FRPH vs HHH: Correlation
FRP Holdings, Inc. (FRPH) and Howard Hughes Holdings Inc. (HHH) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRPH and HHH?
Across a 3-year window, the weekly returns of FRPH and HHH correlate at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 318.0 %².
Few assets follow FRPH as closely as HHH, which ranks #1 of 11 tracked partners. Their 12-month results are close: -13.9% for FRPH against -14.2% for HHH.
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.
FRPH vs HHH: side by side
| FRPH (FRP Holdings, Inc.) | HHH (Howard Hughes Holdings Inc.) | |
|---|---|---|
| 1-year return | -13.9% | -14.2% |
| 5-year return | -22.9% | -25.2% |
| Volatility (ann.) | 20.1% | 29.3% |
| Beta vs S&P 500 | 0.38 | 0.96 |
| Max drawdown (3Y) | -36.2% | -31.4% |
| Market cap | $0.4B | $3.9B |
| P/E (trailing) | 2223.0 | 12.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRPH | HHH |
|---|---|---|
| 2022 | -6.8% | -24.9% |
| 2023 | +16.7% | +11.9% |
| 2024 | -2.6% | -5.7% |
| 2025 | -25.6% | +3.7% |
| 2026 | -2.5% | -18.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRPH and HHH good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FRPH and HHH?
The FRPH/HHH correlation stands at 0.54 on a 3-year window (1 year: 0.46, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is HHH a good diversifier for FRPH?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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/frph-vs-hhh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frph-vs-hhh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRPH correlations · HHH correlations
