DHI vs HOV: Correlation
Measured on weekly returns over the past three years, D. R. Horton (DHI) and Hovnanian Enterprises, Inc. (HOV) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHI and HOV?
Over the past 3 years, DHI and HOV moved with a correlation of 0.70, which is strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 1591.0 %².
Among the 31 assets we track against DHI, HOV ranks #15 by 3-year correlation. Twelve-month performance is nearly a tie, at -12.2% for DHI and -9.3% for HOV. Risk is not evenly split, since HOV carries 2.0 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.
DHI vs HOV: side by side
| DHI (D. R. Horton) | HOV (Hovnanian Enterprises, Inc.) | |
|---|---|---|
| 1-year return | -12.2% | -9.3% |
| 5-year return | +59.2% | +19.3% |
| Volatility (ann.) | 33.5% | 67.9% |
| Beta vs S&P 500 | 0.79 | 1.58 |
| Max drawdown (3Y) | -41.3% | -63.1% |
| Market cap | $40.6B | $0.7B |
| P/E (trailing) | 14.2 | 123.0 |
| Dividend yield | 1.17% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | DHI | HOV |
|---|---|---|
| 2022 | -16.8% | -66.9% |
| 2023 | +72.1% | +269.8% |
| 2024 | -7.2% | -14.0% |
| 2025 | +4.2% | -27.1% |
| 2026 | +1.8% | +29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHI and HOV good diversifiers for each other?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DHI and HOV?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.75 over the last year and 0.72 over 5 years.
Is HOV a good diversifier for DHI?
To a limited degree. At 0.70 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.70 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/dhi-vs-hov.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dhi-vs-hov/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DHI correlations · HOV correlations
