HHH vs MD: Correlation
How closely do Howard Hughes Holdings Inc. (HHH) and Pediatrix Medical Group, Inc. (MD) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HHH and MD?
On 3 years of weekly data the HHH/MD correlation comes out at 0.39, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.51 versus 0.39 over 3 years. The 5-year figure is 0.41, and annualized covariance runs at 528.9 %².
Within HHH's tracked universe of 17 assets, MD comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MD ahead by 70.2 points (-14.2% versus +56.0%). One caveat on sizing: MD is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
HHH vs MD: side by side
| HHH (Howard Hughes Holdings Inc.) | MD (Pediatrix Medical Group, Inc.) | |
|---|---|---|
| 1-year return | -14.2% | +56.0% |
| 5-year return | -25.2% | -23.8% |
| Volatility (ann.) | 29.3% | 46.2% |
| Beta vs S&P 500 | 0.96 | 0.33 |
| Max drawdown (3Y) | -31.4% | -52.8% |
| Market cap | $3.9B | $2.2B |
| P/E (trailing) | 12.8 | 12.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HHH | MD |
|---|---|---|
| 2022 | -24.9% | -45.4% |
| 2023 | +11.9% | -37.4% |
| 2024 | -5.7% | +41.1% |
| 2025 | +3.7% | +63.0% |
| 2026 | -18.6% | +25.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HHH and MD good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HHH and MD?
As of 2026-08-27, the correlation of weekly returns between HHH and MD is 0.39 over 3 years, 0.51 over 1 year and 0.41 over 5 years.
Is MD a good diversifier for HHH?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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/hhh-vs-md.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hhh-vs-md/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HHH correlations · MD correlations
