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An exact performance analysis of triple-branch threshold-based hybrid selection/maximal-ratio combining (T-HS/MRC) receivers over correlated Nakagami-m fading channels is presented. Our analysis is valid for integer-order fading parameters and an arbitrary covariance matrix. Following the moment-generating function-based approach, the error rate performance of T-HS/MRC receivers for various modulation formats is analytically obtained. Various performance evaluation results are also presented and compared to equivalent simulation ones.