FLYE vs HOV: Correlation
Fly-E Group, Inc. (FLYE) and Hovnanian Enterprises, Inc. (HOV) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLYE and HOV?
Across a 3-year window, the weekly returns of FLYE and HOV correlate at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -1916.1 %².
Among the 44 assets we track against FLYE, HOV ranks #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HOV ahead by 79.7 points (-89.0% versus -9.3%). Note the risk asymmetry: FLYE runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FLYE vs HOV: side by side
| FLYE (Fly-E Group, Inc.) | HOV (Hovnanian Enterprises, Inc.) | |
|---|---|---|
| 1-year return | -89.0% | -9.3% |
| 5-year return | n/a | +19.3% |
| Volatility (ann.) | 153.0% | 67.9% |
| Beta vs S&P 500 | 1.73 | 1.58 |
| Max drawdown (3Y) | -99.8% | -63.1% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | 123.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLYE | HOV |
|---|---|---|
| 2022 | – | -66.9% |
| 2023 | – | +269.8% |
| 2024 | – | -14.0% |
| 2025 | -92.1% | -27.1% |
| 2026 | -74.4% | +29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLYE and HOV good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between FLYE and HOV?
As of 2026-08-27, the correlation of weekly returns between FLYE and HOV is -0.20 over 3 years, -0.20 over 1 year and n/a over 5 years.
Is HOV a good diversifier for FLYE?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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/flye-vs-hov.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/flye-vs-hov/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FLYE correlations · HOV correlations
