MX vs NHI: Correlation
Magnachip Semiconductor Corporation (MX) and National Health Investors, Inc. (NHI) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MX and NHI?
Over the past 3 years, MX and NHI moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.39) than the 3-year average (-0.22). Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -362.4 %².
NHI is close to the least connected end of MX's tracked universe, ranking #14 of 16. Neither side won the trailing year by much: +2.2% against -2.2%. Risk is not evenly split, since MX carries 3.8 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.
MX vs NHI: side by side
| MX (Magnachip Semiconductor Corporation) | NHI (National Health Investors, Inc.) | |
|---|---|---|
| 1-year return | +2.2% | -2.2% |
| 5-year return | -81.9% | +63.1% |
| Volatility (ann.) | 79.4% | 20.8% |
| Beta vs S&P 500 | 1.88 | 0.22 |
| Max drawdown (3Y) | -73.5% | -24.1% |
| Market cap | $0.1B | $3.6B |
| P/E (trailing) | – | 21.2 |
| Dividend yield | 0.00% | 5.01% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MX | NHI |
|---|---|---|
| 2022 | -55.2% | -3.3% |
| 2023 | -20.1% | +14.6% |
| 2024 | -46.4% | +30.7% |
| 2025 | -36.6% | +15.7% |
| 2026 | +27.1% | -2.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MX and NHI good diversifiers for each other?
Yes. With a correlation of -0.22, MX and NHI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MX and NHI?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.39 over the last year and -0.18 over 5 years.
Is NHI a good diversifier for MX?
Yes. With a correlation of -0.22, MX and NHI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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/mx-vs-nhi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mx-vs-nhi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MX correlations · NHI correlations
