29.9% | +51.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GOOD and NXDT good diversifiers for each other?
Reasonably. At 0.43, GOOD and NXDT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GOOD and NXDT?
As of 2026-08-27, the correlation of weekly returns between GOOD and NXDT is 0.43 over 3 years, 0.36 over 1 year and 0.43 over 5 years.
Is NXDT a good diversifier for GOOD?
Reasonably. At 0.43, GOOD and NXDT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/good-vs-nxdt.json
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Related comparisons
Hubs: GOOD correlations · NXDT correlations
