HHH vs RAVE: Correlation
How closely do Howard Hughes Holdings Inc. (HHH) and Rave Restaurant Group, Inc. (RAVE) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HHH and RAVE?
Over the past 3 years, HHH and RAVE moved with a correlation of 0.33, which is moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.33 over 3. Over 5 years the correlation is 0.23, and the annualized covariance of weekly returns is 493.8 %².
Among the 17 assets we track against HHH, RAVE sits near the bottom by co-movement, at rank #14. On 12-month performance RAVE holds a 10.2-point edge, -14.2% against -4.0%. Note the risk asymmetry: RAVE runs 1.7 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.
HHH vs RAVE: side by side
| HHH (Howard Hughes Holdings Inc.) | RAVE (Rave Restaurant Group, Inc.) | |
|---|---|---|
| 1-year return | -14.2% | -4.0% |
| 5-year return | -25.2% | +146.8% |
| Volatility (ann.) | 29.3% | 50.5% |
| Beta vs S&P 500 | 0.96 | 0.63 |
| Max drawdown (3Y) | -31.4% | -37.2% |
| Market cap | $3.9B | – |
| P/E (trailing) | 12.8 | 14.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HHH | RAVE |
|---|---|---|
| 2022 | -24.9% | +56.4% |
| 2023 | +11.9% | +41.1% |
| 2024 | -5.7% | +15.7% |
| 2025 | +3.7% | +27.9% |
| 2026 | -18.6% | -5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HHH and RAVE good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HHH and RAVE?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.38 over the last year and 0.23 over 5 years.
Is RAVE a good diversifier for HHH?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
A reading of 0.33 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hhh-vs-rave.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hhh-vs-rave/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HHH correlations · RAVE correlations
