INVH vs NXRT: Correlation
How closely do Invitation Homes (INVH) and NexPoint Residential Trust, Inc. (NXRT) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INVH and NXRT?
Across a 3-year window, the weekly returns of INVH and NXRT correlate at 0.66, strong. The past 12 months show a weaker link (0.52) than the 3-year average (0.66). Stretching to 5 years gives 0.61, with an annualized covariance of 406.8 %².
Among the 28 assets we track against INVH, NXRT ranks #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months INVH outperformed by 23.0 percentage points (-1.9% for INVH against -24.9% for NXRT).
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.
INVH vs NXRT: side by side
| INVH (Invitation Homes) | NXRT (NexPoint Residential Trust, Inc.) | |
|---|---|---|
| 1-year return | -1.9% | -24.9% |
| 5-year return | -16.8% | -54.1% |
| Volatility (ann.) | 21.2% | 29.2% |
| Beta vs S&P 500 | 0.50 | 0.83 |
| Max drawdown (3Y) | -30.9% | -45.0% |
| Market cap | $17.4B | $1.2B |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 3.98% | 8.67% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | INVH | NXRT |
|---|---|---|
| 2022 | -33.0% | -46.7% |
| 2023 | +19.7% | -17.3% |
| 2024 | -3.1% | +27.3% |
| 2025 | -9.7% | -23.3% |
| 2026 | +7.6% | -18.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVH and NXRT good diversifiers for each other?
To a limited degree. At 0.66 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 INVH and NXRT?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.52 over the last year and 0.61 over 5 years.
Is NXRT a good diversifier for INVH?
To a limited degree. At 0.66 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 0.66 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/invh-vs-nxrt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/invh-vs-nxrt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INVH correlations · NXRT correlations
