FBIO vs HOV: Correlation
Fortress Biotech, Inc. (FBIO) and Hovnanian Enterprises, Inc. (HOV) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBIO and HOV?
On 3 years of weekly data the FBIO/HOV correlation comes out at 0.42, moderate. The link has loosened recently: the 1-year correlation (0.14) runs below the 3-year figure (0.42). The 5-year figure is 0.33, and annualized covariance runs at 2688.7 %².
HOV is one of the assets that tracks FBIO most closely: it ranks #1 out of the 12 assets we track against FBIO. The last year tells two different stories: FBIO led by 29.0 percentage points, +19.7% for FBIO against -9.3% for HOV.
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.
FBIO vs HOV: side by side
| FBIO (Fortress Biotech, Inc.) | HOV (Hovnanian Enterprises, Inc.) | |
|---|---|---|
| 1-year return | +19.7% | -9.3% |
| 5-year return | -94.3% | +19.3% |
| Volatility (ann.) | 94.3% | 67.9% |
| Beta vs S&P 500 | 1.35 | 1.58 |
| Max drawdown (3Y) | -78.2% | -63.1% |
| Market cap | $0.1B | $0.7B |
| P/E (trailing) | 1.0 | 123.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBIO | HOV |
|---|---|---|
| 2022 | -73.6% | -66.9% |
| 2023 | -69.6% | +269.8% |
| 2024 | -32.6% | -14.0% |
| 2025 | +80.3% | -27.1% |
| 2026 | -23.5% | +29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBIO and HOV good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FBIO and HOV?
As of 2026-08-27, the correlation of weekly returns between FBIO and HOV is 0.42 over 3 years, 0.14 over 1 year and 0.33 over 5 years.
Is HOV a good diversifier for FBIO?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fbio-vs-hov.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fbio-vs-hov/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FBIO correlations · HOV correlations
