HD vs SKY: Correlation
How closely do Home Depot (The) (HD) and Champion Homes, Inc. (SKY) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HD and SKY?
On 3 years of weekly data the HD/SKY correlation comes out at 0.59, moderate. Recent behaviour matches the longer record: 0.64 over 1 year against 0.59 over 3. The 5-year figure is 0.62, and annualized covariance runs at 631.4 %².
Within HD's tracked universe of 54 assets, SKY comes in at #20 by 3-year correlation. The last year tells two different stories: SKY led by 37.9 percentage points, -17.4% for HD against +20.5% for SKY. Risk is not evenly split, since SKY carries 1.9 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.
HD vs SKY: side by side
| HD (Home Depot (The)) | SKY (Champion Homes, Inc.) | |
|---|---|---|
| 1-year return | -17.4% | +20.5% |
| 5-year return | +13.8% | +41.8% |
| Volatility (ann.) | 23.6% | 45.3% |
| Beta vs S&P 500 | 0.87 | 1.01 |
| Max drawdown (3Y) | -28.8% | -44.6% |
| Market cap | $327.9B | $4.9B |
| P/E (trailing) | 23.4 | 26.6 |
| Dividend yield | 1.38% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | HD | SKY |
|---|---|---|
| 2022 | -22.0% | -34.8% |
| 2023 | +12.8% | +44.2% |
| 2024 | +15.0% | +18.6% |
| 2025 | -9.3% | -4.1% |
| 2026 | -3.1% | +6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HD and SKY good diversifiers for each other?
Only partially. A correlation of 0.59 means HD and SKY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HD and SKY?
The HD/SKY correlation stands at 0.59 on a 3-year window (1 year: 0.64, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is SKY a good diversifier for HD?
Only partially. A correlation of 0.59 means HD and SKY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 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/hd-vs-sky.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hd-vs-sky/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HD correlations · SKY correlations
