NHI vs NXPL: Correlation
Measured on weekly returns over the past three years, National Health Investors, Inc. (NHI) and NextPlat Corp (NXPL) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NHI and NXPL?
Over the past 3 years, NHI and NXPL moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.36) than the 3-year average (-0.24). Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -352.3 %².
Out of 13 assets tracked against NHI, NXPL lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months NXPL outperformed by 21.7 percentage points (-2.2% for NHI against +19.5% for NXPL). One caveat on sizing: NXPL is 3.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NHI vs NXPL: side by side
| NHI (National Health Investors, Inc.) | NXPL (NextPlat Corp) | |
|---|---|---|
| 1-year return | -2.2% | +19.5% |
| 5-year return | +63.1% | -85.7% |
| Volatility (ann.) | 20.8% | 71.9% |
| Beta vs S&P 500 | 0.22 | 1.10 |
| Max drawdown (3Y) | -24.1% | -84.4% |
| Market cap | $3.6B | – |
| P/E (trailing) | 21.2 | – |
| Dividend yield | 5.01% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NHI | NXPL |
|---|---|---|
| 2022 | -3.3% | -61.1% |
| 2023 | +14.6% | +31.0% |
| 2024 | +30.7% | -34.5% |
| 2025 | +15.7% | -50.9% |
| 2026 | -2.8% | +75.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NHI and NXPL good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between NHI and NXPL?
As of 2026-08-27, the correlation of weekly returns between NHI and NXPL is -0.24 over 3 years, -0.36 over 1 year and -0.07 over 5 years.
Is NXPL a good diversifier for NHI?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nhi-vs-nxpl/)
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Related comparisons
Hubs: NHI correlations · NXPL correlations
