REFI vs NHICU

Comparison between Chicago Atlantic Real Estate Finance Inc (REFI, Company) and NewHold Investment Corp III - Units (1 Ord Cls A & 1/2 War) (NHICU, Company).

REFI vs NHICU - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	REFI(COMPANY)	NHICU(COMPANY)
Market Cap	$209M	$210M
Max Drawdown	51.71%	18.74%
Sharpe Ratio	-0.51	0.42
5Y Beta	0.41	0.01
Industry	Reit - Mortgage	N/A
P/E Ratio	6.79	535.85
Forward P/E	5.25	N/A
Dividend Yield	18.80%	N/A
Debt to Equity	16.28%	0.00%
Free Cash Flow Yield	11.62%	-0.99%
P/S Ratio	5.06	N/A
P/B Ratio	0.82	-37.17

Market Cap

REFI

$209M

Winner

NHICU

$210M

Max Drawdown

REFI

51.71%

Winner

NHICU

18.74%

Sharpe Ratio

REFI

-0.51

Winner

NHICU

0.42

5Y Beta

REFI

0.41

Winner

NHICU

0.01

Industry

REFI

Reit - Mortgage

NHICU

N/A

P/E Ratio

Winner

REFI

6.79

NHICU

535.85

Forward P/E

REFI

5.25

NHICU

N/A

Dividend Yield

REFI

18.80%

NHICU

N/A

Debt to Equity

REFI

16.28%

Winner

NHICU

0.00%

Free Cash Flow Yield

Winner

REFI

11.62%

NHICU

-0.99%

P/S Ratio

REFI

5.06

NHICU

N/A

P/B Ratio

REFI

0.82

Winner

NHICU

-37.17

REFI vs NHICU - Historical Returns

Returns include dividend reinvestment.

Period	REFI	NHICU
1 month	-4.90%	-7.36%
3 months	-14.02%	+6.34%
6 months	-9.34%	+7.72%
1 year	-10.74%	+11.99%
5 years(CAGR)	+3.01%	N/A
Max(CAGR)	+3.01%	+10.61%

Winner

REFI

-4.90%

NHICU

-7.36%

REFI

-14.02%

Winner

NHICU

+6.34%

REFI

-9.34%

Winner

NHICU

+7.72%

REFI

-10.74%

Winner

NHICU

+11.99%

5Y(CAGR)

REFI

+3.01%

NHICU

N/A

Max(CAGR)

REFI

+3.01%

Winner

NHICU

+10.61%

REFI vs NHICU - Annual Returns (2021 - 2026)

Returns include dividend reinvestment.

Year	REFI	NHICU
2026	-10.52%	+10.81%
2025	-9.46%	+4.29%
2024	+9.91%	N/A
2023	+24.48%	N/A
2022	+1.58%	N/A
2021	+0.97%	N/A

REFI vs NHICU Drawdown Comparison

The maximum drawdown for REFI was -26.51%, occurring on Mar 15, 2023. Recovery took 454 trading sessions.

The maximum drawdown for NHICU was -18.74%, occurring on Jul 14, 2026. This drawdown has not yet recovered.

The current REFI drawdown is -22.43%. The current NHICU drawdown is -18.74%.

Rank	REFI	NHICU
#1	-26.51% Feb 28, 2022 - Dec 18, 2023	-18.74% Jun 8, 2026 - Jul 14, 2026
#2	-24.97% Mar 3, 2025 - Jul 31, 2026	-7.25% Jun 1, 2026 - Jun 8, 2026
#3	-9.51% Jul 17, 2024 - Nov 21, 2024	-4.91% Aug 19, 2025 - Apr 28, 2026
#4	-7.26% Dec 27, 2023 - Jul 15, 2024	-2.76% Jun 16, 2025 - Aug 19, 2025
#5	-6.30% Jan 20, 2022 - Feb 28, 2022	-0.50% Mar 27, 2025 - Apr 22, 2025
#6	-3.12% Jan 21, 2025 - Feb 10, 2025	-0.40% Apr 22, 2025 - Apr 29, 2025
#7	-2.99% Feb 18, 2025 - Feb 25, 2025	-0.22% Apr 29, 2025 - May 6, 2025
#8	-2.97% Dec 8, 2021 - Dec 31, 2021	-0.20% Mar 14, 2025 - Mar 27, 2025
#9	-2.82% Jan 3, 2025 - Jan 17, 2025	-0.19% Jun 11, 2025 - Jun 13, 2025
#10	-2.78% Dec 5, 2024 - Jan 3, 2025	-0.10% May 6, 2025 - May 21, 2025
#11	-2.38% Dec 19, 2023 - Dec 26, 2023	-0.10% Mar 5, 2025 - Mar 10, 2025
#12	-1.23% Dec 2, 2024 - Dec 5, 2024	-0.09% Mar 12, 2025 - Mar 14, 2025
#13	-0.88% Feb 11, 2025 - Feb 14, 2025	-0.05% Jun 4, 2025 - Jun 6, 2025
#14	-0.39% Jan 11, 2022 - Jan 13, 2022	N/A
#15	-0.31% Nov 25, 2024 - Nov 29, 2024	N/A

Correlation

Correlation between REFI and NHICU is -0.68 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.68

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