NLY vs RPT: Correlation
Annaly Capital Management Inc. (NLY) and Rithm Property Trust Inc. (RPT) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NLY and RPT?
Over the past 3 years, NLY and RPT moved with a correlation of 0.39, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.08 versus 0.39 over 3 years. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 362.0 %².
RPT is close to the least connected end of NLY's tracked universe, ranking #22 of 26. Correlation aside, the last 12 months split them widely, with NLY ahead by 32.5 points (+25.4% versus -7.1%). Risk is not evenly split, since RPT carries 1.8 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.
NLY vs RPT: side by side
| NLY (Annaly Capital Management Inc.) | RPT (Rithm Property Trust Inc.) | |
|---|---|---|
| 1-year return | +25.4% | -7.1% |
| 5-year return | +30.4% | -69.9% |
| Volatility (ann.) | 22.9% | 40.9% |
| Beta vs S&P 500 | 0.81 | 0.96 |
| Max drawdown (3Y) | -26.3% | -64.6% |
| Market cap | $17.4B | $0.1B |
| P/E (trailing) | 5.6 | – |
| Dividend yield | 12.47% | 10.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NLY | RPT |
|---|---|---|
| 2022 | -21.4% | -35.2% |
| 2023 | +4.9% | -9.5% |
| 2024 | +8.1% | -39.4% |
| 2025 | +40.0% | +1.5% |
| 2026 | +10.2% | -15.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NLY and RPT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NLY and RPT?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.08 over the last year and 0.48 over 5 years.
Is RPT a good diversifier for NLY?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 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: NLY correlations · RPT correlations
