CVCO vs MTH: Correlation
Measured on weekly returns over the past three years, Cavco Industries, Inc. (CVCO) and Meritage Homes Corporation (MTH) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVCO and MTH?
On 3 years of weekly data the CVCO/MTH correlation comes out at 0.67, strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. The 5-year figure is 0.67, and annualized covariance runs at 1043.6 %².
MTH is one of the assets that tracks CVCO most closely: it ranks #3 out of the 13 assets we track against CVCO. On 12-month performance CVCO holds a 14.6-point edge, +7.6% against -7.0%.
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.
CVCO vs MTH: side by side
| CVCO (Cavco Industries, Inc.) | MTH (Meritage Homes Corporation) | |
|---|---|---|
| 1-year return | +7.6% | -7.0% |
| 5-year return | +119.4% | +34.0% |
| Volatility (ann.) | 39.8% | 39.0% |
| Beta vs S&P 500 | 0.96 | 0.90 |
| Max drawdown (3Y) | -34.7% | -43.0% |
| Market cap | $4.4B | $4.6B |
| P/E (trailing) | 25.1 | 15.0 |
| Dividend yield | 0.00% | 2.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVCO | MTH |
|---|---|---|
| 2022 | -28.8% | -24.5% |
| 2023 | +53.2% | +90.5% |
| 2024 | +28.7% | -10.2% |
| 2025 | +32.4% | -12.3% |
| 2026 | -3.5% | +8.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVCO and MTH good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CVCO and MTH?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.72 over the last year and 0.67 over 5 years.
Is MTH a good diversifier for CVCO?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
A reading of 0.67 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cvco-vs-mth.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cvco-vs-mth/)
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Related comparisons
Hubs: CVCO correlations · MTH correlations
