IRT vs NXRT: Correlation
Measured on weekly returns over the past three years, Independence Realty Trust, Inc. (IRT) and NexPoint Residential Trust, Inc. (NXRT) carry a correlation of 0.81, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRT and NXRT?
Across a 3-year window, the weekly returns of IRT and NXRT correlate at 0.81, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. Stretching to 5 years gives 0.82, with an annualized covariance of 581.4 %².
NXRT is one of the assets that tracks IRT most closely: it ranks #3 out of the 16 assets we track against IRT. Their recent paths diverged sharply: over the last 12 months IRT outperformed by 21.4 percentage points (-3.5% for IRT 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.
IRT vs NXRT: side by side
| IRT (Independence Realty Trust, Inc.) | NXRT (NexPoint Residential Trust, Inc.) | |
|---|---|---|
| 1-year return | -3.5% | -24.9% |
| 5-year return | -4.5% | -54.1% |
| Volatility (ann.) | 24.8% | 29.2% |
| Beta vs S&P 500 | 0.74 | 0.83 |
| Max drawdown (3Y) | -29.0% | -45.0% |
| Market cap | $4.0B | $1.2B |
| P/E (trailing) | 91.1 | – |
| Dividend yield | 4.15% | 8.67% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IRT | NXRT |
|---|---|---|
| 2022 | -32.3% | -46.7% |
| 2023 | -5.6% | -17.3% |
| 2024 | +34.3% | +27.3% |
| 2025 | -8.5% | -23.3% |
| 2026 | -4.1% | -18.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRT and NXRT good diversifiers for each other?
No: a correlation of 0.81 means IRT and NXRT tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between IRT and NXRT?
Using weekly returns as of 2026-08-27: 0.81 over 3 years, with 0.72 over the last year and 0.82 over 5 years.
Is NXRT a good diversifier for IRT?
No: a correlation of 0.81 means IRT and NXRT tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.81 mean?
A reading of 0.81 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/irt-vs-nxrt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/irt-vs-nxrt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IRT correlations · NXRT correlations
