NHI vs OHI: Correlation
Measured on weekly returns over the past three years, National Health Investors, Inc. (NHI) and Omega Healthcare Investors, Inc. (OHI) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NHI and OHI?
Across a 3-year window, the weekly returns of NHI and OHI correlate at 0.48, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.67 versus 0.48 over 3 years. Stretching to 5 years gives 0.57, with an annualized covariance of 177.4 %².
Among the 13 assets we track against NHI, OHI ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months OHI outperformed by 17.4 percentage points (-2.2% for NHI against +15.2% for OHI).
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 OHI: side by side
| NHI (National Health Investors, Inc.) | OHI (Omega Healthcare Investors, Inc.) | |
|---|---|---|
| 1-year return | -2.2% | +15.2% |
| 5-year return | +63.1% | +107.9% |
| Volatility (ann.) | 20.8% | 17.7% |
| Beta vs S&P 500 | 0.22 | 0.09 |
| Max drawdown (3Y) | -24.1% | -15.5% |
| Market cap | $3.6B | $14.8B |
| P/E (trailing) | 21.2 | 16.5 |
| Dividend yield | 5.01% | 5.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NHI | OHI |
|---|---|---|
| 2022 | -3.3% | +3.5% |
| 2023 | +14.6% | +19.9% |
| 2024 | +30.7% | +33.6% |
| 2025 | +15.7% | +25.5% |
| 2026 | -2.8% | +9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NHI and OHI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NHI and OHI?
As of 2026-08-27, the correlation of weekly returns between NHI and OHI is 0.48 over 3 years, 0.67 over 1 year and 0.57 over 5 years.
Is OHI a good diversifier for NHI?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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.
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Related comparisons
Hubs: NHI correlations · OHI correlations
