NexPoint Real Correlations

NREF-PA Preferred Stock

USD 24.38 0.01 0.04%

The current 90-days correlation between NexPoint Real Estate and Brookfield Business Corp is 0.15 (i.e., Average diversification). The correlation of NexPoint Real is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

NexPoint Real Correlation With Market

Very poor diversification

The correlation between NexPoint Real Estate and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NexPoint Real Estate and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NexPoint Real could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NexPoint Real when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back NexPoint Real - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling NexPoint Real Estate to buy it.

Moving together with NexPoint Preferred Stock

0.74	NNBR	NN Inc	Pair Corr
0.69	AES	AES Aggressive Push	Pair Corr
0.88	BNEFF	Bonterra Energy Corp	Pair Corr
0.77	INTC	Intel	Pair Corr
0.85	CAMZF	Camino Minerals	Pair Corr
0.87	MS-PF	Morgan Stanley	Pair Corr
0.87	TOGOF	TomaGold	Pair Corr
0.75	NTZ	Natuzzi SpA	Pair Corr
0.69	FRFFF	Fairfax Financial	Pair Corr
0.75	LAND	Gladstone Land	Pair Corr
0.86	YLLXF	Yellow Cake plc Downward Rally	Pair Corr
0.78	GS	Goldman Sachs Group	Pair Corr
0.82	JOE	St Joe Company	Pair Corr
0.67	BBDO	Banco Bradesco SA	Pair Corr
0.67	TORO	Toro	Pair Corr
0.81	PYTCY	Playtech PLC ADR	Pair Corr
0.86	MTNOF	MTN Group Limited	Pair Corr
0.84	TATT	Tat Techno	Pair Corr
0.79	CELH	Celsius Holdings	Pair Corr
0.75	TLOFF	Talon Metals Corp	Pair Corr

Moving against NexPoint Preferred Stock

0.39

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Pair Corr

Related Correlations Analysis

	ARX	GSHD	SF	JXN	HCI	BOH	CVBF	OAK-PB	KMPR	BBUC
ARX		0.81	0.48	-0.03	0.65	-0.32	-0.35	-0.68	0.85	0.32	ARX
GSHD	0.81		0.27	-0.39	0.67	-0.64	-0.46	-0.76	0.82	0.01	GSHD
SF	0.48	0.27		0.67	0.09	0.47	0.34	-0.08	0.27	0.72	SF
JXN	-0.03	-0.39	0.67		-0.44	0.9	0.63	0.47	-0.16	0.65	JXN
HCI	0.65	0.67	0.09	-0.44		-0.54	-0.53	-0.75	0.53	-0.04	HCI
BOH	-0.32	-0.64	0.47	0.9	-0.54		0.78	0.68	-0.44	0.57	BOH
CVBF	-0.35	-0.46	0.34	0.63	-0.53	0.78		0.62	-0.33	0.57	CVBF
OAK-PB	-0.68	-0.76	-0.08	0.47	-0.75	0.68	0.62		-0.59	0.2	OAK-PB
KMPR	0.85	0.82	0.27	-0.16	0.53	-0.44	-0.33	-0.59		0.17	KMPR
BBUC	0.32	0.01	0.72	0.65	-0.04	0.57	0.57	0.2	0.17		BBUC
	ARX	GSHD	SF	JXN	HCI	BOH	CVBF	OAK-PB	KMPR	BBUC

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BOH	+ 0.9	JXN
KMPR	+ 0.85	ARX
KMPR	+ 0.82	GSHD
GSHD	+ 0.81	ARX
CVBF	+ 0.78	BOH
BBUC	+ 0.72	SF

High negative correlations

OAK-PB	- 0.76	GSHD
OAK-PB	- 0.75	HCI
OAK-PB	- 0.68	ARX
BOH	- 0.64	GSHD
KMPR	- 0.59	OAK-PB
BOH	- 0.54	HCI

Risk-Adjusted Indicators

There is a big difference between NexPoint Preferred Stock performing well and NexPoint Real Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze NexPoint Real's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ARX	2.37	(0.21)	0.00	(0.29)	0.00	0.00	5.79	(4.65)	17.04
GSHD	2.17	(0.53)	0.00	(0.55)	0.00	0.00	5.56	(6.88)	20.83
SF	1.29	(0.12)	0.00	(0.02)	0.00	0.00	2.43	(2.84)	7.93
JXN	1.23	0.24	0.15	0.24	1.35	(1.31)	2.83	(2.76)	7.12
HCI	1.51	(0.29)	0.00	(0.42)	0.00	0.00	2.88	(3.70)	9.93
BOH	1.20	0.22	0.16	0.28	1.14	(1.51)	2.56	(1.90)	8.71
CVBF	1.26	0.12	0.07	0.19	1.40	(1.37)	3.01	(1.98)	9.56
OAK-PB	0.54	0.06	0.00	1.83	0.67	(0.64)	1.34	(0.76)	4.82
KMPR	1.27	(0.22)	0.00	(0.26)	0.00	0.00	2.33	(3.48)	17.07
BBUC	1.70	0.02	0.01	0.07	2.27	(1.66)	3.49	(3.16)	10.90

Be your own money manager

Our tools can tell you how much better you can do entering a position in NexPoint Real without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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NexPoint Real Corporate Management

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CPA CFA	Pres Chairman	Profile
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