NXST vs STWD: Correlation
Nexstar Media Group, Inc. (NXST) and STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc. (STWD) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXST and STWD?
Across a 3-year window, the weekly returns of NXST and STWD correlate at 0.47, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.47 over 3 years. Stretching to 5 years gives 0.50, with an annualized covariance of 303.9 %².
By 3-year correlation, STWD places #5 of the 13 assets tracked against NXST. Twelve-month performance is nearly a tie, at -9.5% for NXST and -11.8% for STWD. Risk is not evenly split, since NXST carries 1.7 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.
NXST vs STWD: side by side
| NXST (Nexstar Media Group, Inc.) | STWD (STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc.) | |
|---|---|---|
| 1-year return | -9.5% | -11.8% |
| 5-year return | +43.6% | +0.5% |
| Volatility (ann.) | 33.2% | 19.3% |
| Beta vs S&P 500 | 0.63 | 0.65 |
| Max drawdown (3Y) | -38.4% | -15.8% |
| Market cap | $5.5B | $6.1B |
| P/E (trailing) | 35.1 | 27.0 |
| Dividend yield | 4.01% | 12.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXST | STWD |
|---|---|---|
| 2022 | +18.4% | -17.3% |
| 2023 | -7.5% | +26.7% |
| 2024 | +5.0% | -0.6% |
| 2025 | +34.0% | +4.9% |
| 2026 | -9.0% | -6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXST and STWD good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NXST and STWD?
The NXST/STWD correlation stands at 0.47 on a 3-year window (1 year: 0.18, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is STWD a good diversifier for NXST?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 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/nxst-vs-stwd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nxst-vs-stwd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NXST correlations · STWD correlations
